Global Cancer Gene Therapy Market Research and Forecast 2018-2023

Posted by Orion Market Research on September 25th, 2018

Gene therapy is a process to treat or prevent disease replacing the mutated genes with healthy genes.  This replacement allows the cells for 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. 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.

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The factors that are contributing significantly to the growth of global cancer gene therapy market includes rising pool of population with cancer patients coupled with increasing geriatric population base. Globally there is rise in the cancer patients each year. According to the WHO cancer is considered to be the second leading cause of deaths in the year 2015. It is also estimated that that 1 death out of 6 deaths is caused by cancer. Rise in R&D activities owing to the extensive funding in the field of cancer gene therapy is another major factor for the prevalence of cancer gene therapy. However, high cost of the treatment is a factor that has negative impact on the growth of the market.

The cancer gene therapy market can be segmented on the basis of therapy and end users. Based on the therapy, the cancer gene therapy market is bifurcated as 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. On the basis of end users, the global cancer gene therapy market is diversified as hospitals, research institutes and biotech companies.

The global cancer gene therapy market is further analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. The regions analyzed in the report involve North America, Europe, APAC and Rest of the World. The North America is expected to be dominating in the cancer gene therapy market owing to the presence of high quality healthcare infrastructure. In addition, presence of large pool of cancer patients and aging population in the region is another factor responsible for the regional growth. Europe is another significant market and holds a considerable market share in the global cancer gene therapy market.

Some of the players operating in the global cancer gene therapy market are Merck & Co., Inc., Bluebird bio Inc., Celgene Corporation and several others. In order to sustain in the competitive market, these players adopt various strategies such as merger & acquisitions, expansions, joint ventures and product development and partnership and collaboration. For an instance, Celgene Corporation in July 2015 entered into a strategic immuno-oncology collaboration with BeiGene, Ltd. for advancing PD-1 Inhibitor program for solid tumor cancers.

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