Cancer Gene Therapy Market Growth and Forecast 2034
Cancer gene therapy is a cutting-edge treatment strategy that focuses on altering or engineering a patient’s genetic material to combat cancer. This approach may involve repairing faulty genes, activating genes that suppress tumor growth, or inserting new genes to boost the immune system’s ability to detect and eliminate cancer cells. By directly targeting the genetic basis of cancer, gene therapy offers a more precise and potentially less harmful alternative to conventional treatments such as chemotherapy and radiation. It utilizes advanced methods like gene transfer, gene editing tools such as CRISPR-Cas9, and viral vectors to deliver therapeutic genes into the body, paving the way for more personalized and effective cancer treatment options.
According to SPER market research, ‘Global Cancer Gene Therapy Market Size- By Product, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Cancer Gene Therapy Market is predicted to reach 26.62 billion by 2034 with a CAGR of 19.16%.
Drivers:
The increasing incidence of cancer is driving the need for advanced and innovative treatment options, with WHO reporting that cancer affects one in five people worldwide. Market growth is being propelled by technological advancements, robust research efforts, and heightened R&D investments from major industry players. A notable breakthrough occurred in April 2023 with the introduction of a gene editing technique using cell-penetrating peptides, enhancing the potential of gene and cell therapies. Strategic partnerships, such as the August 2023 alliance between Astellas and Poseida Therapeutics, are further supporting the development of next-generation cancer therapies. Additionally, market expansion is influenced by the growing prevalence of lifestyle-related diseases like diabetes and obesity, rising healthcare expenditures, an aging population, and increasing demand for diagnostics and preventive care.
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Restraints:
The cancer gene therapy market encounters several significant challenges that may limit its broad adoption and advancement. A primary concern is the high cost associated with research, development, and treatment, which can make these therapies unaffordable for many and strain healthcare systems. Moreover, navigating complex regulatory frameworks and prolonged approval timelines often delays the introduction of new therapies. Scientific challenges, such as achieving precise and effective delivery of therapeutic genes while avoiding harm to healthy cells, also remain considerable. Additionally, safety issues—such as potential immune responses and the uncertain long-term impact of genetic modifications—further complicate the clinical implementation of these therapies.
North America holds a leading position in the market and is projected to witness the fastest growth, driven by a supportive regulatory framework and substantial support from organizations such as the National Cancer Institute. The presence of key industry players and active collaboration in cancer gene therapy research further strengthens the region’s market position. A notable initiative is the FDA’s CoGenT Global program, aimed at fostering international collaboration in reviewing gene therapy applications. Some significant market players are Abeona Therapeutics Inc., Asklepios BioPharmaceutical Inc., Altor Bioscience Inc., Bluebird bio Inc., BioCancell Inc., Celgene Inc., Elevate Bio Inc., GlaxoSmithKline Inc.,
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Cancer Gene Therapy Market Growth
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