Personalized gene therapy treatments for cancer involve altering genes or genetic materials that aim to treat various types of cancers. These treatments focus on introducing, eliminating, or repairing faulty genes responsible for cancer growth. They provide patient-specific cancer treatment options by targeting genomic variations unique to an individual's cancer. The global personalized gene therapy treatments for cancer market is estimated to be valued at US$ 3.5 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The rising prevalence of various types of cancers across the globe presents a major market opportunity for personalized gene therapy treatments. According to World Health Organization (WHO), cancer is the second leading cause of death globally and was responsible for nearly 10 million deaths in 2020. The four most common cancer types are lung cancer, breast cancer, colorectal cancer, and prostate cancer which together account for 43% of all new cancer cases. With increasing incidents of cancer worldwide, the demand for advanced and targeted treatment approaches like personalized gene therapy is expected to grow markedly over the coming years. The growing focus on precision and personalized medicine also bodes well for personalized gene therapy treatments to emerge as an effective option for cancer patients worldwide.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in this market due to the high capital requirements and lengthy development period needed to bring a new therapy to market. There are also substantial regulatory and safety hurdles that take significant time and money to clear.
Bargaining power of buyers: The bargaining power of buyers is moderate. While some key players have therapies addressing large cancer types, there remains significant unmet need, room for differentiation, and opportunity for new innovative therapies.
Bargaining power of suppliers: The bargaining power of suppliers is moderate to high given the specialized inputs required and limited number of companies able to supply them. This includes items like viral vectors, genome editing technology, and development expertise.
Threat of new substitutes: The threat of new substitutes is high as organizations continue to invest heavily in other novel treatment approaches like cell therapies, oncolytic viruses, and combination therapies using existing drugs. These alternatives could potentially achieve similar clinical outcomes.
Competitive rivalry: Rivalry is high given the size of the potential market and ongoing investments from large biopharma companies and small biotechs seeking to gain ground.
SWOT Analysis
Strengths: PGTs offer a highly personalized treatment approach with the potential for increased efficacy and fewer side effects compared to standard therapies. They also allow targeting of specific cancer-driving mutations.
Weaknesses: PGTs require specialized expertise and infrastructure to develop and deliver. They also have high development costs and the clinical results from early therapies have shown mixed outcomes so far.
Opportunities: As genomic profiling of tumors becomes more routine, the ability to match treatments to molecular profiles will grow. There is also potential for PGTs to be used earlier in treatment pathways or in combination with other therapies.
Threats: Safety and efficacy must be clearly proven at scale, as must methods for affordable and accessible delivery. Manufacturing and supply chain challenges also exist. Regulatory acceptance of personalized approaches needs to continue growing.
Key Takeaways
The global personalized gene therapy treatments for cancer market is expected to witness high growth over the next decade driven by ongoing advancements and increasing investment. Demand is estimated to grow at a CAGR of around 10% during this period.
Regional analysis shows North America currently dominates due to extensive research efforts and supportive regulatory environment. Several PGT candidates are in clinical trials or under development in the U.S. and Canada. Europe is also an important region with a growing clinical trials pipeline and investment from companies like CELLECTIS and Oxford BioMedica. Asia Pacific is expected to see the fastest market expansion led by China, Japan, and South Korea. These countries are seeing rising cancer incidence as well as big increases in biotech funding and clinical trial activity.
Key players operating in the personalized gene therapy treatments for cancer market are Bluebird Bio, CELLECTIS, Crispr Therapeutics, Moderna, Oxford Biomedica, and Allogene Therapeutics. Bluebird and Crispr are furthest along clinically with BCMA and CD19 CAR-T therapies,
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To find a cure for cancer, we need to better understand the illness and find ways to battle it.
Although we may never know exactly what causes cancer, we do know that some variables beyond our control, like genes, play a significant role.
Our understanding of the molecular basis of cancer can allow us to find treatments that target those elements of the disease that we cannot alter.
Gene therapy and nanoparticle treatment imply a cure for cancer patients shortly for a variety of disease kinds.
Over the last few years, personalized gene therapy therapies for cancer have grown in popularity as a viable alternative to current cancer treatments, such as radiation therapy and chemotherapy.
Numerous treatment options exist now, from injections to surgical removal of cancerous growth.
The Global Cancer Gene Therapy Market size valued to USD 558.24 million in 2019, is predicted to reach USD 16.50 billion by 2030, with a CAGR of 32.6% from 2020-2030Gene therapy is a technique to treat or prevent diseases, by using specific genes to replace the mutated gene causing disease or inactivate the mutated gene not functioning properly, or introducing an entirely new gene into the patient’s body to assist in fighting the disease.
There are several experiments and researches going on to replace the use of conventional drugs and surgeries with gene therapy to treat cancer; as it causes least side effects and offers maximum efficacy.Request sample copy of this report at: https://www.nextmsc.com/Cancer-Gene-Therapy-Market/request-sampleMarket Dynamics and Trends:According to the World Health Organization, cancer caused nearly 9.6 million deaths in 2018, and it is the second-leading cause of death world-wide.
At global level, about 1 in 6 deaths are due to cancer.
Owing to this market scenario, the global cancer gene therapy market is growing vehemently.Furthermore, improving regulatory standards regarding the quality of products utilized in gene therapy, growing investments for R activities, growing popularity of DNA vaccines, and ethical acceptance of the gene therapy treatments in treating cancer, are the factors anticipated in propagating growth of the global cancer gene therapy market, throughout the forecast period.Market Segmentations and Scope of the Study:The cancer gene therapy market share has been analysed based on therapy, end-user, and geography.Based on therapy, the cancer gene therapy market is classified into gene induced immunotherapy, gene transfer, and oncolytic virotherapy.
The oncolytic virotherapy segment is further sub-segmented into adenovirus, lentivirus, vaccinia virus, herpes simplex virus, alpha virus, retro virus, adeno associated virus, simian virus, and others.
Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and Row.Ask for Inquiry at: https://www.nextmsc.com/Cancer-Gene-Therapy-Market/inquire-before-buyingGeographical Analysis:North America region dominated the global cancer gene therapy market in the past, and is expected to maintain its dominance throughout the forecast period, accounting for the highest market share.
