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Cancer Gene Therapy Market

Cancer Gene Therapy Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Pharmaceuticals & Biotechnology | Author Name: Sayali

Cancer Gene Therapy Market: Overview

The market size for cancer gene therapy was USD 1.6 billion in 2021, and it is estimated to grow at a CAGR of 22.7 percent during the forecast period. Increasing R&D investments, rising demand for DNA vaccines, improving regulatory standards regarding the quality of products used in gene therapy, and ethical acceptance of gene therapy treatments for cancer are also expected to drive growth in the global cancer gene therapy market over the forecast period. Additionally, the supportive government rules for treatment will further enhance the number of chances predicted to present opportunities for the Cancer Gene Therapy Market during the projection period. The important variables predicting the market's growth in the following years include the lower risk of cancer gene therapy and the fact that newly inserted genes will integrate into the patient's genome and continue to function without interfering with the activities of other genes.

According to the Globocan 2020 fact sheet, there were about 9,958,133 cancer-related deaths worldwide, and an estimated 19,292,789 new cancer cases were identified. Furthermore, according to reports, there will be 27.5 million new cases of cancer and 16.3 million cancer-related deaths worldwide by 2040. Advanced cancer medicines will be required to effectively treat patients as cancer cases are predicted to rise. The market for cancer therapies is expected to grow rapidly over the future years due to the aforementioned considerations.

There is a sizable pipeline of cancer medicines, and numerous businesses are working to provide effective products. The market for cancer gene therapies is now seeing the emergence of small biopharma firms. For instance, Autolus Therapeutics is creating gene therapies based on AAV. The business uses this strategy to target individuals with chronic, systemic disorders. Additionally, increasing the regulatory environment is anticipated to increase product launches. In March 2021, the FDA approved using Abecma by Bristol Myers Squibb and Bluebird Bio. (idecabtagene vicleucel). It is based on the cell-based gene therapy method used to treat multiple myeloma patients.

Cancer Gene Therapy Market: COVID-19 Impact

The COVID-19 pandemic has negatively influenced the market for cancer gene therapy. According to an article in Cancer Connect 2020, researchers from the Dana Farber Cancer Institute found that the six most frequent cancer types—breast, colorectal, lung, pancreatic, gastric, and oesophageal cancers—had a 46% decline in diagnoses during the COVID-19 pandemic. Additionally, it was suggested that elective procedures, cancer screenings, and other preventative healthcare services be postponed unless the risks outweighed the benefits and the hospital infrastructure was prepared for the care of COVID-19 patients by the Centers for Disease Control and Prevention (CDC) and many other medical professional organizations. Therefore, the market for cancer gene therapy has been influenced by the COVID-19 pandemic. However, it is anticipated that things will get better with time.

Cancer Gene Therapy Market: Drivers

Rising Prevalence of Cancer to Drive Market’s Growth

The growing prevalence of cancer disorders, the increased emphasis on research to create a successful cancer treatment, and rising funding in cancer research are the key drivers of the market’s growth. In 2022, the American Cancer Society's "Cancer Facts & Figures 2022" estimates that there will be around 1,918,030 fresh cancer cases and 609,360 deaths due to cancer in the United States. Various gene therapy techniques are now used to treat cancer. These include anti-angiogenic gene therapy, gene therapy-based immune modulation, pro-drug activating suicide gene therapy, oncolytic virotherapy, correction/compensation of gene deficiencies, antisense, genetic manipulation of apoptotic and tumor invasion pathways, and RNAi tactics. These treatments have been aimed at specific cancer types, including head and neck, skin, ovarian, lung, breast, pancreas, liver, colorectal, prostate, bladder, and renal cancer.         

Market for Cancer Gene Therapy Increased due to Better Regulatory Conditions

An enhanced regulatory environment will hasten the growth of the cancer gene therapy industry during the forecast period. Regulations are imposed on producers to ensure the release of products (vectors) free from faults due to their direct link to consumer health. Since any defects in gene therapy products could have catastrophic effects on patients, laws have been altered to prohibit product recalls during post-marketing surveillance. As a result, the availability of high-quality cancer gene therapy will increase, which will help the market for cancer gene therapy grow in the years to come.

Cancer Gene Therapy Market: Restraints

High Cost of Cancer Gene Therapy to Restrict Market’s Growth

The high cost of cancer gene therapy could make it unaffordable, limiting the market's expansion. Low purchasing power in emerging economies would prevent people from investing in pricey cancer gene therapy goods. However, this aspect would have a short-term effect on the growth of the cancer gene therapy sector and would disappear with an increase in wealth. Gene therapies are currently among the most expensive medical procedures available, suggesting that most are patient-specific. In the US, Kymriah used to treat advanced lymphoma and pediatric leukemia, costs between US$375,000 and US$475,000; meanwhile, the same treatment costs US$306,000 in Japan and US$413,000 in Australia.

Cancer Gene Therapy Market: Segment Overview

With Growing Research Activity, Gene-Induced immunotherapy to Dominate Market

The gene-induced immunotherapy segment dominates the market due to increased funding for research and development related to cancer gene therapy, advancements in gene-induced immunotherapy research, and increased public awareness of cancer gene therapy as major market drivers in the years to come. It is anticipated that more programs to raise awareness of the need for cancer immunotherapy would aid the sector's growth during the projection period. The segment future is likely to be shaped by introducing emerging therapeutic classes such as monoclonal antibodies and histone deacetylase (HDAC) inhibitors, which target multiple myeloma-related receptors. The segment is anticipated to develop due to ongoing research on medications similar to these that aim to reduce side effects.

Breast Cancer to Dominate Market due to Growing Public Awareness

The rise in government measures to boost cancer screening and diagnosis rates and the increased disease prevalence are responsible for the growth. The sector of breast cancer diagnostics is anticipated to be driven by the rising incidence of breast cancer. Over the projected period, increasing demand for technologically enhanced goods that can facilitate higher accuracy, speed, and cost-effectiveness will likely be the key growth factor. New breast cancer treatment product launches by major companies are one of the crucial aspects anticipated to considerably drive the segment growth in the ensuing years. The segment is expected to benefit from these product introductions because they are technologically advanced and frequently lead to better patient treatment outcomes.

Cancer Gene Therapy Market: Regional Landscape

North America to Acquire Major Market Share due to Growing Prevalence of Cancer

North America dominates the market for cancer gene therapy. The market in the region is predicted to grow due to the region's high concentration of important players, rising FDA approvals, strategic collaborations, and substantial investment in R&D activities. For instance, Velosbio Inc., a privately held clinical-stage biopharmaceutical firm dedicated to developing first-in-class cancer medicines targeting receptor tyrosine kinase-like orphan receptor 1, entered into a formal agreement with Merck & Co. Inc. in November 2020. (ROR1). Breast cancer was anticipated by the Centers for Disease Control and Prevention (CDC) to be one of the leading cancerous diseases in women worldwide and to remain the second-leading cause of cancer mortality in women, which has sparked a boom in the field of cancer gene therapy. Breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) cancers were the most prevalent in the US.  

In the projection period, Asia-Pacific is anticipated to develop at the fastest rate due to rising government measures to promote cancer gene therapy and rising consumer awareness of this treatment. Additionally, expanding healthcare infrastructure and bettering reimbursement policies are anticipated to promote market growth. It is mandatory to improve the laws and regulations to tighten oversight, boost legal responsibility, and promote the healthy growth of biotechnology research, applications, and associated enterprises. Over the projected year, such changes are anticipated to be positive for the market.

Global Cancer Gene Therapy Market: Competitive Landscape

In July 2022, ImmunoACT, an IIT-Bombay spin-off sponsored by Hyderabad-based Laurus Labs, is testing a revolutionary gene-therapy treatment for cancer that they believe would cure the disease costing one-tenth of the global price. The therapy has finished its phase one or safety testing and is ready to proceed to phase two trials. ImmunoACT anticipates it will be ready for market introduction in 18 months, subject to regulatory approvals. In June 2021, Eisai Co., Ltd. and Bristol-Myers Squibb Company (NYSE: BMY) announced an exclusive global strategic partnership agreement for the co-development and co-commercialization of MORAb-202, an antibody-drug combination (ADC). MORAb-202 is currently being studied in two trials in FR-positive solid tumors (including endometrial, ovarian, lung, and breast cancers): a Phase 1 clinical study in Japan and a Phase 1/2 clinical investigation in the United States. The companies intend to advance this asset into the registrational stage of development as early as next year.

Few of the players in the Cancer Gene Therapy Market include Merck KGaA, Novartis AG, AstraZeneca Plc., BIOCAD, Crinetics Pharmaceuticals, Inc., EffRx Pharmaceuticals S.A., Euroscreen S.A., Vicore Pharma AB, Amgen, Bristol-Myers Squibb, Cell Genesys Inc., Adaptimmune Therapeutics plc., Achieve Life Science Inc., BioCanCell Ltd., Genelux Corporation, Advantagene Inc., GenVec Inc., GlaxoSmithKline PLC, and Amgen Inc.

Global Cancer Gene Therapy Market is Differentiated as Below:

By Therapy

  • Gene Induced Immunotherapy
  • Oncolytic Virotherapy
  • Gene Transfer
  • Others

By Indication

  • Breast Cancer
  • Ovarian Cancer
  • Liver Cancer
  • Pancreatic Cancer
  • Lung Cancer
  • Prostate Cancer

By Service Provider

  • Hospitals
  • Clinical Research Laboratory
  • Oncology institutes

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Cancer Gene Therapy Market

  • Cancer Gene Therapy Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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