The global cancer gene therapy market size is expected to reach USD 3.99 billion by 2030, according to a new study by Polaris Market Research. The 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” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for cancer gene therapy in diagnosing diseases is expected to drive industry growth. Furthermore, increasing investment in R&D, technological advancement, well-established infrastructure, and awareness among the people are the major factors driving the demand.
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In addition, the growing geriatric population across the countries such as India, Japan, the U.S., and China is likely to positively impact the demand for the treatment over the coming years. Furthermore, with the rising technological advancement in the medical sector with government initiatives, the industry is expected to expand.
The industry was negatively impacted during the COVID-19 pandemic. Hospitals were made available for COVID-19 treatment, thus resulting in the declination of industry, but post-pandemic, it is expected to grow.
Cancer Gene Therapy Market Report Highlights
- The demand for the treatment in many regions is increasing, with a higher success rate in clinical and preclinical trails.
- Cancer treatment is advancing over the period with a higher success rate and is gaining demand with increasing healthcare awareness among the people.
- Cancer gene-induced immunotherapy dominated the segment with a higher revenue share in 2021 and is anticipated to grow during forecast period with increased funding in R&D and advancements in technology.
- In the end-use of product, hospitals dominate the market with a higher share owing to the developed infrastructure and the demand for treatment available under one roof.
- North America dominates the market with the highest revenue share. It is expected to expand during the forecast period with the availability of well-established infrastructure, funding in R&D, and technological advancement.
- Major players operating in the industry include BioCancell, GlobeImmune, Inc., Aduro Biotech, ZioPharm Oncology, 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.
Polaris Market Research has segmented the cancer gene therapy market report based on therapy, end-use, and region:
Cancer Gene Therapy, Therapy Outlook (Revenue – USD Billion, 2018 – 2030)
- Oncolytic Virotherapy
- Gene-induced Immunotherapy
- Gene transfer
Cancer Gene Therapy, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Research Institutes
- Biopharma Companies
- Diagnostic centers
Cancer Gene Therapy, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa