North America 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 North America Cancer Gene Therapy Market would witness market growth of 19.6% CAGR during the forecast period (2022-2028).
Cancer gene therapy is a strategy for treating cancer that involves inserting therapeutic DNA into the patient's gene. Cancer gene therapy has grown in popularity as a result of its high success rate in preclinical and clinical trials. For cancer gene therapy, a method in which the mutant gene is replaced with a healthy gene or the inactivation of the gene whose function is improper are two examples. Cancer gene therapy is a type of cancer treatment in which a faulty gene (which causes cancer) is transferred or replaced with a healthy gene utilizing genetically modified vectors such as viruses. This method can be utilized for both illness prevention and treatment. Oncolytic virotherapy, gene transfer, and gene-induced immunotherapy are the most regularly utilized strategies for cancer gene therapy treatment.
Some of the prominent trends in the regional market are increased government initiatives, rising economies, and improvements in healthcare infrastructure. In addition, increasing R&D investment, a big pool of patients, and expanding government financing are some of the primary driving reasons for the cancer gene therapy industry in developed countries. The United States has a large part of the market in North America. The increasing number of government funding, developments in gene therapy research and development, and the increased incidence of target diseases would help the regional market.
For example, according to the 2020 Spinal Muscular Atrophy Foundation, spinal muscular atrophy (SMA) affects between 10,000 and 25,000 children and adults in the United States, making it one of the most frequent uncommon diseases. According to the same source, one in 40 to one in 50 people (about 6 million Americans) carries the SMA gene. As a result, the figures show that gene therapy is becoming more popular in the United States.
The US market dominated the North America Cancer Gene Therapy Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,297.3 million by 2028. The Canada market is experiencing a CAGR of 22.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 21.2% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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