Cancer Gene Therapy Market Size, Share, Growth Analysis, By Type(Viral gene therapy, non-viral gene therapy) - Industry Forecast 2024-2031

Cancer Gene Therapy Market size was valued at USD 1.97 billion in 2021 and is poised to grow from USD 2.37 billion in 2022 to USD 10.48 billion by 2030, growing at a CAGR of 20.42% in the forecast period (2023-2030).

The cancer gene therapy market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Cancer Gene Therapy. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Novartis AG - Switzerland', 'Gilead Sciences, Inc. - United States', 'Bristol-Myers Squibb - United States', 'Pfizer Inc. - United States', 'Merck & Co., Inc. - United States', 'Celgene Corporation - United States', 'Amgen Inc. - United States', 'Johnson & Johnson - United States', 'AstraZeneca - United Kingdom', 'GlaxoSmithKline plc - United Kingdom', 'bluebird bio, Inc. - United States', 'CRISPR Therapeutics AG - Switzerland', 'Editas Medicine, Inc. - United States', 'Intellia Therapeutics, Inc. - United States', 'uniQure N.V. - Netherlands', 'Sarepta Therapeutics, Inc. - United States', 'GenSight Biologics - France', 'Oncorus, Inc. - United States', 'MeiraGTx Holdings plc - United Kingdom', 'Tocagen Inc. - United States'

One driver of the cancer gene therapy market is the increasing prevalence of cancer worldwide. The rising incidence of various types of cancer has created a significant need for effective treatment options, leading to the development and adoption of gene therapy approaches. Cancer gene therapy offers the potential to target specific genetic alterations or mutations responsible for cancer growth, providing personalized and targeted treatment options. This driver is further supported by advancements in gene editing technologies and increased understanding of cancer genetics.

One key market trend in the cancer gene therapy market is the growing focus on personalized and targeted therapies. Cancer gene therapy involves modifying the genes of cancer cells to inhibit their growth or trigger the immune system to attack them. With advancements in genetic sequencing and molecular diagnostics, researchers can identify specific genetic alterations in individual patients' tumors. This knowledge allows for the development of personalized gene therapies tailored to target those specific genetic mutations or pathways. By customizing treatments based on the unique genetic profile of each patient's cancer, personalized gene therapy holds great potential to improve treatment outcomes and minimize side effects, leading to a more effective and precise approach in combating cancer.

One dominant region in the cancer gene therapy market is North America. The region has a strong presence of key market players, advanced healthcare infrastructure, and supportive regulatory frameworks that promote the development and commercialization of gene therapies. North America accounts for a significant share of the market due to the high prevalence of cancer, a large patient population, and substantial investments in research and development.