Global cancer gene therapy market share is anticipated to witness a major upsurge over 2019-2025, driven by the rising prevalence and high mortality rate of cancer worldwide.
Global cancer gene therapy market share is anticipated to witness a major upsurge over 2019-2025, driven by the rising prevalence and high mortality rate of cancer worldwide.
Likewise, rapid advances in technology in the biotechnology sector has positively influenced the adoption of gene therapy drugs for cancer, which is widely preferred by healthcare professionals.
Cancer therapies developed recently are incorporated with genetically-modified genes to hinder tumor growth. This rapid innovation, coupled with the introduction of efficient PCR & isothermal amplification technologies to detect gene mutations, will give overall cancer gene therapy market a significant boost over the coming years.
As per Global Market Insights, Inc. estimates, the cancer gene therapy market size is expected to surpass $2.5 billion by 2025.
High preference for viral vectors in gene transfer process
In terms of segmentation by type, the in-vivo segment is anticipated to exhibit a growth rate of nearly 22% through 2025, which can be credited to myriad usage advantages such as effective treatment of cancer. In addition, the viral vectors delivered using the in-vivo gene therapy also aid in inhibiting the tumor-inducing genes.
Based on product, the global cancer gene therapy market share from the viral vectors segment registered revenue worth $310 million in 2018, which is attributable to mounting preference for the product in the gene transfer process due to enhanced transfection efficiency. As compared to other vectors, the segment has a high safety profile and expresses the desired antigen with accurate conformation to boost the immune system.
For instance, in April 2020, Merck announced the launch of a U.S.-based facility to deliver its BioReliance® viral and gene therapy services. The new facility expansion was carried out with an aim to boost the reach of this gene therapy with viral vectors to patients in need.
Presence of strict & structured regulations in developed economies
With regards to the end-use spectrum, the global cancer gene therapy market is bifurcated into biopharma companies and research institutes. Of these, the biopharmaceutical companies segment held over 48% revenue share in 2018 and is likely to account for a considerable share in the forthcoming years, due to the rapid development of gene therapy for cancer by various market players like Roche and Novartis. Additionally, these companies conduct several clinical studies that spur the vector demand, thereby stimulating the segmental growth over the estimated timeline.
Developed countries such as Germany and the U.S. have been witnessing stringent and structured regulations for cancer gene therapy. Introduction of the CRISPR gene editing tools has favored the development of advanced cancer gene therapy and in turn, will bolster the global industry expansion over the forecast spell.
However, high costs associated with the cancer gene therapy treatment may become key challenges hampering the market trends in years ahead.
To access sample pages of this report titled, “Cancer Gene Therapy Market Size By Type (Ex-vivo, In-vivo) By Product (Viral Vectors {Adenoviruses, Lentiviruses, Retrovirus, Adeno Associated Virus, Herpes Simplex Virus, Vaccinia Virus}, Non-viral Vectors), By End-use (Biopharma Companies, Research Institutes), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/763
Strong availability of advanced cancer gene therapy in China
On the regional front, the China cancer gene therapy market is projected to depict a CAGR of around 26% through 2025, owing to the increasing awareness about the availability of advanced cancer therapies in the region. The segmental growth will further be driven by the high government initiatives & funds that motivate scientists and researchers to carry out extensive R&D activities.
The competitive landscape of the cancer gene therapy market comprises of companies such as Caribou, Sarepta Therapeutics, Uniqure, Finvector, Cobra, Cellectis, Ziopharm, Vigene Biosciences, and Sirion Biotech, among others. These industry players are adopting strategic initiatives such as M&A, business expansions, and innovative product launches to gain a competitive advantage and maintain their market position across the globe.
For example, in July 2020, the U.S. FDA approved a cell-based gene therapy, Tecartus, which was developed with an objective to treat patients with refractory or relapsed MCL (mantle cell lymphoma), a rare type of cancerous B-cell non-Hodgkin’s lymphoma.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com