Cancer Gene Therapy Market Size, Share and Forecast Report 2024 Cancer Gene Therapy Market Size 2024 | Page 2

The global cancer gene therapy market size 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.
The cancer gene therapy market is segmented on the basis of various
therapies used for treatment and end user. Gene induced immunotherapy,
oncolytic virotherapy, and gene transfer are the different therapies used for
the treatment of cancer. 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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Increasing funding for R&D activities for cancer gene therapy, rising
prevalence of cancer, rapid technological advancements, growing geriatric
population, ethical acceptance of gene therapy for treatment of diseases,
growing popularity of DNA vaccines and favorable government regulations
are some of the key factors characterizing the growth in the cancer gene
therapy market, globally. 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.
Innovation therapies with better success rates, ethical acceptance of gene
therapy for cancer treatment and untapped markets in developing
economies are expected to offer various growth opportunities for the players
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