Asia Pacific Cancer Gene Therapy Market Size, Share & Industry Trends Analysis Report By Therapy (Gene Induced Immunotherapy, Oncolytic Virotherapy, and Gene Transfer), By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Cancer Gene Therapy Market would witness market growth of 23.2% CAGR during the forecast period (2022-2028).
An increase in financing for R&D in cancer gene therapy activities, as well as an increase in the occurrence of cancer, are two significant reasons driving the market's expansion. Furthermore, favorable government laws for therapy are expected to promote numerous prospects that would boost Cancer Gene Therapy Market over the forecast period. Furthermore, the risk of cancer gene therapy is reduced since a new gene introduced will integrate into the patient's genome and continue to operate without interfering with the functions of existing genes. However, the high cost of gene therapy, as well as undesired immune reactions, are likely to restrain the growth of the cancer gene therapy market.
The rise in cancer prevalence, ethical acceptability of gene therapy for cancer treatment, and progress in this discipline are some of the growth catalysts for the industry. In addition, the advantages of cancer gene therapy over conventional cancer medicines, as well as an increase in government backing and biotechnology financing that stimulates cancer gene therapy R&D, all contribute to the growth of the market.
Some of the growth catalysts for the regional market are an increase in the prevalence rate of cancer, an increase in a government initiative to develop healthcare infrastructure, and an increase in the number of individuals prone to various chronic diseases. In addition, approval and introduction of cancer gene therapy products might have a favorable impact on market expansion in developed countries like Japan, Australia, and New Zealand.
The growing healthcare infrastructure and increased government initiatives would help the regional market players to increase their offerings and procure maximum revenue share. The region's healthcare infrastructure is improving as people's disposable incomes rise in emerging nations, leading to an increase in the affordability of novel treatment choices. Furthermore, countries such as Korea and India have a huge patient pool. Hence, these aspects are estimated to open new growth avenues for the players operating in the regional Cancer Gene Therapy Market during the forecasting period.
The China market dominated the Asia Pacific Cancer Gene Therapy Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $428.1 million by 2028. The Japan market is estimated to grow at a CAGR of 22.5% during (2022 - 2028). Additionally, The India market would witness a CAGR of 24% during (2022 - 2028).
Based on Therapy, the market is segmented into Gene Induced Immunotherapy, Oncolytic Virotherapy, and Gene Transfer. Based on End User, the market is segmented into Hospitals, Diagnostic centers and Research Institutes. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, GlaxoSmithKline PLC (GSK), Amgen, Inc., Bristol Myers, Squibb Company, Karyopharm Therapeutics, Inc., Gilead Sciences, Inc., Adaptimmune Limited, Genelux Corporation, and Sarepta Therapeutics, Inc
Scope of the Study
Market Segments Covered in the Report:
- Gene Induced Immunotherapy
- Oncolytic Virotherapy, and
- Gene Transfer
By End User
- Diagnostic centers
- Research Institutes
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Novartis AG
- GlaxoSmithKline PLC (GSK)
- Amgen, Inc.
- Bristol Myers Squibb Company
- Karyopharm Therapeutics, Inc.
- Gilead Sciences, Inc.
- Adaptimmune Limited
- Genelux Corporation
- Sarepta Therapeutics, Inc.
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