Cancer Gene Therapy Market Growth Sturdy at 23.3% CAGR to Outstrip $11.4 Bn by 2030

Cancer is a group of diseases involving abnormal cell growth with the potential to invade or spread to other parts of the body. Cancer often has the ability to spread throughout your body. It is the second-leading cause of death in the world. Cancer gene therapy is a technique used for the treatment of cancer where therapeutic DNA is being introduced into the gene of the patient with cancer. Owing to the high success rate during the preclinical and clinical trials, cancer gene therapy has gained popularity. There are many techniques used for cancer gene therapy, for example, a procedure where the mutated gene is being replaced with a healthy gene or the inactivation of a gene whose function is abnormal. Recently, a new technique has been developed, where new genes are introduced into the body to help fight against cancer cells.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐂𝐚𝐧𝐜𝐞𝐫 𝐆𝐞𝐧𝐞 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 – 𝐂𝐎𝐕𝐈𝐃-19 𝐈𝐦𝐩𝐚𝐜𝐭 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐰𝐢𝐭𝐡 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/2605

The COVID -19 pandemic is having a negative impact on the cancer gene therapy market. According to the article published in Cancer Connect 2020, Dana Farber Cancer Institute physicians found that during the COVID -19 pandemic, diagnoses of the six most common cancers-breast, colorectal, lung, pancreatic, stomach, and esophageal-declined by 46%. In addition, the Centres for Disease Control and Prevention (CDC) and many medical professional organisations have recommended postponing cancer screenings and other health care services, as well as elective surgery unless the risks outweigh the benefits, and securing hospital infrastructure to treat COVID -19 patients. Thus, the COVID -19 pandemic has impacted the cancer gene therapy market. However, the situation is expected to gradually improve.

The key factors fueling the growth of the gene therapy market are increasing funding for research and development in cancer gene therapy and rising prevalence of cancer. Moreover, favorable government regulations for therapy are further going to boost various opportunities that are expected to provide cancer gene therapy market opportunity during the forecast period. Moreover, the risk of cancer gene therapy is less as a new gene is introduced to integrate into the genome of the patient and continue to function without the operations of other genes are the major factors driving the growth of the market in the coming years. These factors are helping to increase the share of cancer gene therapy worldwide. However, the high cost associated with gene therapy and adverse immune reactions are likely to restrain the growth of cancer gene therapy market during the forecast period.

By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest  Cancer Gene Therapy Market share, with $564.52 million in 2020, and is estimated to reach $4,307.47 million by 2030, registering a CAGR of 22.5% during the forecast period. Owing to significant investments in research and advancements in technology, the Asia-Pacific market is estimated to reach $2,913.67million at a significant CAGR of 24.9%. The presence of a large population base, government initiatives to improve healthcare infrastructure, and an increase in healthcare expenditure are the key driving factors that boost the viral vectors and plasmid DNA market in the region.

𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐄𝐱𝐩𝐞𝐫𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/2605

Cancer Gene Therapy Market Report Highlights