Market Overview:
Gene therapy involves genetically modifying a patient’s cells to treat or prevent disease. Gene therapy targeted at specific genetic mutations helps cancer patients by lowering treatment side effects. Personalized gene therapy helps battle localized cancer in a minimally invasive way.
The global Personalized Gene Therapy Treatments for Cancer Market is estimated to be valued at US$ 2.20 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the market is the increasing adoption of personalized cancer gene therapy. This trend is driven by the need for more effective cancer treatments with lower side effects. Personalized gene therapy analyzes an individual's genetic profile and mutations to deliver customized treatment. This helps improve clinical outcomes for cancer patients by enhancing treatment efficacy and safety.
Segment Analysis
The global personalized gene therapy treatments for cancer market is segmented by gene therapy type, therapeutic area, and end user. Based on gene therapy type, the market is segmented into genome editing, cell reprogramming transcription, replicating viral vectors, gene addition, and antisense oligonucleotides RNA interference. The genome editing segment currently dominates the market due to advancements in CRISPR/Cas9 technology, which has allowed for more precise genome editing.
Key Takeaways
The global personalized gene therapy treatments for cancer market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing investment in RD for cell and gene therapies.
Regional analysis
North America dominates the personalized gene therapy treatments for cancer market currently due to presence of major market players and advanced healthcare infrastructure in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to improving healthcare facilities and rising cancer prevalence in the region.
Key players
Key players operating in the personalized gene therapy treatments for cancer market are Novartis AG, Kite Pharma (Gilead Sciences), Spark Therapeutics (Roche), and bluebird bio. Novartis AG currently dominates the market due to its strong oncology portfolio and robust pipeline of CAR-T cell therapies for cancer.
