World Cancer Gene Therapy Market Industry Forecasts to 2030
DUBLIN, Dec. 29, 2020 /PRNewswire/ -- The "Cancer Gene Therapy Market by Therapy - Global Opportunity Analysis and Industry Forecast, 2019 - 2030" report has been added to ResearchAndMarkets.com's offering.
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The Global Cancer Gene Therapy Market was valued at USD 558.24 million in 2019 and is estimated to reach USD 16.50 billion by 2030, expanding at a CAGR of 32.6% during the forecast period, from 2020 to 2030
Gene therapy is a method of replacing or inactivating the mutated genes responsible for causing diseases or the genes that affect the proper functioning of organs, by introducing a new gene into the body. The adoption of cancer gene therapy is rising due to its high success rate achieved during trials. Cancer gene therapy is used as a substitute of the conventional drugs and surgeries to treat cancer. It has several advantages including high efficacy, minimum side effects and speedy recovery.
Market Dynamics and Trends:
According to the World Health Organization, cancer claimed the lives of nearly 9.6 million in 2018, and is the second-leading cause of death world-wide. At global level, about 1 out of 6 deaths happen due to cancer. Also, improving regulatory standards regarding the quality of products utilized in gene therapy, growing investments for R&D activities, rising popularity of DNA vaccines, ethical acceptance of the gene therapy treatments in treating cancer, are anticipated to fuel the growth of global cancer gene therapy market during the forecast period.
However, the cost associated with gene therapy treatment, unwanted immune responses, and risk associated with the treatment are expected to hamper the market growth during the forecast period. On the other hand, a growing geriatric population world-wide, favorable reimbursement policies, advancements in product technologies, and untapped market opportunities offered by the emerging economies, are expected to create lucrative opportunities for the market players.
Market Segmentations and Scope of the Study:
The cancer gene therapy market has been segmented based on therapy, end-user, and geography. In terms of therapy, the market has been classified into gene induced immunotherapy, gene transfer, and oncolytic virotherapy. The gene induced immunotherapy segment is further sub-segmented into the delivery of cytokines gene and delivery of tumor antigen gene. The gene transfer segment is sub-segmented into naked/plasmid vectors, sonoportion, magnetofection, electroporation, and gene gun. The oncolytic virotherapy segment is segregated into adenovirus, lentivirus, vaccinia virus, herpes simplex virus, alpha virus, retro virus, adeno associated virus, simian virus, and others. Based on application, the cancer gene therapy market is divided into hospitals, diagnostics centers, and research institutes. On the basis of geography, the market is fragmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographical Analysis :
North America dominated the global cancer gene therapy market in 2019, and this trend is expected to continue during the forecast period due to growing geriatric populations, presence of well-established healthcare infrastructure and specialized medical practitioners, advanced technological developments, presence of major manufactures, and high adoption of cancer gene therapy treatment in this region. The market in Asia-Pacific is expected to grow during the forecast period. Increasing consumer awareness about cancer gene therapy owing to increasing government initiatives, improvements in healthcare infrastructures, and untapped market offered in emerging economies.
Competitive Landscape :
Key players in the market are Bluebird bio, Inc., Merck, Adaptimmune, GlaxoSmithKline, Anchiano Therapeutics, Shenzhen SiBiono GeneTech, SynerGene Therapeutics, Celgene, Shanghai Sunway Biotech, and OncoGenex Pharmaceuticals. In January 2020, Merck and AstraZeneca, announced that the U.S. Food and Drug Administration (FDA) has accepted and granted priority review for their regulatory submission of supplemental New Drug Application of LYNPARZA (Olaparib) for the treatment of metastatic castration-resistant prostate cancer and deleterious, suspected deleterious germline or somatic homologous recombination repair (HRR) gene mutations, that have progressed a prior treatment with the hormonal agent.
Key Topics Covered:
1. Introduction
2. Market Snapshot, 2019-2030 Million
3. Porter's Five Force Model Analysis
4. Market Dynamics
5. Global Cancer Gene Therapy Market, by Therapy
6. Global Cancer Gene Therapy Market, by Region
7. Company Profiles
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https://www.researchandmarkets.com/r/ksrtsf
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