Cancer Gene Therapy Market is predicted to reach USD 16,494.66 million by 2030
The Global Cancer Gene Therapy Market held USD 558.24 million in 2018 and is predicted to reach USD 16,494.66 million by 2030 with a CAGR of 32.6% from 2019-2030
Read Report Overview @
Cancer gene therapy is a technique of healing distribution of genetic material into a patient's cells as a drug to treat disease and compensate for abnormal genes or to make a beneficial protein. The cancer cells can modify themselves in numerous genetic factors that make them further divide into very often and form a tumor.
During the treatment of cancer, the genes are replaced to fight against cancer-causing tumor cells. Gene therapy is an effective treatment for chronic diseases as they cause least side effects with maximum efficacy. The innovation in the gene therapy with better success rate and increasing prevalence of cancer worldwide is generating new opportunity for cancer gene therapy market.
The cancer gene therapy market size is growing owing to factors including increased prevalence of cancer, the growing popularity of DNA vaccines. Furthermore, increasing funding for R&D activities for cancer gene therapy majorly driven the cancer gene therapy market. Further, ethical acceptance of gene therapy for treatment of diseases, and favorable government regulations growing has further supplemented the market growth. However, the high cost of gene therapy treatment and unwanted immune responses is hampering the growth of the cancer gene therapy market. The rapid technological advancements and untapped markets in developing economies will open new opportunities for cancer gene therapy market share in the future.
The cancer gene therapy market is segmented on the basis of therapy, end-user, and geography. On the basis of therapy, the cancer gene therapy market is classified into gene induced immunotherapy, gene transfer, and oncolytic virotherapy. The gene induced immunotherapy is further sub-segmented into the delivery of cytokines gene and delivery of tumor antigen gene. The gene transfer is further sub-segmented into naked/plasmid vectors, sonoportion, magnetofection, electroporation, and gene gun. The oncolytic virotherapy segment is further sub-segmented into adenovirus, lentivirus, vaccinia virus, herpes simplex virus, alpha virus, retro virus, adeno associated virus, simian virus, and others. On the basis of application, the market is divided into hospitals, diagnostics centers, and research institutes. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and LAMEA.
North America denotes a higher adoption of the cancer gene therapy and is anticipated to hold the highest market share during the forecast period. This is attributable to the factors including enhanced developments in healthcare, a large number of aging population, technological advancement, and high consumer awareness.
It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to improvement in a healthcare facility, increasing government initiatives, and increasing the affordability for advanced treatment due to increasing disposable income.
Request to view Sample Report:
Comprehensive competitive analysis and profiles of the major market players such as Bluebird bio, Inc., Merck, Adaptimmune, GlaxoSmithKline, BioCancell, Shenzhen SiBiono GeneTech, SynerGene Therapeutics, Celgene, Shanghai Sunway Biotech, OncoGenex Pharmaceuticals, and among others are provided in the cancer gene therapy market report.
Comments
Post a Comment