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Cancer Gene Therapy Market Trends

Report ID: GMI763
Published Date: Apr 2024
Report Format: PDF

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Cancer Gene Therapy Market Trends

The rising incidence of cancer cases is projected to create a high demand for novel therapeutic drugs that might prove effective for cancer treatment. As the number of cancer cases rises, there is a greater demand for effective treatment options. Also, cancer gene therapy offers a promising approach by targeting the underlying genetic mechanisms driving cancer or oncology development, thereby providing patients with additional therapeutic options. For instance, in September 2022, the Hadassah Cancer Research Institute (HCRI) announced CancerRNA, a worldwide initiative aimed at advancing the development and utilization of RNA-based immunotherapy to harness anti-cancer immune responses more effectively. Such initiatives associated with cancer therapy is expected to impel the market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global cancer gene therapy market was valued at USD 2.2 billion in 2023 and is expected to reach USD 11.8 billion by end of 2032, driven by rising prevalence of cancer cases and the growing need for gene therapy.

The biopharmaceutical companies segment in the cancer gene therapy industry is expected to exhibit 21% CAGR between 2024 – 2032, propelled by the growing utilization of fundamental gene therapy approaches to develop cancer treatment regimens.

North America cancer gene therapy market secured a substantial share of 43.7% in 2023, attributed to the significant investment in R&D, presence of key players, and collaborations between biopharmaceutical companies, research institutions, and healthcare providers.

Abeona Therapeutics Inc., Altor Bioscience Inc., Asklepios BioPharmaceutical Inc., Bluebird bio, Inc., Bristol-Myers Squibb Company, Elevate Bio, Genelux Corporation, GSK plc, Introgen Therapeutics Inc., Merck KGaA and Novartis AG