- The global cancer gene therapy market is anticipated to expand at a CAGR of 22% (approx.) during forecast period.
- Diagnostic centers are anticipated to witness steady growth owing to improving gene therapy technology and rising investment on infrastructure.
- Asia Pacific is anticipated to be the fastest growing market over the forecast period.
Cancer gene therapy is used to cure a wide range of cancers through somatic aberration in the host genome to improve cancer regression. Cancer gene therapy is a treatment investigation method wherein foreign genetic material (DNA or RNA) is inserted into patient’s body to combat or prevent disease.
The cancer gene therapy market is anticipated to witness prominent growth over the forecast period owing to the high success rate during preclinical and post-clinical trials. The cancer gene therapy can be implemented in several ways. The most popular among these technique is the recently developed method that induces new genes into the body to resist against cancer cells. The global cancer gene therapy market is anticipated to expand at a CAGR of 22% (approx.) during forecast period.
The global cancer gene therapy market is segmented based on therapy, end user and geography. Based on therapy, the global cancer gene therapy market is segmented into gene induced immunotherapy, oncolytic virotherapy and gene transfer.
The Gene-induced immunotherapy is sub-segmented into cytokine gene delivery and tumour antigen gene delivery. The oncolytic virotherapy is sub-segmented into adenovirus, lentivirus, retro virus, adeno associated virus, herpes simplex virus, alpha virus, vaccinia virus, simian virus, and others. Similarly, the Gene transfer therapy is further sub-segmented into naked plasmid vector, electroporation, sonoportion, magnetofection, and gene gun. Among these, the oncolytic virotherapy dominated the global market and is anticipated to grow at a steady CAGR during forecast period. Gene transfer therapy is anticipated to be the fastest growing segment during coming years owing to rising demand from developing economies across Asia Pacific.
The report titled “Cancer gene therapy Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global cancer gene therapy market.
Furthermore, the report reflects on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study. For instance, GlaxoSmithKline plc reported revenues of $40.18 billion in 2018 and the segment and geographic analysis of the company indicates that Pharmaceuticals business segment is the dominating segment of the company, with the United States being the major revenue generating geography.
Additionally, the study provides in-depth analysis of an individual company considered under the scope of study with a focus on all operating business segment, and would identify the segment of the company focusing on cancer gene therapy products and services.
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Further, the market share of a company in the global cancer gene therapy market would also be calculated. For instance, GlaxoSmithKline plc operates through three business segments namely Pharmaceuticals, Vaccines, and Consumer Healthcare. Moreover, Pharmaceuticals business unit of the company deals with cancer gene therapy products, with a revenue contribution of $22.51 billion.
Based on end user, the global cancer gene therapy market is segmented into hospitals, diagnostic centers and research institutes. Hospital dominated the global gene therapy market owing to increasing number of inpatient affected with wide range of cancers. Diagnostic centers are anticipated to witness steady growth owing to improving gene therapy technology and rising investment on infrastructure. The research institutes are anticipated to be the most active node of the cancer gene therapy value chain and is anticipated to gain traction during the forecast period.
Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the market in 2018 owing to rising number of cancer patients across the region. Asia Pacific is anticipated to be the fastest growing market over the forecast period fueled by government initiatives from China, India, and other Southeast Asian countries to reduce mortality rate due to cancer.
Major players operating in the global Cancer Gene Therapy market include GlaxoSmithKline plc, Adaptimmune Therapeutics plc, Merck & Co. Inc., bluebird bio Inc., Shanghai Sunway Biotech Co. Ltd, Celgene, SIBIONO, Anchiano Therapeutic, Achieve Life Sciences Inc., and Synergene Active Ingredients Pvt. Ltd.