The global Cancer Gene Therapy market size is estimated at 15.86 billion USD with a CAGR of 30.75% during the forecasted period from 2021-2028.
The global Cancer Gene Therapy market size is estimated at 15.86 billion USD with a CAGR of 30.75% during the forecasted period from 2021-2028. A technique wherein a patientâs gene is modified to treat or cure a disease. This therapy involves addition of genes or replacement of damaged genes to combat disease. The key factors driving the Cancer Gene Therapy is attributed to increasing occurrence of cancer and large geriatric pool. In addition, increasing awareness among people regarding gene therapy along with favorable insurance policies is projected to boost the market size. Moreover, rise in R&D activities and an increase in funding is fostering the Cancer Gene Therapy market. Furthermore, technical innovations in products are anticipated to create lucrative opportunities for the growth of this market. Besides, a changing standard of living coupled with focus on healthcare is anticipated to enhance the market during the forecast period. Likewise, surge in demand and inclination for non-invasive treatment is assessed to encourage the market growth. On the other hand, factors such as high cost associated with this therapy is expected to obstruct the market growth. Cancer takes place as a result of the production of multiple mutations in a single cell that causes it to proliferate out of control. Cancer cells can be differentiated from their usual neighbors on the basis of specific phenotypic changes, such as rapid division rate, attack of new cellular areas, high metabolic rate, and altered shape. The cancer patients who are not cured by surgeries, radiations, and chemotherapies, are treated by gene therapy. Gene therapy is the insertion of a functional gene into the cells of a patient to correct an inborn error of metabolism, in order to alter or repair an acquired genetic abnormality, and to provide a new function to a cell. Owing to high success rate throughout the preclinical and clinical trials, cancer gene therapy is gaining popularity.
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