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.
Polaris Market Research recently published a research report on “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?
Cancer gene therapy is the essential cancer cell and gene therapy in which researchers transfer new genes into a cancerous or normal cell to eliminate or reduce the growth of cancer. The recent report states that 12 to 14 new gene therapies will get approval in upcoming years, with nearly 40 new medicines sanctioned by the end of 2022. Nonviral vectors, viral vectors, and cell-based vehicles are the three main ways of transferring genes into tumor cells.
In many cases, gene therapy techniques are combined with traditional therapies such as chemotherapy and immunotherapy. In other cases, gene therapy provides tools to utilize insight into the tumor suppressor genes. The demand for cancer gene therapy market is expected to surge over the forecast period due to the rising prevalence of cancer.
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Some of the Top Market Players Are:
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Growth Driving Factors
Some key factors driving the market growth include increasing demand for gene therapy coupled with the rising number of cancer cases worldwide. The increasing developments in gene therapy are expected to become an effective alternative treatment option for various types of cancers and neoplastic disorders. This factor is likely to fuel the market development. With the growing spending on R&D activities and a surge in demand for DNA-based therapeutics, the cancer gene therapy market sales will increase during the foreseen period. In addition, high investment by government firms in better healthcare infrastructure is majorly contributing to the industry’s growth.
Moreover, the growing prevalence rates of lifestyle disorders such as diabetes and obesity, the fast-growing diagnostic industry, and increasing healthcare spending are propelling the cancer gene therapy market size. In addition, the increasing number of the older population, the rise in demand for laboratory automation, as well as more awareness of preventative healthcare are positively influencing the cancer gene therapy industry’s expansion.
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Report Scope: Cancer Gene Therapy Market
| Report Attribute | Details |
| Market Outlook for 2030 | USD 3.99 Billion |
| Market Size 2021 Value | USD 1.76 Billion |
| Expected CAGR Growth | 9.6% from 2022 – 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 – 2030 |
| Top Market Players | 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 |
| Segments Covered | By Therapy, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet your research needs. Explore customized purchase options |
Also Read, Press Release: Cancer Gene Therapy Market Size Worth $3.99 Billion By 2030 | CAGR: 9.6%
Key Highlights of the Report
Recent Developments
Segmental Analysis
Based on therapy type, the market is segmented into oncolytic virotherapy, gene-induced immunotherapy, and gene transfer. Gene-induced immunotherapy accounted for the largest cancer gene therapy market share due to the increasing investments in R&D and rising developments in gene technology. In this technique, genes are generated in the body to improve the immune system with healthy genes.
By end-use, the cancer gene therapy market segmentation includes hospitals, research institutes, biopharma companies, diagnostic centers, and others. Of all, the hospital segment majorly contributed to the market and is expected to grow over the predicted period. The key factor supporting segment growth is the rising prevalence of cancer. In addition, due to the growing geriatric population worldwide, incidences of cancer are increasing, which is boosting industry growth.
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Geographic Overview
By geographic assessment, North America holds the highest revenue share in 2021 and is expected to continue its dominance at a significant CAGR over the foreseen period. The prominent factors pushing the cancer gene therapy market forecast growth include technological developments coupled with growing investment in R&D. In addition, the market is growing due to the well-established healthcare infrastructure in North America.
Further, Asia Pacific is expected to experience a higher CAGR over the predicted time period owing to the growing geriatric population as well as rising government investment and initiatives in healthcare and technological advancements.
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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Polaris Market Research has segmented the cancer gene therapy market report based on therapy, end-use, and region:
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Dec 05, 2022
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