The global cancer gene therapy market size was US$ 1.74 billion in 2021. The global cancer gene therapy market size is forecast to reach US$ 12.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 24.3% during the forecast period from 2022 to 2030.

Cancer is a term used to describe a group of diseases characterized by abnormal cell proliferation that has the potential to infiltrate or spread to other parts of the body. Cancer has a high proclivity for spreading throughout the body. It is the world's second-leading cause of death. Cancer gene therapy is a strategy for treating cancer that involves inserting therapeutic DNA into the patient's gene. A treatment in which the mutant gene replaces by a healthy gene or the deactivation of a gene whose function is improper are examples of cancer gene therapy procedures. There is a new strategy for fighting cancer cells that involve the delivery of new genes into the body.

Factors Influencing Market Growth

• Among the factors driving the global cancer gene therapy market include rising funding for R&D in the activities of cancer gene therapy and increasing cancer cases.
• The promising government rules for therapy are forecast to offer lucrative growth opportunities for the global cancer gene therapy market during the forecast period.
• A significant factor anticipating the global market growth is the low risk of cancer gene therapy, as a new gene can introduce and integrate into the patient's genome without interfering with the activities of other genes.
• The cost of gene therapy is expensive, and illusions of immunity may slow down the overall market growth.

Impact Analysis of COVID-19

The COVID-19 pandemic negatively impacted the global cancer gene therapy market. During the COVID-19 pandemic, doctors from Dana Farber Cancer Institute analyzed a 46% reduction in the diagnoses of different cancer types, as per the article published in Cancer Connect 2020. In addition, the Centres for Disease Control and Prevention (CDC) and many medical professional organizations suggested that cancer screening and other health protection services, and elective surgeries, be delayed unless the risks outweigh the benefits and hospital infrastructure must secure COVID-19 patients. As a result, the COVID-19 pandemic has affected the market for cancer gene therapy. 

Regional Insights

North America held dominance in the cancer gene therapy market in 2021 and is forecast to remain dominant during the forecast period. As a result of the developing healthcare infrastructure and the rising expense of R&D in the region. In addition, the healthcare industry is witnessing significant modifications and execution of different healthcare reforms. Additionally, the growing prevalence of cancer in the U.S. is forecast to boost the market growth in the region. 

Leading Competitors

The leading prominent companies profiled in the global cancer gene therapy market are:

• Bristol Myers Squibb Co.
• Novartis
• Amgen Incorporated
• GlaxoSmithKline PLC
• Kayropharma Therapeutics
• Gilead Sciences
• Adaptimmune Therapeutics plc (ADAP)
• Genulex Corporation
• SynerGene Therapeutics
• Shanghai Sunway Biotech Co. Limited
• Other Prominent Players

Scope of the Report

The global cancer gene therapy market segmentation focuses on Therapy, End-User, and Region.

Segmentation based on Therapy

• Gene Induced Immunotherapy
• Oncolytic Virotherapy
• Gene Transfer

Segmentation based on End-User

• Hospitals
• Diagnostic centers
• Research Institutes

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America