The North America cancer gene therapy market is expected to dominate over the next five years, with China emerging as a lucrative pocket accounting for 32.3% of East Asia's share during that time period.
NEWARK, Del., June 27, 2022 /PRNewswire/ -- As per Future Market Insights' latest revised industry analysis, the global cancer gene therapy market is projected to expand at a 10.1% CAGR over the forecast period, with the market size reaching US$ 5.3 Bn in 2032.
Gene therapy is a field of medicine that aims to cure or greatly improve the treatment of diseases that have few or no treatment options. Advanced-stage cancer and hematological illnesses make up a large share of gene therapy candidates. In addition to this, gene therapy is frequently used to treat rare or inherited diseases.
While gene therapy research is still in its early stages, firms are increasingly investing in the technology. A handful of products have recently received approval outside of Canada or are in the final stages of clinical trials.
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Gene therapy is currently extremely expensive. Multi-stakeholder discussions about pricing and reimbursement management for these goods are required. To provide accessibility and quality of care, specialized manufacturing facilities, care centers, and doctors skilled to undertake specific procedures for such therapies are required.
The growth in the cancer gene therapy market is reliant on increasing awareness about health, the growing incidence of cancer, and the latest advancements in cancer gene therapy.
"Rising awareness regarding cancer gene therapy across emerging economies, along with favorable healthcare reimbursement plans in various countries will create opportunities for growth in the market over the forecast period," says an FMI analyst.
Key Takeaways:
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Competition Landscape
Acquisitions, partnerships, geographical recognition, and product launches are the key strategies adopted by leading players to increase the consumer base. For instance:
Leading Companies Profiled in Cancer Gene Therapy Market are
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Key Market Segments Covered in Cancer Gene Therapy Industry Research
By Therapy:
By Indication:
By Service Provider:
By Region:
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Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global cancer gene therapy market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the cancer gene therapy market segment based on therapy ? (gene induced immunotherapy, oncolytic virotherapy, gene transfer, and others), by indication (breast cancer, ovarian cancer, liver cancer, pancreatic cancer, lung cancer, and prostate cancer), by service provider (hospitals, clinical research laboratory, and oncology institutes), across seven major regions.
Explore wide-ranging Coverage of FMI's Healthcare Market Insights Landscape
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