Cancer Gene Therapy Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Global Cancer Gene Therapy Market: Cancer gene therapy is a process that treats cancers by inserting therapeutic DNA into the patient. Cancer gene therapy is gaining popularity as a result of its success rate in preclinical and clinical trial stages. The most common technique for cancer gene therapy involves replacing a mutated gene that is causing cancer with a healthy copy of the gene. A new technique that is being introduced to cancer gene therapy market involves insertion of new genes into the body that would help to fight against tumor cells.
Globally, rising cancer prevalence will increase demand for gene therapy as the effective personalized treatment choice. Various factors, such as the increase in the prevalence of cancer, rising government initiatives, increase in funding from various government and non-government organizations, ethical acceptance of gene therapy for treatment of diseases and growing popularity of DNA vaccines is driving the global cancer gene therapy market. However, less awareness and high cost involved in treatment, Lack of reimbursement policies for advanced gene therapy methods are restraining the growth of the global market for cancer gene therapy.
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The Global cancer gene therapy market is segmented on the basis of type, therapy, end-user and regional
Based on the type, global cancer gene therapy market is segmented as:
- Gene Induced Immunotherapy
- Tumour Antigen Gene Delivery
- Cytokine Gene Delivery
- Oncolytic Virotherapy
- Adeno Associated Virus
- Alpha Virus
- Herpes Simplex Virus
- Vaccinia virus
- Simian Virus
- Gene Transfer/ Gene Replacement
- Naked / Plasmid Vectors
- Gene Gun
Based on the therapy, global cancer gene therapy market is segmented as:
- Retroviral Therapy
- Adenoviral Therapy
Based on the end-user, global cancer gene therapy market is segmented as:
- Oncology institutes
- Biotechnological companies
- Clinical Research Labs
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Global cancer gene therapy market is highly fragmented with small biotech firms holding a chunk of the overall industry share. Major industry participants adopting various strategies to retaining their market positions such as the development of advanced technologies, maintaining a strong intellectual property, strategic collaborations, and joint ventures adopted by in the global cancer gene therapy. As per WHO, cancer incidence is projected to rise by 50% to reach 15 Mn by the end of this decade. This alarming increase in the number of patients and side effects associated with various chemotherapy drugs necessitates this as a potential treatment approach addressing the growing global burden of the cancers. Small biotech firms dominate the global cancer gene therapy market than the bigger players. The players are constantly engaged in R&D in order to develop novel methods to treat various life-threatening diseases. Increased in the adoption of emerging genomic technologies such as Next Generation Sequencing (NGS) and high-density microarray coupled with favorable government initiatives will fuel global cancer gene therapy market. For instance, CDC supports nationwide screening programs for control of breast, cervical and colorectal cancer among low-income women with little or no health insurance.
Geographically, the cancer gene therapy is segmented into North America, Europe, Latin America, Asia- Pacific and the Middle East and Africa. North America leads the global cancer gene therapy market owing to the large pool of aging population and advancements in technology high investments in R & D activities along with the government support will boost industry demand. The U.K. market is anticipated to grow rapidly over the forecast period due to the rising occurrence of cancer along with the increase in acceptance of gene technology. Asia-Pacific is expected to witness high growth in cancer gene therapy market, due to increase in government initiatives, rising economy, and improvement in healthcare infrastructure in the region. Some of the key driving forces for cancer gene therapy market in emerging countries are increasing R&D investment, a large pool of patients and rising government funding.
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Some of the major companies operating in the global cancer gene therapy market are Urigen Pharmaceuticals Inc. (U.S), GenVec.Inc (U.S), Oxford BioMedica (U.K), Vical (U.S), ANI Pharmaceuticals, Inc. (U.S), and Genzyme Corporation (U.S). Novartis AG (Switzerland), and Cell Medica (U.K.)
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