[195+ Pages Report] According to Facts and Factors Market Research, the global Cancer gene therapy market in 2019 was approximately USD 800 million. The market is expected to grow at a CAGR of 23% and is anticipated to reach around USD 3,400 million by 2026.
Cancer Gene Therapy Market: Overview
Gene therapy is a method for curing or avoiding the substitution of mutated genes of health diseases. This replacement enables cells to produce valuable proteins. This may also affect the distribution of genes. This helps underactive or overactive genes to behave correctly. Gene therapy may be used for cells that alter their function or survival to express completely foreign genes. Genes are modified to destroy carcinogenic tumor cells all through cancer treatment. The demand for cancer gene therapy incorporates therapeutic DNA into the cancer treatment patient. It is known as an effective treatment for cancer because it causes limited side effects with optimum efficacy.
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Cancer Gene Therapy Market: Growth Driving Factors
Factors that contribute significantly to the growth of the world market for cancer gene therapy include an increasing number of cancer patients and an increasing geriatric population base. There is an increase in cancer patients worldwide every year. According to the WHO, cancer is the second leading cause of death in 2016. One death out of six deaths is also believed to have been caused by cancer. A further significant factor in the prevalence of gene therapy for cancer is the increase in R&D activities due to substantial investment in gene therapy for cancer. However, the high cost of treatment is a factor that has a negative effect on business development.
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Cancer Gene Therapy Market: Top Market Players
- Vigene Biosciences
- Sirion Biotech
- Bluebird bio
- Sarepta Therapeutics
Cancer Gene Therapy Market: Major Market Segments
Based on the type, the cancer gene therapy market is segmented into ex-vivo and in-vivo therapy. The ex-vivo cancer gene therapy segment held the majority shares of around 55% in 2019, this surge for this segment is attributable to its increasing adoption of blood cancer treatment.
By Product, the market is bifurcated into viral vectors, non-viral vectors, and others. The non-viral vectors segment is projected to witness a growth of over 23% over the forecast period. The major driving factor for the growth of this segment is the low toxicity and immunogenicity of this vector, which reduces the risks of infections and allergies from patients suffering from cancer.
Cancer Gene Therapy Market: Regional Analysis
The regional segmentation of the Cancer gene therapy industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the Cancer gene therapy industry is provided for the leading economies of the world.
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This report segments the Cancer gene therapy market as follows:
Global Cancer gene therapy Market: By Type Segmentation Analysis
Global Cancer gene therapy Market: By Product Segmentation Analysis
- Viral Vectors
- Non-viral vectors
Global Cancer gene therapy Market: By End-User Segmentation Analysis
- Biopharma companies
- Research institutes
Key Insights from Primary Research
- As per our primary respondents, the Cancer gene therapy market is set to grow annually at a rate of around 23%.
- It was established through primary research that the Cancer gene therapy market was valued at around USD 800 million in 2019.
- After secondary research, we performed face-to-face interviews to validate our data. The insights interviewee’s declared that Ex-vivo is the most used type for the global cancer gene therapy market.
- On the basis of the product, the Non-viral Vectors segment dominated the global cancer gene therapy market in 2019. It accounted for around 47% share of the total market in 2019.
- The Biopharma companies segment, on the basis of end-use segmentation, was the leading revenue-generating category accounting for around 59% share, in 2019.
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