Cancer Gene Therapy Market by Therapy, End User and Geography: Global Research Report, 2013-2023

The global cancer gene therapy market is expected to attain lucrative growth in the forecast period mainly due to rise in funding for R&D activities for cancer gene therapy, increasing prevalence of cancer, and rapid technological advancements being witnessed in the market. Gene therapy is used for the treatment of cancer, where a functional gene is inserted into the cells of a patient to correct a genetic abnormality and provide new function to the cells.

Gene transfer therapies holds the largest share in the global market and the category is also expected to witness fastest growth in demand during the forecast period. The key end users in the cancer gene therapy market include hospitals, oncology institutes, biotechnological companies and clinical research laboratories.

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According to the American Cancer Society (ACS), around 1,688,780 new cancer cases are expected to be diagnosed, in the U.S., in 2017. Almost, 600,920 Americans are expected to die of cancer in 2017, indicating that around 1,650 cancer patients are dying per day, due to the disease. In 2013, the World Health Organization (WHO) launched the Global Action Plan for the Prevention and Control of Noncommunicable Diseases 2013-2020, that aimed at reducing the rate of premature mortality from cancer, cardiovascular diseases, diabetes, and chronic respiratory diseases by 25%, by 2025.

North America is expected to lead the global cancer gene therapy market throughout the forecast period (2018–2023) followed by the Europe. This is mainly due to strong healthcare infrastructure and high expenditure in R&D in North America. 

Additionally, emerging countries, such as India, and Korea, are characterized by a huge patient pool, which can be attributed to the increasing burden of non-communicable diseases and rising geriatric population in these countries. According to the WHO, chronic diseases are estimated to increase by 57% by 2020, globally.

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The players in the global market have been receiving approvals for the cancer gene therapy treatments to provide better treatment to cancer patients, thus increasing their market share. For instance, in December 2017, Celgene Corporation and bluebird bio, Inc. announced the updated results from the ongoing CRB-401 Phase 1 clinical study of bb2121, an investigational anti-B-cell maturation antigen (BCMA) CAR T cell therapy, in 21 patients suffering with late-stage relapsed/refractory multiple myeloma.