Cancer Gene Therapy Market is valued at USD 2058.7 Million in 2021 and expected to reach USD 4047.8 Million by 2028 with the CAGR of 10.14% over the forecast period.
Global Cancer Gene Therapy Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing prevalence of cancer, rising advancement in cancer therapy, and growing geriatric population are some of the major factors driving the growth of the Global Cancer Gene Therapy Market.
Cancer gene therapy is a method of treating cancer by changing the genetic instructions in a person's cells. It is used as an alternative to drugs and surgery for cancer treatment due to the high success rate achieved through trials. Cancer is a term used to describe a group of diseases characterized by the proliferation of abnormal cells that have the ability to invade or spread to other parts of the body. Cancer gene therapy is a cancer treatment strategy that involves inserting therapeutic DNA into a patient's gene. A treatment in which a mutant gene is replaced by a healthy gene or the inactivation of a gene whose function is inappropriate are examples of cancer gene therapy procedures. A new strategy to fight cancer cells involves delivering new genes into the body.
The Covid-19 pandemic has shown a negative impact on the growth of the global cancer gene therapy market. The Covid-19 pandemic led most governments around the world to impose lockdowns that severely restricted the diagnosis of six main types of organ cancer, including breast, colorectal, lung, pancreatic, stomach, and oesophageal, which have been significantly reduced during the Covid pandemic. Thus, the overall cancer gene therapy market revenue is declining globally. However, market conditions are expected to improve after the pandemic.
The global cancer gene therapy market is segmented based on the indication, end-user and region & country level. By indication, the global cancer gene therapy market is segmented into breast cancer, ovarian cancer, liver cancer, pancreatic cancer, lung cancer and prostate cancer. By end-user, the global cancer gene therapy market is segmented into research institutes, biopharma companies, and others.
The regions covered in the global cancer gene therapy market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global cancer gene therapy is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global cancer gene therapy market report cover prominent players like Merck KGaA, AstraZeneca Plc., Novartis AG, BIOCAD, EffRx Pharmaceuticals S.A., Euroscreen S.A., Vicore Pharma AB, Genelux Corporation, Cell Genesys Inc., Bristol-Myers Squibb, GenVec Inc., Amgen, Adaptimmune Therapeutics plc., Advantagene Inc., GlaxoSmithKline PLC, Achieve Life Science Inc., BioCanCell Ltd., Crinetics Pharmaceuticals, Inc., and others.
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 2058.7 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 4047.8 Million
|Tables, Charts & Figures:
|Cancer Gene Therapy Companies
|Merck KGaA, AstraZeneca Plc., Novartis AG, BIOCAD, EffRx Pharmaceuticals S.A., Euroscreen S.A., Vicore Pharma AB, Genelux Corporation, Cell Genesys Inc., Bristol-Myers Squibb, GenVec Inc., Amgen, Adaptimmune Therapeutics plc., Advantagene Inc., GlaxoSmithKline PLC, Achieve Life Science Inc., BioCanCell Ltd., Crinetics Pharmaceuticals, Inc., and others.
|By Indication, By End-Use
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
FDA Approved First Cell-Based Gene Therapy for Adult Patients with Multiple Myeloma
On March 27th, 2021; The U.S. Food and Drug Administration approved Abecma (idecabtagene vicleucel) for the treatment of adult patients with multiple myeloma who have not responded to cell-based gene therapy or whose disease has returned to at least four prior lines (of different types) of therapy.
A New Biotech Start-up for Cancer Treatment
On September 15th, 2020; Cellinta Limited has been formed through investment from SV Health Investors and Cancer Research UK has developed a new gene therapy to target a variety of cancers. The funding will help build a pipeline of highly selective gene therapies targeting cancer stem cells in a variety of solid tumors.
Increasing Prevalence of Cancer, Rising Number of Advancements in Cancer Therapy, and Growing Geriatric Population are Driving the Market Growth
One of the major factors driving the growth of the cancer gene therapy market is the increasing prevalence of cancer. For instance; according to World Health Organization, cancer is the leading cause of death worldwide, with about 10 million deaths in 2020. In addition, about one-third of all cancer deaths are caused by these causes. Five major dietary and behavioral risk factors are low intake of fruits and vegetables, high body mass index, tobacco use, lack of physical activity, and alcohol consumption. Gene therapy holds promise for treating a wide range of diseases such as cancer, heart disease, cystic fibrosis, diabetes, and AIDS. Gene therapy, which involves replacing a defective gene with a functional, healthy copy of that gene, is a potentially beneficial cancer treatment approach, especially over chemotherapy.
In addition, the rising number of advancements in cancer therapy are also boosting the growth of the cancer gene therapy market. Disruption of normal cell proliferation and apoptosis processes results in cancer. Advances in cancer therapy require new therapeutic agents with mechanisms of action, mechanisms of cell death, and interactions with conventional management. Gene therapy approaches have been developed for cancer management, including anti-angiogenic gene therapy, pro-apoptotic gene therapy, and gene-directed enzyme prodrug therapy. For instance; as per the news published; on July 23rd, 2021; new gene therapy was developed that could be effective against many types of cancer.
Moreover, the growing geriatric population is also supplementing the cancer gene therapy market growth. Aging is an inevitable time-dependent decline in organ function and is a major risk factor for the development of cancer. For instance; according to United Nation, in 2019, there were 703 million people in the world aged 65 years. The elderly population is projected to double to 1.5 billion by 2050. Thus, the increasing geriatric population has driven the market. Research has found that the elderly (defined as people aged 65 years and above) are 11 times more likely to develop cancer, compared to younger people. Thus, increasing geriatric population is also fostering the market growth.
However, the high cost associated with cancer gene therapy may hinder the growth of the cancer gene therapy market. Despite that, ethical acceptance of gene therapy for cancer treatment, and advancements in technology may create more opportunities for the further growth the global cancer gene therapy market.
North America Holds a Major Share in the Global Cancer Gene Therapy Market
Geographically, North America is expected to capture a major share in the global cancer gene therapy market within the forecast period due to the increasing number of hospitals, rising cases of cancer, and growing favorable reimbursement policies in this region. For instance; according to National Cancer Institute, in 2020, 1,806,590 new cases of cancer will be diagnosed in the US and 606,520 people will die from the disease. Therefore, increasing cases of cancer are expected to fuel the market growth over the forecast period in this region.
The Asia Pacific is the fastest-growing region in the global cancer gene therapy market due to the increasing prevalence of cancer, rising geriatric populations, and growing innovation and development in this field in this region. For example; as per an article published on Downtoearth; As many as 1,392,179 people in India had cancer in 2020, projections from another study showed. The five leading sites of the disease were breast, lung, mouth, cervix, uteri and tongue, researchers found.
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