New Study on Cancer Gene Therapy Market size is predicted to surpass $46.5 Bn, Globally, by 2030 at 22.8+% CAGR

 An increase in the prevalence of chronic diseases, such as cancer, genetic disorder, infectious disease, cardiovascular disease, and others are key factors that are anticipated for the growth of the market during the forecast period. 

Allied Market Research published a report, titled, “Cancer Gene Therapy Market by Therapy (Gene Induced Immunotherapy, Oncolytic Virotherapy, Gene Transfer), by End User (Hospitals, Diagnostic centers, Research Institutes): Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global cancer gene therapy industry generated $1.4 billion in 2020, and is expected to reach $11.4 billion by 2030, witnessing a CAGR of 23.3% from 2021 to 2030.

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Covid-19 Scenario

• During the Covid-19 pandemic, there has been significant decline in diagnosis of six major types of cancer such as breast, colorectal, lung, pancreatic, gastric, and oesophageal cancers. This led to reduction in revenue of the global cancer gene therapy market revenue.

 

• The Centers for Disease Control and Prevention (CDC) and other organizations recommended the postponement of cancer screening and other elective surgeries. However, therapies and surgeries were conducted in emergency situations in a secure environment.

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By application, it is divided into oncological disorders, rare diseases, neurological disorders, and other diseases. Region-wise, Gene Therapy Market Analysis is done across North America, Europe, Asia-Pacific, and LAMEA.

By vector type, the non-viral vector segment is the highest Gene Therapy Market Share and accounted for the largest segment in 2020 and is expected and is anticipated to be a lucrative market due to technological advancements in these vectors with positive results during the preclinical and clinical trials for the treatment of various diseases.

By gene type, the antigen segment dominated the market in 2020 and the deficiency segment is the fastest-growing segment during the forecast period. By application, the oncological disorders segment dominated the market in 2020 and is anticipated to be a lucrative market.

KEY FINDINGS OF THE STUDY

• By vector type, the non-viral vector segment was the highest contributor to Gene Therapy Market Size in 2020.
• By gene type, the antigen gene segment type dominated the market in 2020.
• By application, the oncological disorders segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Cancer Gene Therapy Market Report Highlights