The rise in the prevalence of cancer, the benefits of cancer gene therapy over conventional cancer therapies, and the advancement in this field are the major factors that drive the market growth. In addition, the surge in government support, ethical acceptance of gene therapy for cancer treatment, and rise in biotechnological funding encourage the R&D activities for cancer gene therapy and thus fuel the growth of the cancer gene therapy market. In addition rise in awareness regarding cancer gene therapy are the major factors that drive the global cancer gene therapy market growth. In addition, an increase in government support for research in gene therapy, ethical acceptance of gene therapy for cancer treatment, and a rise in the prevalence of cancer boost the growth of the cancer gene therapy market. However, the high cost associated with the treatment and unwanted immune responses is expected to restrain the market growth.
The cancer gene therapy market is segmented on the basis of therapy, end-user, and region. By therapy, it is categorized into gene-induced immunotherapy, oncolytic virotherapy, and gene transfer. By end-user, it is categorized into hospitals, diagnostic centers, and research institutes. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global cancer gene therapy market include Adaptimmune, GlaxoSmithKline, Bluebird bio, Inc., Merck, Celgene, Shanghai Sunway Biotech, BioCancell, Shenzhen SiBionoGeneTech, SynerGene Therapeutics, and OncoGenex Pharmaceuticals.
Other prominent players in the value chain include Genelux Corporation, Cell Genesys, Advantagene, GenVec, BioCancell, Celgene, Epeius Biotechnologies, Introgen Therapeutics, Ziopharm Oncology, Shenzhen SiBionoGeneTech, and Altor Bioscience.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cancer gene therapy market analysis from 2020 to 2030 to identify the prevailing cancer gene therapy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cancer gene therapy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cancer gene therapy market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Therapy
- Gene Induced Immunotherapy
- Oncolytic Virotherapy
- Gene Transfer
By End User
- Hospitals
- Diagnostic centers
- Research Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Bristol Myers Squibb Co.
- Novartis
- Amgen Inc.
- Glaxosmithkline PLC
- Kayropharma Therapeutics
- Gilead Sciences
- Adapta Immue
- Genulex Corporation
- SynerGene Therapeutics
- shanghai sunway biotech
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Table of Contents
Executive Summary
The Cancer Gene Therapy Market size was valued at $1.4 billion in 2020, and is estimated to reach $11.4 billion by 2030, growing at a CAGR of 23.3% from 2021 to 2030.Cancer gene therapy is a technique used for the treatment of cancer where therapeutic DNA is being introduced into the gene of the patient with cancer. Owing to the high success rate during the preclinical and clinical trials, cancer gene therapy has gained popularity. There are many techniques used for cancer gene therapy, for example, a procedure where the mutated gene is being replaced with a healthy gene or the inactivation of the gene whose function is abnormal. Cancer gene therapy is an approach to cancer treatment, where genetically engineered vectors such as viruses are used to transfer or replace a mutated gene (that is causing cancer) with a healthy gene. This technique can be used for both the prevention and treatment of disease. The most commonly used techniques for the treatment using cancer gene therapy includes oncolytic virotherapy, gene transfer, and gene-induced immunotherapy.
The cancer gene therapy market is segmented on the basis of therapy, end-user, and region. By therapy, it is categorized into gene-induced immunotherapy, oncolytic virotherapy, and gene transfer. By end-user, it is categorized into hospitals, diagnostic centers, and research institutes. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The Cancer Gene Therapy Market trends are the rise in prevalence of cancer, ethical acceptance of gene therapy for cancer treatment, and the advancement in this field driving the market growth. In addition, the benefits of cancer gene therapy over conventional cancer therapies, surge in government support and rise in biotechnological funding that encourages the R&D activities for cancer gene therapy fuel the growth of the Gene Therapy Industry. On the other hand, the favorable government regulations for therapy are further going to boost various opportunities that will lead to the growth of the cancer gene therapy market in the above-mentioned forecast period. However, high costs associated with the treatment and unwanted immune responses are expected to restrain the Cancer Gene Therapy Market size. Moreover, an increase in new pipeline developments for gene therapy was witnessed in 2020 as compared to previous years. Thus, the number of clinical trials, product launches, collaborations, and product developments is on the rise, which is expected to provide a lucrative opportunity for the growth of the cancer gene therapy market during the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic had a negative impact on the cancer gene therapy market. As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the six most common cancer types - breast, colorectal, lung, pancreatic, gastric, and oesophageal cancers. Moreover, the Centres for Disease Control and Prevention (CDC) & many medical professional organizations recommended that cancer screening and other health prevention services, along with elective surgeries, be postponed unless the risks outweighed the benefits and to secure the hospital infrastructure for the treatment of COVID-19 patients. Thus, the COVID-19 pandemic has impacted the cancer gene therapy market. However, the situation is expected to gradually improve.
By therapy segment, the gene induced immunotherapy segment is the largest contributor to the market growth and the gene transfer therapy segment is anticipated to be a lucrative market due to the positive results of these therapies during the preclinical and clinical trials for the treatment of cancer.
By end-user, the hospital segment is the largest contributor to the market growth. Owing to the increase in the prevalence of cancer worldwide and the surge in regulatory approval of gene therapy for cancer are key factors that foster the Cancer Gene Therapy Market growth.
By region, North America accounted for the maximum Cancer Gene Therapy Market share in 2020, owing to the high prevalence rate of cancer, presence of high disposable income, and high funding for R&D activities associated with cancer gene therapy. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to a rise in the incidence rate of cancer, an increase in a government initiative to improve healthcare infrastructure, and owing to rise in the number of people prone to various chronic diseases. In addition, approval and launch of cancer gene therapy products can positively influence market expansion in developed countries, such as Japan, Australia, and New Zealand are the major factors for the growth of the cancer gene therapy market.
Key findings of the Study
- By therapy, gene-induced immunotherapy was the highest contributor to the Cancer Gene Therapy Market size in 2020.
- By end-user, the hospital segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Bristol Myers Squibb Co.
- Novartis
- Amgen Inc.
- Glaxosmithkline PLC
- Kayropharma Therapeutics
- Gilead Sciences
- Adapta Immue
- Genulex Corporation
- SynerGene Therapeutics
- shanghai sunway biotech
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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