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Cancer Gene Therapy Market Overview
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.
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.
Geographically, North America is predicted to hold the largest cancer gene therapy market share in the coming years. The reason for this is the advanced healthcare infrastructure and increasing expenditure in R&D in the region. In addition to this, the healthcare industry is witnessing significant transformations and implementation of different healthcare reforms. The U.S. will lead the industry in the foreseeable future, primarily because of the rising prevalence of cancer in the country. As per the American Cancer Society (ACS), approximately 15 million cancer cases were diagnosed in the country in 2016.
Asia-Pacific (APAC) is projected to register the fastest growth in demand for cancer gene therapy in the coming years. The growth of the cancer gene therapy market in the region is ascribed to the improving healthcare infrastructure and increasing government initiatives. The healthcare infrastructure in the region is improving due to the rising disposable income of people in emerging economies, which, in turn, is resulting in the growing affordability of innovative treatment options. Moreover, countries including Korea and India have a large patient pool, which is further contributing to the growth of the industry.
Cancer Gene Therapy Market Dynamics
The surging prevalence of cancer is a major driving factor for the cancer gene therapy market growth. According to the World Health Organization, cancer is the second leading cause of death around the world, and was responsible for approximately 9.6 million deaths in 2018. In addition to this, about one-thirds of deaths that occur due to cancer are caused because of five leading dietary and behavioral risks, namely low intake of fruits and vegetables, high body mass index, tobacco use, lack of physical activity, and consumption of alcohol. Attributed to this, various organizations are investing heavily in cancer research.
For example, the ACS approved a $39.8 million funding for 78 training and research grants, in October 2017. These grants were awarded to investigators in 57 institutions across the U.S. Also, the ACS has provided about 159 grants totaling $28.6 million for research on breast cancer, as of August 2017. Furthermore, the American Association for Cancer Research has provided $331.0 million to about 606 recipients in 13 countries across the world for cancer research from 1993–2016. This has resulted in substantial development in the field of cancer research, further resulting in the growth of the global cancer gene therapy market.
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.
Cancer Gene Therapy Market Competitive Landscape
The approvals for cancer gene therapy is a key factor leading to the growth of the cancer gene therapy market. Many companies in the industry are engaged in R&D activities for introducing new therapies, in order to provide better treatment to patients suffering from cancer. For example, in December 2017, Bluebird bio Inc., and Celgene Corporation announced the updated results regarding their ongoing CRB-401 Phase 1 clinical study of bb2121, an investigational anti-B-cell maturation antigen (BCMA) CAR T cell therapy, which is being performed on 21 patients suffering from late-stage relapsed/refractory multiple myeloma.
Some other major players in the cancer gene therapy market are Cell Genesys Inc., GenVec Inc., Adaptimmune Therapeutics plc, Achieve Life Science Inc., Genelux Corporation, Advantagene Inc., and BioCanCell Ltd.
Cancer Gene Therapy Market Segmentation