Gene Therapy in Oncology Market Size, Share, Trends, Analysis and Forecast by Region, Segment, Therapy Type (Oncolytic Virotherapy, Gene Transfer, Gene Induced Immunotherapy) and End-user (Hospitals, Diagnostic Centers, Research Institutes), 2022–2027
LONDON, UK, October 21, 2022 /EINPresswire.com/ — The global Gene Therapy in Oncology market size reached USD 2,045.0 million in 2021, according to a new report by GlobalData Plc. Growing demand for gene therapy over conventional therapies coupled with robust government initiatives and an increase in government support for research in gene therapy have been key factors contributing to the overall market growth.
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Growing demand for gene therapy over conventional therapies and development of novel gene therapies. Researchers across the globe are studying and reporting novel techniques that have the potential to be translated into gene therapies in oncology. In the case of developing countries, there is a huge potential for gene therapy especially due to the rising prevalence of cancer in the region, gene therapy will be highly adopted in developing regions in the next few years.
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Gene Therapy in Oncology Market Report Highlights
• The global Gene Therapy in the Oncology market is projected to witness a CAGR of 23.7% from 2021 to 2027, reaching a value of $ 7,294.1 million. The market is set to gain thrust during the forecast period on account of the increase in funding from multiple sources to develop novel gene therapies and the requirement to address rising cancer prevalence.
• In 2021, the oncolytic virotherapy segment of the Gene Therapy in the Oncology market is estimated at US$ 985.0 million in 2021 and is forecast to reach US$ 3,519.9 million by 2027, growing at a CAGR of 23.7%.
• The gene transfer segment of the Gene Therapy in the Oncology market is estimated at $ 668.9 million in 2021 and is expected to grow up to $ 2,421.7 million by 2027, growing at a CAGR of 24.0%.
• Gene therapy is rising at a remarkable pace, having emerged as a potential segment in the field of biotechnology, and also offering an optimistic outlook, provided the growing investments in R&D as well as the mounting incidence of genetic disorders.
• North America closely followed by Europe captured over 50% of the overall Gene Therapy in Oncology share in 2021. Vendors in these regions are launching various novel gene transfer-based therapies, thereby accelerating market growth.
• The Gene Therapy in Oncology market key players analyzed as part of this report are Amgen, BMS, Gilead (Kite Pharma, Inc.), Novartis, among others.
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GlobalData Plc has segmented Gene Therapy in the Oncology market report by therapy type, end-user, and region:
Global Gene Therapy in Oncology therapy type Outlook (Revenue, USD Million, 2020-2027)
• Oncolytic Virotherapy
• Gene Transfer
• Gene Induced Immunotherapy
Global Gene Therapy in Oncology end-user Outlook (Revenue, USD Million, 2020-2027)
• Hospitals
• Diagnostic Centers
• Research Institutes
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Global Gene Therapy in Oncology Regional Outlook (Revenue, USD Million, 2018-2026)
• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
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