DUBLIN--(BUSINESS WIRE)--Nov 18, 2022--
The "Cancer Gene Therapy Market Size, Share & Trends Analysis Report by Therapy (Oncolytic Virotherapy, Gene Induced Immunotherapy, Gene Transfer), by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global cancer gene therapy market size is expected to reach USD 8.7 billion by 2030. The market is expected to register a CAGR of 19.99% from 2022 to 2030 owing to 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.
Market Dynamics
Market Drivers
Market Restraint Analysis
Cancer Gene Therapy Market Report Highlights
Key Topics Covered:
Chapter 1 Cancer Gene Therapy Market: Methodology And Scope
Chapter 2 Cancer Gene Therapy Market: Executive Summary
Chapter 3 Cancer Gene Therapy Market: Industry Outlook
Chapter 4 Cancer Gene Therapy Market: Competitive Landscape
Chapter 5 Cancer Gene Therapy Market: Therapy Analysis
Chapter 6 Cancer Gene Therapy Market: End-Use Analysis
Chapter 7 Cancer Gene Therapy Market: Regional Business Analysis
Chapter 8 Cancer Gene Therapy Market: Company Profiling
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/7m2wbw
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/18/2022 07:11 AM/DISC: 11/18/2022 07:12 AM
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