What is the global market size of Cancer Gene Therapy Market?

Cancer Gene Therapy Market size was valued at USD 1.97 billion in 2021 and is poised to grow from USD 2.37 billion in 2022 to USD 10.48 billion by 2030, growing at a CAGR of 20.42% in the forecast period (2023-2030).

Who are the key vendors in the Global Cancer Gene Therapy Market?

The global cancer gene therapy market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Cancer Gene Therapy. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Novartis AG - Switzerland', 'Gilead Sciences, Inc. - United States', 'Bristol-Myers Squibb - United States', 'Pfizer Inc. - United States', 'Merck & Co., Inc. - United States', 'Celgene Corporation - United States', 'Amgen Inc. - United States', 'Johnson & Johnson - United States', 'AstraZeneca - United Kingdom', 'GlaxoSmithKline plc - United Kingdom', 'bluebird bio, Inc. - United States', 'CRISPR Therapeutics AG - Switzerland', 'Editas Medicine, Inc. - United States', 'Intellia Therapeutics, Inc. - United States', 'uniQure N.V. - Netherlands', 'Sarepta Therapeutics, Inc. - United States', 'GenSight Biologics - France', 'Oncorus, Inc. - United States', 'MeiraGTx Holdings plc - United Kingdom', 'Tocagen Inc. - United States'

What is the key driver of Global Cancer Gene Therapy Market?

One driver of the global cancer gene therapy market is the increasing prevalence of cancer worldwide. The rising incidence of various types of cancer has created a significant need for effective treatment options, leading to the development and adoption of gene therapy approaches. Cancer gene therapy offers the potential to target specific genetic alterations or mutations responsible for cancer growth, providing personalized and targeted treatment options. This driver is further supported by advancements in gene editing technologies and increased understanding of cancer genetics.

What is the key market trend for Global Cancer Gene Therapy Market?

One key market trend in the global cancer gene therapy market is the growing focus on personalized and targeted therapies. Cancer gene therapy involves modifying the genes of cancer cells to inhibit their growth or trigger the immune system to attack them. With advancements in genetic sequencing and molecular diagnostics, researchers can identify specific genetic alterations in individual patients' tumors. This knowledge allows for the development of personalized gene therapies tailored to target those specific genetic mutations or pathways. By customizing treatments based on the unique genetic profile of each patient's cancer, personalized gene therapy holds great potential to improve treatment outcomes and minimize side effects, leading to a more effective and precise approach in combating cancer.

Which region accounted for the largest share in Global Cancer Gene Therapy Market?

One dominant region in the global cancer gene therapy market is North America. The region has a strong presence of key market players, advanced healthcare infrastructure, and supportive regulatory frameworks that promote the development and commercialization of gene therapies. North America accounts for a significant share of the global market due to the high prevalence of cancer, a large patient population, and substantial investments in research and development.

Cancer Gene Therapy Market Size, Share, Growth Analysis, By Therapy(Gene Induced Immunotherapy, Oncolytic Virotherapy, and Gene Transfer), By Indication(Breast Cancer, Ovarian Cancer, Liver Cancer, Pancreatic Cancer), By End User(Hospitals, Diagnostic centers, Research Institutes, and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35G2180 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 95 | Figures: 76

Cancer Gene Therapy Market Dynamics

Cancer Gene Therapy Market Drivers

Advancements in Gene Technologies

Genetic engineering and genome mapping technologies have a come a long way owing to high investments in gene research initiatives. These advancements from the gene world are now being integrated with oncology research to create novel cancer gene therapies thereby driving market growth as well.

High Investments in Oncology Research

With cancer becoming a global pandemic, the need for novel cancer treatments is higher than ever before. This is why governments and healthcare companies are continually investing heavily in oncology research to develop new treatments and cures.

Restraints

High Costs of Treatment

Getting cancer gene therapy is not possible for every cancer patient as they are quite expensive owing to their use of advanced equipment and extensive development costs. These high costs of treatment slow down cancer gene therapy adoption.

Adverse Reaction Risks

While gene therapies are gaining popularity, the risk of adverse reactions and rejections are also being popularized. These risks are inevitable now, and this is slowing down cancer gene therapy demand to a certain extent.

Cancer Gene Therapy Market Report Snapshots

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Global Cancer Gene Therapy Market size was valued at USD 2.38 Billion in 2022 and is poised to grow from USD 2.86 Billion in 2023 to USD 12.63 Billion by 2031, growing at a CAGR of 20.42% in the forecast period (2024-2031).

Cancer gene therapy providers should be targeting regions and countries with high incidence of cancer to maximize their business scope. Collaborating and partnering with healthcare providers could also help market players increase their revenue generation potential. Investing in research and development is highly essential for cancer gene therapy types of cancer gene therapy companies in the long run. 'Novartis AG (Switzerland) ', 'Gilead Sciences, Inc. (United States) ', 'Bristol-Myers Squibb (United States) ', 'Pfizer Inc. (United States) ', 'Merck & Co., Inc. (United States) ', 'Celgene Corporation (United States) ', 'Amgen Inc. (United States) ', 'Johnson & Johnson (United States) ', 'AstraZeneca (United Kingdom) ', 'GlaxoSmithKline plc (United Kingdom) ', 'bluebird bio, Inc. (United States) ', 'CRISPR Therapeutics AG (Switzerland) ', 'Editas Medicine, Inc. (United States) ', 'Intellia Therapeutics, Inc. (United States) ', 'uniQure N.V. (Netherlands) ', 'Sarepta Therapeutics, Inc. (United States) ', 'GenSight Biologics (France) ', 'Oncorus, Inc. (United States) ', 'MeiraGTx Holdings plc (United Kingdom) ', 'Tocagen Inc. (United States)'

Genetic engineering and genome mapping technologies have a come a long way owing to high investments in gene research initiatives. These advancements from the gene world are now being integrated with oncology research to create novel cancer gene therapies thereby driving market growth as well.

Demand for Combination Therapies: Growing number of cancer patients are opting for combination therapies to improve their chances of survival and get better treatment. Cancer gene therapy providers can focus on the development of new combination therapies to maximize their business scope in the long run.

Lucrative environment offered by public and private institutions in the North American region to advance oncology research is what allows this region to hold a high market share. The United States is projected to remain the top market in this region owing to quick adoption of novel healthcare treatments and presence of a developed healthcare infrastructure. Canada is also an opportune market for cancer gene therapy companies in this region.

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Cancer Gene Therapy Market Dynamics

Cancer Gene Therapy Market Report Snapshots

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What is the global market size of Cancer Gene Therapy Market?

Who are the key vendors in the Cancer Gene Therapy Market?

What is the key driver of Cancer Gene Therapy Market?

What is the key market trend for Cancer Gene Therapy Market?

Which region accounted for the largest share in Cancer Gene Therapy Market?

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