WESTFORD, Mass., July 19,
2024 /PRNewswire/ -- According to SkyQuest, the
global Cancer Gene Therapy Market size was valued at
USD 2.38 billion in 2022 and is
poised to grow from USD 2.86 billion
in 2023 to USD 12.63 billion by 2031,
growing at a CAGR of 20.42% in the forecast period (2024-2031).
Cancer has plagued the world and is probably the leading chronic
disease affecting millions of people. Demand for novel cancer
treatments and therapeutics is always high, which is projected to
help boost the adoption of cancer gene therapy. Advancements in
genetic engineering and the growing acceptance of gene therapies
for multiple indications are forecasted to create new opportunities
for cancer gene therapy providers in the future. The global cancer
gene therapy market is segmented into therapy, indication, end
user, and region.
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Cancer Gene Therapy Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 2.86
Billion
|
Estimated Value by
2031
|
$ 12.63
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 20.42%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Therapy, Indication,
End User, and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Growing acceptance of
novel gene therapies for cancer treatment
|
Key Market
Opportunities
|
Rising investments in
gene and cancer research
|
Key Market
Drivers
|
Growing number of
cancer cases and high demand for novel treatments
|
Segments covered in Cancer Gene Therapy Market are as
follows:
- Therapy
- Gene Induced Immunotherapy, Oncolytic Virotherapy, and Gene
Transfer
- Indication
- Breast Cancer, Ovarian Cancer, Liver Cancer, Pancreatic Cancer,
Lung Cancer, Prostate Cancer, and Others
- End User
- Hospitals, Diagnostic centers, Research Institutes, and
Others
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Gene Therapies for Breast Cancer Treatment are Slated to be
Highly Popular Going Forward
The incidence of breast cancer around the world has risen
substantially in recent years owing to growing awareness and
increasing availability of advanced diagnostic procedures. High
investments in R&D to develop new diagnostic and treatment
procedures for breast cancer around the world are projected to help
this segment lead the cancer gene therapy market. Gene transfer and
suppression are mostly used to treat breast cancer via gene
therapies.
Meanwhile, the demand for gene therapy to treat lung cancer is
projected to shine bright across the forecast period. Lung cancer
amounts to the biggest mortality rate of any other cancer
indications, and this is why the demand for novel treatments to
treat it is increasing at a rapid pace. Bad air quality due to
increased air pollution levels has led to the high incidence of
lung cancer, which is why this segment presents highly lucrative
opportunities for cancer gene therapy providers.
Gene Induced Immunotherapy Remains Preferred Owing to High
Emphasis on Fighting Cancer through the Immune System
Fighting cancer through the immune system has been the best
approach proven to treat multiple types of cancers. Gene induced
immunotherapy combines the advantages of immunotherapy and gene
therapy to provide a much better treatment for cancer indications
as compared to either one being used on its own. High investments
in research and development of new therapies based on the immune
response approach will also help this segment offer new
opportunities for cancer gene therapy companies.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/cancer-gene-therapy-market
Most Cancer Gene Therapies are Slated to be Performed in
Hospitals
Hospitals are projected to emerge as major end users of cancer
gene therapies. Growing rates of hospitalization due to cancer and
the high availability of novel gene therapies in the same are also
estimated to help this segment hold a prominent chunk of market
share. Biopharmaceutical companies are also estimated to be highly
lucrative for cancer gene therapy providers as they focus on
developing new cancer treatments and therapeutics.
Surging incidence of multiple types of cancers around the world
makes this an opportune market. New as well as established cancer
gene therapy providers should invest heavily in R&D to maximize
their business scope.
Related Report:
Gene Therapy Market
Cancer Biological Therapy Market
Cancer Therapeutics Market
Breast Cancer Therapeutics Market
Gene Editing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
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SOURCE SkyQuest Technology