Developments and Opportunities in the Cancer Gene Therapy Market

Posted in Healthcare Services by Adolf on Jul 8,2023 381

Gene therapy is a method of replacing or inactivating the mutated genes responsible for causing diseases or the genes that affect the proper functioning of organs, by introducing a new gene into the body. The adoption of cancer gene therapy is rising due to its high success rate achieved during trials. Cancer gene therapy is used as a substitute of the conventional drugs and surgeries to treat cancer. It has several advantages including high efficacy, minimum side effects and speedy recovery.

According to the World Health Organization (WHO), cancer claimed the lives of nearly 9.6 million in 2018, and is the second-leading cause of death world-wide. At global level, about 1 out of 6 deaths happen due to cancer. Also, improving regulatory standards regarding the quality of products utilized in gene therapy, growing investments for R&D activities, rising popularity of DNA vaccines, ethical acceptance of the gene therapy treatments in treating cancer, are anticipated to fuel the growth of global cancer gene therapy market during the forecast period.

Nevertheless, the market growth during the forecast period may face certain challenges, including the cost of gene therapy treatment, potential immune responses, and associated risks. On the other hand, growing geriatric population world-wide, favourable reimbursement policies, advancements in product technologies, and untapped market opportunities offered by the emerging economies, are expected to create lucrative opportunities for the market players.

The Global Cancer Gene Therapy Market is anticipated to witness impressive growth during the forecast period. Growing demand for painless treatment at lower cost coupled with increasing aesthetic consciousness among the population significantly increases the demand for cancer gene therapy across different parts of the globe. Besides, growing awareness about the advantages of using gene therapy and diagnosis, along with increasing healthcare expenditure on cancer treatment across the globe, is further expected to support the Cancer Gene Therapy Market during the forecast period.

Increasing research and development activities -

Increasing research, development activities and technological advancement with developed healthcare infrastructure is the major factor for the growth of the cancer gene therapy market during the forecast period. Government organizations are focusing on developed infrastructure with higher profit. Different type of innovative therapies is available for cancer therapy which is ethically acceptable, and the increasing development of new products are expected to boost the market growth over the years. The growing regulatory environment has enhanced the demand for cancer gene therapy which will boost market growth during the forecast period.

Due to their direct connection to consumer health, regulations are placed on producers to assure the release of products that are free from flaws which can drive market growth over the years. Some laws have been changed to prevent product recalls during post-marketing surveillance since any flaws in gene therapy goods could be disastrous for patients. However, the expansion of the cancer gene therapy market in the years to come will be aided by the growing availability of high-quality cancer gene therapy.

Moreover, the growing prevalence rate of lifestyle disorders such as diabetes and obesity, excessive alcohol consumption, tobacco use, low physical activity, high body mass index, and low intake of fruits and vegetables because of the growing population is further expected to create a lucrative growth of the market during the forecast period.

In March 2022, the National Heart, Lung, and Blood Institute granted US$ 12 million to an Indiana University School of Medicine Researcher. This grant is for developing a major part of a gene therapy approach to safer and potentially curative treatments for haemophilia diseases.

So different private and government organizations are investing in gene therapy for curing cancer diseases across the globe. Similarly, increasing demand for laboratory automation and growing awareness of preventative healthcare are the major factors that will boost the market growth over the years.

The Global Cancer Gene Therapy Market can be segmented by therapy, indication, end user, and by region. Based on therapy, the market can be segmented into Oncolytic Virotherapy, Gene Induced Immunotherapy, Gene Transfer, and Others. Based on indication, the market can be segmented into Breast Cancer, Ovarian Cancer, Lung Cancer, Liver Cancer, Pancreatic Cancer, Prostate Cancer, and Others. Based on the end user, the market can be differentiated by Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, and Others. Regionally, the United States dominates the global cancer gene therapy market on account of the growing demand for advanced therapy with low costs for curing cancer diseases in the country.

Recent Developments -

  • In Sept 2021, Adaptimmune collaborated with Genentech to develop allogeneic cell therapies indicated for the treatment of multiple cancers.
  • In June 2021, Eisai and Bristol Myers Squibb agreed to partner for the development and commercialization of Eisai's ADC, MORAb-202, for the treatment of advanced solid malignancies.
  • In June 2021, GSK and iTeos Therapeutics partnered to develop EOS-448, an anti-TIGIT monoclonal antibody that had previously been approved in phase 1 for the treatment of advanced solid malignancies.

Abeona Therapeutics Inc., Asklepios BioPharmaceutical Inc., Altor Bioscience Inc., Bluebird bio-Inc., BioCancell Inc., Celgene Inc., Elevate Bio Inc., GlaxoSmithKline Inc., Genelux Corporation, Introgen Therapeutics Inc., OncoGenex Pharmaceuticals Inc., Merck KGaA are some of the leading players operating in the Global Cancer Gene Therapy Market

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