In the coming years, the cancer gene therapy market size is projected to witness considerable growth, particularly due to the surging prevalence of cancer, increasing investments in research & development (R&D) activities, improved regulatory framework, acceptance of gene therapy for the treatment of the disease, rising popularity of deoxyribo nucleic acid vaccines, and technological advancements. Clinical research laboratories, hospitals, biotechnology companies, and oncology institutes are the major end-users in the cancer gene therapy industry.
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The different therapies utilized for treatment are oncolytic virotherapy, gene transfer, and immunotherapy. Out of these, the gene transfer therapy is expected to lead the global cancer gene therapy market in the near future. There are several ways to apply gene therapy, for example, replacing absent or abnormal genes with healthy ones, changing the way genes are regulated, and introducing foreign genes in cells, which alter their function or/and survival. The gene transfer therapy further has several types, namely electroporation, magnetofection, naked/plasmid vectors, sonoportation, and gene gun.
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Better success rates of innovative therapies, ethical acceptance of gene therapy for the treatment of cancer, and the massive untapped markets in emerging economies are predicted to open up wide opportunities for the players operating in the cancer gene therapy market. For example, the United States Food and Drug Administration (USFDA) approved an innovative treatment for children who are suffering from acute lymphoblastic leukemia, in August 2017, which includes the use of the chimeric antigen receptor T (CAR T) therapy or Kymriah, developed at the Abramson Cancer Center in the University of Pennsylvania. This gene therapy is the first to be approved for cancer by the USFDA.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders