“Increase in incidence of cancer, rise in geriatric population, and surge in funding from governmental and non-governmental organizations for R&D fuel the growth of the global cancer gene therapy market”
As per the report issued by Allied Market Research, the global cancer gene therapy market was pegged at $289 million in 2016 and is expected to hit $2.08 billion by 2023, growing at a CAGR of 32.4% from 2017 to 2023. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Surge in incidence of cancer, increase in geriatric population, and rise in funding from governmental and non-governmental organizations for R&D propel the growth of the global cancer gene therapy market. On the other hand, high cost for gene therapy and untoward effects such as immune response restrain the growth to certain extent. However, increase in the adoption rate due to technological advancements and high growth potential in the untapped markets in the developing countries such as India and China are expected to pave the way for a number of opportunities for the key players in the industry.
The oncolytic virotherapy segment to rule the roost-
The oncolytic virotherapy segment accounted for more than two-fifths of the total market share in 2017 and is expected to dominate throughout the study period. The gene transfer segment, on the other hand, is projected to grow at the fastest CAGR of 32.8% during 2017–2023.
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North America to lead the trail in terms of revenue-
Based on geography, North America held the accounted for the largest share in 2017, holding more than half of the total market. Simultaneously, the Asia-Pacific region is anticipated to register the fastest CAGR of 38.4% during the estimated period.
Frontrunners in the industry-
Key market players analyzed in the market report include Bluebird bio, Inc., Adaptimmune, Merck, GlaxoSmithKline, SynerGene Therapeutics, Celgene, OncoGenex Pharmaceuticals, Shanghai Sunway Biotech, BioCancell, and Shenzhen SiBiono GeneTech. These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to heighten their stand in the industry.
Scope Of The Report
| Report Attribute | Details |
| Market size available for years | 2017-2023 |
| Base year considered | 2018 |
| Forecast period | 2018-2023 |
| Forecast units | Value (USD) |
| Segments covered | By Therapy, By End user, by Geography |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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