(MENAFN- EIN Presswire)
PORTLAND, CA, UNITED STATES, October 7, 2024 /EINPresswire / -- According to the report, the global cancer gene therapy industry generated $1.4 billion in 2020, and is expected to reach $11.4 billion by 2030, witnessing a CAGR of 23.3% from 2021 to 2030.
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Drivers, Restraints, and Opportunities
Surge in funding of R&D activities for cancer gene therapy along with the rising in the prevalence of cancer and supportive government regulations drive the growth of the global cancer gene therapy market. However, high cost involved in gene therapy and unwanted immune responses restrain the market growth. On the other hand, advancements in gene-induced immunotherapy research are projected to present new opportunities in the coming years.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cancer gene therapy market analysis from 2020 to 2030 to identify the prevailing cancer gene therapy market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the cancer gene therapy market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global cancer gene therapy market trends, key players, market segments, application areas, and market growth strategies.
The gene induced immunotherapy segment to maintain its lead position during the forecast period
Based on product, the gene induced immunotherapy segment accounted for the highest market share in 2020, holding around two-fifths of the global cancer gene therapy market, and is expected to maintain its lead position during the forecast period. This is due to rise in the advancement of gene-induced immunotherapy research. However, the oncolytic virotherapy segment is expected to manifest the highest CAGR of 23.7% from 2021 to 2030, owing to rise in awareness about these products and cancer gene therapy.
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The hospitals segment to maintain its leadership status throughout the forecast period
Based on end user, the hospitals segment contributed to the highest market share in 2020, accounting for more than half of the global cancer gene therapy market, and is projected to maintain its leadership status throughout the forecast period. This is attributed to increase in healthcare awareness, rise in the number of hospitals, and surge in geriatric and bariatric populations. However, the diagnostic centers segment is projected to manifest the largest CAGR of 24.5% from 2021 to 2030, owing to rise in funding provided for R&D activities of cancer gene therapy.
North America to maintain its dominance in terms of revenue by 2030
Based on region, North America held the highest market share in terms of revenue in 2020, contributing to around two-fifths of the global cancer gene therapy market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to significant investments in research and advancements in technology and increase in healthcare awareness in the region. However, Asia-Pacific is projected to portray the fastest CAGR of 24.9% during the forecast period, owing to presence of a large population base, government initiatives to improve healthcare infrastructure, and rise in healthcare expenditure.
Leading Market Players:
Bristol Myers Squibb Co.
Novartis
Amgen Inc.
Glaxosmithkline PLC
Kayropharma Therapeutics
Gilead Sciences
Adapta Immue
Genulex Corporation
SynerGene Therapeutics
Shanghai Sunway Biotech
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.