Market Study Report has added a new report on Cancer Gene Therapy market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Cancer Gene Therapy market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
Cancer Gene Therapy Market size is expected to exceed USD 2.5 billion by 2025. Rising cancer prevalence across the globe will positively impact the cancer gene therapy market growth.
Some major findings of the cancer gene therapy market report include:
– Increasing mortality rates due to cancer has created a huge demand for cancer gene therapies
– Technological advancements in the biotechnology sectors has led to developments in the cancer gene therapy that are being now preferred by healthcare professionals
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– Regulations for cancer gene therapy are quite structured and stringent in developed economies such as the U.S. and Germany while the regulatory scenario is still ambiguous in emerging economies
– Cancer gene therapy industry is still in developing phase and yet to witness numerous growth opportunities in the coming years
– Some of the major industry players include Sirion Biotech, Vigene Biosciences, bluebird bio, Ziopharm, Cellectis, Cobra, Finvector, Uniqure, Sarepta Therapeutics, Caribou among others. These industry players adopt several strategic initiatives to maintain their market position.
Technological advancements in the biotechnology sector have led to developments and innovations in cancer gene therapy. Recently developed cancer therapies have been incorporated with genetically modified genes that blocks the growth of tumor. Moreover, efficient PCR technology and isothermal amplification technologies have been introduced that transformed the way of detecting mutations in the genes.
Moreover, introduction of CRISPR gene editing tools have modified the process of developing gene therapy. Hence, advancements in technology has ensured availability of advanced cancer gene therapy that will boost the industry growth. However, high cost of cancer gene therapy may impede its demand, thereby restraining the industry growth to certain extent.
Type segment of cancer gene therapy market includes ex-vivo and in-vivo. In-vivo segment is projected to experience around 22% growth throughout the analysis timeframe owing to various advantages associated with it. In-vivo gene therapy involves direct delivery of therapeutic gene into the target cell and has shown effective results in treatment of cancer. The viral vectors that are delivered utilizing in-vivo gene therapy help in inhibiting the activity of tumor inducing genes and has also shown positive results during clinical trials. Aforementioned factors will elevate the segmental growth.
Products of cancer gene therapy include viral vectors and non-viral vectors. Viral vectors segment was valued over USD 310 million in 2018. Viral vectors are highly preferred during gene transfer process as they have showcased high transfection efficiency. Viral vectors possess safety profile as compared to other vectors. Moreover, viral vectors expresses the desired antigen in accurate conformation enhancing the immune system.
End-users of cancer gene therapy are biopharmaceutical companies, research institutes and others. Biopharmaceutical companies segment accounted for around 48% revenue share in 2018 and is expected to experience exceptional growth in the forthcoming years. Companies such as Novartis and Roche are developing cancer gene therapies that have high adoption of viral as well as non-viral vectors, thereby proving beneficial for the segmental growth. These companies also conduct clinical trials that raises the demand for vectors, hence fostering the segmental growth.
China cancer gene therapy market will experience over 26% CAGR throughout the forecast years. Significant country growth can be attributed to the rising awareness regarding the availability of advanced therapies for treating cancer. Furthermore, increasing government initiatives and funds motivate the researchers and scientists for carrying out extensive research activities associated with cancer gene therapy that will positively influence the country growth. Above mentioned factors coupled with increasing prevalence of cancer will further stimulate the industry growth.
Cancer gene therapy industry is dominated by few major players. Cancer gene therapy industry is still in the developing phase, therefore, players involved in thie market focus on integrating advanced technology to promote developments in the therapies. The players also implement certain strategic initiatives such as merger, acquisitions and product launches for acquiring competitive advantage. For instance, in 2013, Celgene and bluebird bio collaborated to introduce innovations in gene therapies. Such collaborations will provide both the companies to gain competitive advantage over others.
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