Westford, USA, June 18, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the cancer gene therapy market will attain a value of USD 12.63 billion by 2031, with a CAGR of 20.42% during the forecast period (2024-2031). Evolution in genetic research and therapeutic approaches have fostered a powerful growth in the cancer gene therapy market. Gene therapies enable targeted interventions at the genetic level, presenting a huge potential in cancer treatments. Hence, this market encounters severe push from the upward trajectory of global cancer incidence and growing demand for personalized medicine, to use gene therapy as a promising treatment path for cancer patients. On top of that, intensive research and development activities, positive governmental policies, and research institutions in collaboration with pharmaceutical firms have worked out to further expand the market.
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Browse in-depth TOC on "Cancer Gene Therapy Market"
- Pages - 157
- Tables - 36
- Figures – 74
Cancer Gene Therapy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 2.86 Billion |
| Estimated Value by 2031 | $ 12.63 Billion |
| Growth Rate | Poised to grow at a CAGR of 20.42% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Therapy, Indication, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Gowing Focus on Personalized and Targeted Therapies |
| Key Market Drivers | Increasing Prevalence of Cancer Worldwide |
Gene-Induced Immunotherapy Dominates the Market Due to Continuous R&D initiatives
The gene-induced immunotherapy segment has more than 40% of the market share and is expected to lead the market in the future. Driven by the continuous ongoing research and development activities to stimulate the body's immune response toward several types of cancer, this segment has the highest demand in the therapy segment. Gene-induced immunotherapy strategies are specifically developed in such a way that they trigger the immune system to identify and attack cancerous cells more effectively. Therefore, this segment hold great outcomes for treating several cancer types, hence marking their dominance in the market is expected.
Promising Outcomes of Oncolytic Virotherapy Segment Make it the Faster Growing Segment
Greater outcomes and efficiency provided by oncolytic virotherapy helps in achieving a faster growing segment among the therapy segment throughout the forecast period. Oncolytic viruses can target and kill cancer cells but selectively spare surrounding normal or healthy tissues, by activating natural killer cells. Along with that, huge fundings from various organizations in oncolytic virotherapy research display growing support and interest in these treatments. This further ensures its position and faster growth rate in the market.
Presence of Strong Healthcare Infrastructure makes North America a Dominating Force in the Cancer gene therapy Market
North America stands out as the leading region in the global cancer gene therapy market, due to its very strong presence of major key market players, advanced healthcare infrastructure, along with a very supportive regulatory scenario for the development and commercialization of these advanced therapies. The high share of the global market of this region can be attributed to factors like the high prevalence of cancer, number of cancer patients, and large investments in R&D initiatives by various pharmaceutical companies, research & academic institutions and governmental organizations.
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Drivers
- Increasing investments in research and development
- Rising focus on developing therapies for cancer
- Limitations of Traditional Cancer Treatments
Restraints
- Complex Nature of Gene Therapy and Its Associated Challenges
- Short shelf life and complexities of supply chain
- Insufficient Clinical Data Can Hinder the Effectiveness and Safety of these Therapies
Prominent Players in Cancer Gene Therapy Market
The following are the Top Cancer Gene Therapy Companies
- Novartis AG
- Gilead Sciences, Inc.
- Bristol-Myers Squibb
- Pfizer In.
- Merck & Co., Inc.
- Amgen Inc.
- Johnson & Johnson
- AstraZeneca
- Bluebird bio, Inc.
- CRISPER Therapeutics AG
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Key Questions Answered in Cancer Gene Therapy Market Report
- How big is the global cancer gene therapy market?
- Which region is leading in global cancer gene therapy market?
- Which is the largest segment in the cancer gene therapy market?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of cancer gene therapy market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the cancer gene therapy market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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Cancer Biological Therapy Market
Cancer Therapeutics Market
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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