Cancer Gene Therapy Market size to exceed $2.5bn by 2025

Cancer Gene therapy Market size is set to exceed USD 2.5 billion by 2025; according to a new research report by Global Market Insights Inc.
 

Rising government initiatives in emerging economies for promoting developments in the gene therapies will positively impact the cancer regenerative medicine market growth. Government often implements several laws and initiatives to motivate the scientists and researchers to perform extensive analysis on gene therapies. Furthermore, the government also funds various studies that are carried out for developing molecular therapies utilized in treatment of cancer. Aforementioned factors should escalate the industry growth.
 

Advancements in biotechnology field has positively influenced the cancer gene therapy industry growth

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There have been several advancements in the biotechnology sector that has proven beneficial for the industry growth. Several viral vectors have been introduced in the market that work efficiently for carrying out gene transfer. Researchers vigorously work on studying the efficacy and efficiency of the viral as well as non-viral vectors that are utilized in the gene therapy. Newly developed viral vectors are capable of inhibiting growth of tumor inducing genes and are preferred by biopharmaceutical companies. Moreover, healthcare professionals working on gene therapy have started trusting and preferring these viral vectors for treating cancer patients. Therefore, growing advancements will ensure availability of superior quality vectors for gene transfer that will foster the market growth.
 

Browse key industry insights spread across 95 pages with 120 market data tables & 8 figures & charts from the report, 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 (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cancer-gene-therapy-market
 

Increasing prevalence of cancer will positively impact the cancer gene therapy market growth

Type of cancer gene market is categorized into in-vivo and ex-vivo. In-vivo segment of cancer gene therapy market was valued over USD 350 million in 2018 and will experience substantial growth throughout the analysis period. In-vivo gene therapy is a cost-effective option since, it avoids the tedious process of removing cell from the patient’s body. Furthermore, in-vivo cancer gene therapy has been widely expected for treating cystic fibrosis that positively influences the business growth. However, in recent times, several high-profile adverse events pertaining to gene therapies were recorded that reduced has reduced its demand thereby, lowering the pace of segmental growth.
 

Based on product, the global market is bifurcated into viral vectors and non-viral vectors. Viral vectors segment of cancer gene therapy was is anticipated to foresee around 23% growth throughout the analysis timeframe. Adenovirus is one of the highly preferred viral vectors that has commendable transductional efficiency that raises its adoption. Moreover, adenovirus vector reduces the risk of mutagenesis. Besides, other viral vectors are also efficient and enable long-term DNA expression reducing the mortality rate in patients suffering from cancer. Aforementioned factors will spur the viral vectors segment growth.
 

End-use segment of cancer gene therapy includes biopharmaceutical companies, research institutes and others. Research institutes segment held around 40% revenue share in 2018. Significant segmental growth can be attributed to the increasing demand for viral vectors by research institutes that work on cancer gene therapies. Research institutes constantly focus on assessing the efficacy of gene therapies by using different vectors. Moreover, vector manufacturing companies develop superior quality viral as well as non-viral vectors that will positively influence the segmental growth.
 

Positive trends for cancer gene therapy has been captured for certain economies including UK

UK market accounted for around USD 35 million in 2018 and is projected to witness momentous growth during analysis timeframe. Increasing adoption of cancer gene therapy due to considerably high purchasing power has augmented the cancer gene therapy market growth in the country. Furthermore, increasing prevalence of cancer has positively influenced the industry growth. According to a study, in 2017, around 164,901 people died from cancer in UK that creates demand for advanced gene therapies for treating cancer.
 

Inorganic as well as organic growth strategies adopted by market players will create numerous growth opportunities

Industry players in the cancer gene therapy market include Sirion Biotech, Vigene Biosciences, bluebird bio, Ziopharm, Cellectis, Cobra, Finvector, Uniqure, Sarepta Therapeutics, Caribou among others. These industry players are implementing various strategic initiatives such as mergers, acquisitions, product launches, geographical expansions and collaborations. These strategic initiatives will render the players with competitive advantage. For instance, in 2018, bluebird bio and Celgene Corporation Enter into Agreement to promote developments in the therapeutic products. Both the companies can leverage operational efficiency to develop best in class products that will render them with sustainable profits.