Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Cancer Gene Therapy Market size is expected to reach $5 billion by 2028, rising at a market growth of 21.2% CAGR during the forecast period.
The Gene Induced Immunotherapy segment acquired maximum revenue share in the Global Cancer Gene Therapy Market by Therapy in 2021, thereby, achieving a market value of $2,459.2 million by 2028. The growth of the market can be credited to advancements in gene-induced immunotherapy research, increased financing for cancer gene therapy R&D activities, and increased awareness of cancer gene therapy as important reasons for expecting industry expansion in the approaching years. Immunotherapy stimulates the immune system to kill cancer cells by using genetically engineered cells and viral particles. Treatment with either cytokine gene delivery or tumor antigen gene delivery is referred to as immunotherapy. When opposed to chemotherapeutics, immunotherapeutics have fewer side effects
The Diagnostic centers segment is showcasing a CAGR of 21.7% during (2022 - 2028). The primary driver of the segment is greater awareness of diseases like cancer, neurological diseases, and neurodegenerative disorders. People are becoming more conscious of chronic illnesses, which is driving up demand for CT and MRI treatments, which are utilized to diagnose, plan therapy, and prevent chronic illnesses. These diagnostic clinics offer a wide range of diagnostic and preventative medical services. These diagnostic clinics are helpful because most hospitals lack the requisite space for specialized imaging equipment rooms. Furthermore, these facilities give services to several hospitals. Unlike hospitals, such facilities replace their imaging equipment more frequently.
North America market is the fastest growing region in the Global Cancer Gene Therapy Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,798.1 million by 2028. The Asia Pacific market is estimated to witness a CAGR of 23.2% during (2022 - 2028). Additionally, The Europe market would display a CAGR of 20.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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