The global cancer gene therapy market is anticipated to grow at a significant CAGR of 23.1% during the forecast period. Gene therapy is a process to treat or prevent disease by replacing mutated genes with healthy genes. This replacement allows the cells the production of useful proteins. It can also change the way genes are generated. This enables under or overactive genes to operate properly. Gene therapy can be used for expressing entirely foreign genes in cells that alter their function or survival. During cancer treatment, the genes are replaced for fighting against carcinogenic tumor cells. The cancer gene therapy market inserts therapeutic DNA into the patient for the treatment of cancer. It is considered to be an effective treatment for cancer as it causes minimum side effects with maximum efficacy. According to Globocan 2020, more than 19.3 million new cancer cases and 10.1 million cancer-related deaths were reported across the globe. Various gene therapy strategies are now being used in the treatment of cancer.

Impact of COVID-19 Pandemic on Global Cancer Gene Therapy Market

The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the diagnosis of six main types of organ cancers, including breast, colorectal, lung, pancreas, stomach, and oesophageal, which has decreased significantly during the COVID-19 pandemic. Thus, further, decreasing the overall cancer gene therapy market revenue globally. However, gene and cell therapy technology is expected to be extensively used in the development of vaccines used to treat COVID-19. For instance, in January 2021, vaccination candidates produced by Mass General Brigham and created using gene-therapy technology elicited robust immune responses in animal models for COVID-19 treatment. The vaccine candidate was given the moniker AAVCOVID, and the researchers were awarded a $2.1 million grant from the Bill and Melinda Gates Foundation to further develop the technology.

Segmental Outlook 

The global cancer gene therapy market can be segmented based on therapy and end-users. Based on the therapy, the cancer gene therapy market is bifurcated into gene transfer immunotherapy, oncolytic virotherapy, and gene-induced immunotherapy. The gene-induced immunotherapy is further segmented as delivery of cytokines gene and delivery of tumor antigen gene. Based on end-users, the global cancer gene therapy market is diversified as hospitals, research institutes, and biotech companies.

Global Cancer Gene Therapy  Market Share by End-Users, 2021 (%)

The Hospitals Segment is Anticipated to Hold the Prominent Share in the Global Cancer Gene Therapy Market

Among the end-users, the hospitals' segment is anticipated to hold a prominent share in the cancer gene therapy market. The primary factor accelerating the market growth is the increase in healthcare awareness, the rise in the number of hospitals, along with the growth in the geriatric and bariatric populations. For instance, in June 2021, Tata Memorial hospital of Mumbai, India collaborated with IIT Bombay and conducted its first Chimeric Antigen Receptor T-cell (CAR-T) therapy, a type of gene therapy for blood cancer treatment. Additionally, the government of India has further allocated $1.1 million to conduct first-in-human phase-I/ II clinical trials of the CAR-T cells within the country.

Regional Outlooks

The global cancer gene therapy market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. North America is expected to hold a prominent share in the cancer gene therapy market owing to the presence of high-quality healthcare infrastructure. In addition, the presence of a large pool of cancer patients and an aging population in the region is another factor responsible for regional growth, followed by Europe.

Global Cancer Gene Therapy  Market Growth, by Region 2022-2028

The North America  Region Expected to Hold a Prominent Share in the Global Cancer Gene Therapy Market

The North American region is projected to grow fastest during the forecast period. One of the major factors which are propelling the market growth includes the rising government investments coupled with the growing prevalence of target diseases across the region. For instance, in March 2019, the federal government of the US announced $80 million for the development of CAR-T therapies at New York’s Peter MacCallum Cancer Center. Moreover, a growing focus on developing effective cancer medicines is another factor bolstering the market growth.

Market Players Outlook

The major companies serving the global cancer gene therapy market include Amgen Inc., Bluebird Bio, Gilead Sciences, Inc., Novartis AG, Orchard Therapeutics, Sibiono GeneTech Co. Ltd., Spark Therapeutics (Roche AG), and UniQure N.V., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2021, CyGenica secured funding from SOSV, a venture capital company, to accelerate cancer and rare genetic disease therapy.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global cancer gene therapy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.