At 9.6% CAGR, Global Cancer Gene Therapy Market Size Estimated to Cross USD 3.99 Billion Value By 2030: Polaris Market Research

New York, NY, Feb. 24, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Cancer Gene Therapy Market Share, Size, Trends, Industry Analysis Report, By Therapy (Oncolytic Virotherapy, Gene Transfer); By End-Use (Research Institutes, Biopharma Companies); By Region; Segment Forecast, 2022 – 2030” in its research database.

According to the research report, the global cancer gene therapy market size & share was valued at USD 1.76 Billion in 2021 and is expected to reach USD 3.99 Billion by 2030, growing at a CAGR of 9.6% during the forecast period.

What is Cancer Gene Therapy? How Big is Cancer Gene Therapy Market Size & Share?

As a new method of treating human diseases, gene therapy has rapidly gained traction. Cancer gene therapy is a new treatment that replaces a defective gene with a healthy gene inside the body’s cells to prevent or slow the growth of cancer, which is the second largest cause of death, according to the World Health Organization (WHO). With a wide variety of genes and vectors being utilized in clinical trials with positive results, this therapy method is incredibly adaptable.

Gene cancer techniques have been created to strengthen already available treatments like chemotherapy and immunotherapy. The increasing demand for gene therapy and the rising prevalence of cancer is anticipated to stimulate the cancer gene therapy market demand. Gene therapy is expected to develop into an effective alternative treatment for all cancers and neoplastic illnesses with the advent of technological advances in the field.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Requests.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of tables & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Key Takeaways from This Report

• The report presents an in-depth overview of the current structure and forecasts to help identify emerging business opportunities on which to capitalize.
• The report elaborates on the SWOT analysis and Porter’s Five Forces model.
• The market-study value chain review gives a good view of the positions of the stakeholders.
• The report highlights key business strategies by major market players and their key methods.
• The report evaluates region-specific growth and development in the market.

Some of the Top Market Players Are:

• Altor Bioscience Corporation
• SiBiono.
• Shanghai Sunway Biotech Company Limited
• BioCancell
• GlobeImmune Inc.
• Aduro Biotech
• OncoGeneX
• New Link Genetics.
• ZioPharm Oncology
• Genelux Corporation
• Novartis AG
• GlaxoSmithKline PLC (GSK)
• Amgen Inc.
• Bristol Myers
• Squibb Company
• Karyopharm Therapeutics Inc.
• Gilead Sciences Inc.
• Adaptimmune Limited
• Sarepta Therapeutics Inc
• Biogen
• Orchard Therapeutics Plc
• Spark Therapeutics Inc.
• AGC Biologics
• Anges

For Additional Information on Key Players, Download a PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/cancer-gene-therapy-market/request-for-sample

Market Dynamics

Key Growth Driving Factors

• Increasing investments in the R&D of gene therapies to drive the market growth

The rising focus on developing effective therapies and rising investments in cancer research are propelling the cancer gene therapy market size. Growing investment in research and development of gene therapies is driving the growth of the market. Rising number of cases of various types of cancers, such as breast, pancreatic, liver, brain, lung, colorectal, prostate, bladder, head and neck, skin, and ovarian, is encouraging specialists to develop effective therapies which are supporting the market growth. Further, factors like increased tobacco use, alcohol consumption, low physical activity, and low intake of fruits and vegetables, which have led to increased cancer development, are likely to fuel the industry expansion.

Recent Trends Influencing the Market

The introduction of new products in the market positively influences the industry expansion

• Leading players are introducing new products with higher success rates and penetrating the significant untapped market. This is one of the key factors creating growth opportunities in the cancer gene therapy market. The industry is growing as a result of the availability of numerous cutting-edge medicines for ethically acceptable cancer treatment.
• Furthermore, an increased number of significant research and development strategies carried out by biopharmaceutical firms to create new medicinal medications are contributing to the growth of the market. For instance, in August 2022, the FDA approved Bluebird Bio’s BLUE.O gene therapy for use in the treatment of patients with a rare condition that necessitates routine blood transfusions.

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Segmental Analysis

• Gene-induced immunotherapy segment accounts for the largest market share in 2021

Based on therapy, the gene-induced immunotherapy category holds the major revenue share in the cancer gene therapy market due to a surge in investment in R&D and rising developments in gene technology. In gene-induced immunotherapy, DNA fragments called genes are generated in the body to immunize the body with beneficial genes. The genes are generated in order to kill the cancer cells and inhibit their growth in the body.

• Hospitals are likely to capture the major cancer gene therapy market share

On the basis of end-use, the hospital category is predicted to dominate the market due to the growing prevalence of cancer.  With the increased demand for cancer gene therapy in hospitals, the market is estimated to see massive growth in the coming years. Another factor contributing to the expansion is the development of the healthcare infrastructure since hospitals now offer all treatments under one roof.

Cancer Gene Therapy Market: Report Scope

Geography Overview   

• Asia Pacific is likely to grow at the fastest rate during the anticipated period

By geography, the cancer gene therapy market in North America witnessed the largest market share in 2021 and is expected to register a significant CAGR throughout the forecast period. This growth can be attributed to the increasing technological developments and growing investment in R&D. Also the presence of prominent industry players in the region is supporting the regional market growth.

Moreover, Asia Pacific is projected to capture higher CARG in the coming years owing to the rising geriatric population. Further, the expansion of the industry is aided by a surge in government spending and initiatives in the healthcare sector as well as technological improvements.

Browse the Detail Report “Cancer Gene Therapy Market Share, Size, Trends, Industry Analysis Report, By Therapy (Oncolytic Virotherapy, Gene Transfer); By End-Use (Research Institutes, Biopharma Companies); By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/cancer-gene-therapy-market           

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Recent Developments

• In September 2022, At ESMO, GlaxoSmithKline (GSK) gave a presentation on the use of Zejula and Jemperli in treating specific cancers. GSK and iTeos also plan to begin research using the recently licensed cancer medicine dostarlimab.

The Report Answers Questions Such as

• What is the market size and forecast of the industry?
• What are the inhibiting factors and impact of key factors shaping the market during the forecast period?
• Who are the key players operating in this market?
• Which application/end-user or product type may seek incremental growth prospects?
• What are the most significant challenges the market could face in the future?
• What growth strategies are the players considering to stay in the market?

Polaris Market Research has segmented the cancer gene therapy market report based on therapy, end-use, and region:

By Therapy Outlook

• Oncolytic Virotherapy
• Gene-induced Immunotherapy
• Gene transfer

By End-Use Outlook

• Hospitals
• Research Institutes
• Biopharma Companies
• Diagnostic centers
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

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