Dublin, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The "Cancer Gene Therapy Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The cancer gene therapy market is expected to grow at a CAGR of 19.0% over the forecast period to reach US$5.186 billion by 2027 from US$1.533 billion in 2020. Cancer gene therapy refers to a medical technique for cancer treatment where a therapeutics DNA is introduced in the gene of a cancer patient which eliminates the cancer cell. Such therapy is gaining popularity owing to its high success rate in clinical and preclinical trials.
Furthermore, the growing prevalence of cancer is demanding innovative and effective treatment for such a deadly disease. For instance, according to the World Health Organization, in 2020, the number of deaths that occurred due to cancer globally stood at 10 million with which death count by breast cancer stood at 2.26 million followed by lung cancer at 2.21 million.
Furthermore, according to the Irish Cancer Society, in 2020, the number of new cancer cases in Ireland stood at 45,753. Owing to the rapidly growing prevalence of cancer, the demand for gene therapy products is also projected to increase, thereby boosting the cancer gene therapy market growth during the forecast period.
Based on therapy type, the cancer gene therapy market is segmented into immune cell gene therapy, oncolytic virotherapy, gene transfer, and others. Immunotherapy is expected to grow at a relatively higher rate during the forecast period of the cancer gene therapy market. Immunotherapy is widely used in cancer treatment as it strengthens the immune system for fighting aging cancer.
Various immunotherapies are used for cancer treatment, such as immune cell gene therapy in which white blood T-cells which are earlier taken from the patient's blood are enhanced in the laboratory and then transferred back into the patient's body, thereby enabling the immune system to kill the cancer cells.
Such therapy proves to be effective in the removal of established tumors in the body, thereby binding the cancer cells and reducing their growth. With such benefits coupled with a rise in immunotherapy research and experiments, the segment growth is expected to show significant growth in the future, thereby boosting the overall market growth.
The favorable government investments coupled with the approval of new therapies for cancer treatment is boosting the market growth. Realizing the importance of gene therapy in cancer treatment, the government of various countries are actively investing in research and development strategies and are also approving new gene therapies for the treatment of certain cancer types. For instance, according to the US Food and Drug Administration, in March 2021, the organization approved cell-based gene therapy namely "Abecma" for the treatment of adults having multiple myeloma which is a type of blood cancer that prevents bone marrow from making healthy blood cells.
Moreover, as per the September 2019 press release by the government of the UK, the government announced investments of US$164.3 million in the improvement of research, diagnostic, and healthcare treatments including gene therapies for devastating diseases such as cancer. Furthermore, the government of Canada, in August 2019, announced an investment of US$4.2 million in its Next Generation Manufacturing Cluster, where the government would boost its biotech companies for producing viral vectors for cell & gene therapy treatment. Such favorable investment and the introduction of new products will boost the market for cancer gene therapy during the forecast period.
Recent developments:
- In October 2022, Xcell Biosciences entered into a collaboration with aCGT Vector where the latter will be using its manufacturing technology with Xcell Biosciences for manufacturing and analyzing the cell & gene therapies for cancer patients.
- In September 2020, SV Health Investors and Cancer Research UK jointly established a biotech startup namely Cellinta Limited which will work on developing various gene therapies for the targeting of cancer cells in types of solid tumors.
- Black Stone Life Sciences and Ferring Pharmaceuticals announced a joint investment of US$570 million, in November 2019, for the development of a gene therapy namely "nadofaragene firadenovec" for patients having non-muscle invasive bladder cancer and unresponsive Bacillus Calmette-Guerin.
- Tata Memorial Centre collaborated with researchers at the Indian Institute of Technology, in June 2021, for the development of modern gene therapy for cancer treatment namely "Chimeric Antigen Receptor T-cell".
Market Segmentation:
By Therapy Type
- Immunotherapy
- Oncolytic Virotherapy
- Gene Transfer
- Others
By Vector Type
- Viral
- Non-Viral
- Cell-Based Carrier
By Cancer Type
- Breast
- Lung
- Pancreas
- Prostate
- Others
By End-User
- Hospitals & Clinics
- Diagnostic & Research Institutes
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- United Arab Emirates
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Taiwan
- Others
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. CANCER GENE THERAPY MARKET BY THERAPY TYPE
6. CANCER GENE THERAPY MARKET BY VECTOR TYPE
7. CANCER GENE MARKET BY CANCER TYPE
8. CANCER GENE THERAPY MARKET BY END-USER
9. CANCER GENE THERAPY MARKET BY GEOGRAPHY
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
11. COMPANY PROFILES
Companies Mentioned
- Shenzhen Sibiono GeneTech Co. Ltd
- Shanghai Sunway Biotech Co. Ltd
- Amgen Inc.
- Novartis
- Gilead Sciences, Inc.
- Bluebirdbio, Inc
- Celgene Inc
- GlaxoSmithKline plc
- Biocancell Therapeutic Inc
- ElevateBio
For more information about this report visit https://www.researchandmarkets.com/r/jshtz0
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