Cancer Gene Therapy Market Size to Exceed USD 9.7 Bn by 2030

According to Nova one advisor, the global Cancer Gene Therapy market size was valued at USD 2.8 billion in 2021 and is predicted to hit USD 9.7 billion by 2030 with a registered CAGR of 20.9% during the forecast period 2022 to 2030.

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The increasing demand for novel therapeutics globally and rising incidence of cancer cases globally. Moreover, this therapy offers an absolute solution to different kinds of inherited and induced cancer conditions, which makes it a more desired option for cancer therapeutics. For instance, Kite’s Tecartus (brexucabtagene autoleucel) is approved by the FDA for the treatment of relapsed or refractory B-cell precursor acute lymphoblastic leukemia.

There is an increasing prevalence of malignant tumor cases across the globe, which is expected to propel the need for various strategies for effective treatment and to combat the increasing incidence of malignant tumors. Moreover, technological advancements in the market are expected to provide new opportunities for novel therapeutics. As a result, there is an increasing number of product approvals. For instance, in March 2022, European Medicine Agency recommended conditional marketing authorization for Carvykti (ciltacabtagene autoleucel) to be used for the treatment of subjects with relapsed and refractory multiple myeloma.

The market is positively driven by the lucrative support from the government and national cancer societies across the globe. There has been an increasing focus on increasing funds for research on cancer gene therapy. For instance, in December 2021, The Dutch platform called DARE-NL (in the Netherlands) has been awarded a USD 5.2 million grant from the KWF Dutch cancer society. The grant allows the DARE-NL to level up the availability of cell and gene therapy strategies accessible to the needy population.

The investment in new and complex technologies is relatively low for Asian manufacturers as they are more focused on less complex molecules that can be produced in bulk. Thus, the investment in high-yielding, low-cost technologies is an alternative for manufacturers in other developed regions such as Europe and North America to avoid competitive pressure.

Key players operating in the market are focusing on collaborations for the development of potent cancer gene therapy drugs. For instance, in August 2022, Gensaic signed a collaboration with Ovid Therapeutics for the development of up to three genetic medicines for central nervous system indications using its proprietary phage-derived particle gene therapy platform. 

Report Scope of the Cancer Gene Therapy Market

Key Takeaways:

• The market is witnessing a key shift with the rise in gene level understanding of a cancer condition and rising need for gene induced immunotherapy and personalized medicine
• The gene induced immunotherapy segment held the largest share in 2021 due to increase in the advancement in gene induced immunotherapy research
• Biopharmaceutical companies held the largest market share in 2021 owing to rising demand for novel gene therapy and increasing number of FDA approvals for cancer gene therapy. Biopharmaceutical companies are anticipated to witness the fastest growth in the forecast period due to increasing research and development activities in the field
• North America dominated the market in 2021 due to the presence of key players and rising support from the government and National Cancer Institute to advance the research on oncology in the region

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Regional Insights

North America accounted for the largest share of over 61.0% in 2021. This is attributed to the conducive environment facilitated by the government and the National Cancer Institute that supports research and development activities to enhance cancer therapeutics. Further, the presence of key market players in the region, their research efforts in devising gene therapy for cancer treatment, and collaborative efforts among market players to enhance research are boosting the market growth in the region. For instance, in August 2022, Merck & Co., Inc., collaborated with Orna Therapeutics Inc., for discovery, development, and commercialization of multiple programs, inclusive of utilization of mRNA for cancer gene therapy.

Europe is estimated to be the fastest-growing region over the forecast period due to increase in research funding for novel therapeutics by government bodies and increasing demand for novel therapeutics that could help combat the growing incidence of cancer cases across the region. Moreover, The European Union’s ‘Horizon Europe Mission on Cancer’ was launched in September 2021 so as to offer funds to a broad spectrum of activities that are intended to lower Europe’s cancer burden by accelerating research and innovation in cancer therapeutics. The mission is anticipated to help over 3 million cancer survivors by the year 2030.

Some of the prominent players in the Cancer Gene Therapy Market include:

• Abeona Therapeutics Inc.
• Asklepios BioPharmaceutical Inc.
• Altor Bioscience Inc.
• Bluebird bio Inc.
• BioCancell Inc.
• CelgeneInc.
• Elevate BioInc.
• GlaxoSmithKlineInc.
• Genelux Corporation
• GenVec
• Introgen TherapeuticsInc.
• MerckKGaA
• OncoGenex Pharmaceuticals Inc. 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Cancer Gene Therapy market

• Therapy
  • Oncolytic Virotherapy
  • Gene Induced Immunotherapy
  • Gene Transfer
• End-use
  • Research Institutes
  • Biopharmaceutical Companies
  • Diagnostic Centers
  • Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Cancer Gene Therapy industry analysis from 2022 to 2030 to identify the prevailing Cancer Gene Therapy industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Cancer Gene Therapy industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Cancer Gene Therapy industry trends, key players, market segments, application areas, and market growth strategies.

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