Market Overview:
Personalized gene therapy treatment involves the use of engineered viruses to deliver genetic material into a patient’s cells and tissues to fight against cancer. It has the potential to provide precise, individualized treatment against cancer. Gene therapies hold the promise to treat cancer at a genetic level to generate long-lasting responses.
The global Personalized Gene Therapy Treatments for Cancer Market is estimated to be valued at US$ 2.20 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the personalized gene therapy treatments for cancer market is the increasing adoption of gene therapies to target specific genetic mutations driving cancer growth. Many clinical trials are evaluating different gene therapy approaches such as gene correction, gene knockdown, gene loading, and others to modify disease-causing genes or introduce new genes to treat cancer. Another major trend is the development of personalized gene therapies involving gene editing technologies like CRISPR which can precisely target and correct cancer-causing genetic mutations at a DNA level.
SWOT Analysis
Strength: Personalized gene therapy treatments target cancer at the molecular level, thereby offering precision treatment with minimum side effects. It holds potential to cure cancer completely.
Weakness: High costs associated with the research and development as well as production of personalized gene therapy treatments limits their widespread adoption. Regulatory hurdles also extend the approval timelines.
Opportunity: Increasing prevalence of different types of cancers and growing demand for effective targeted therapies present an enormous market opportunity.
Threats: Safety issues if the modified genes affect healthy cells in the body. Emergence of alternative therapies can negatively impact the market attractiveness of personalized gene therapy treatments.
Key Takeaways
The global Personalized Gene Therapy Treatments for Cancer Market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing instances of cancer and growing demand for targeted therapies.
Regional analysis: North America accounts for the largest share of the global personalized gene therapy treatments market due to the rising incidence of cancer and presence of advanced healthcare facilities in the region. Asia Pacific is expected to exhibit fastest growth due to growing healthcare spending, increasing awareness about advanced treatments and rising cancer burden in developing nations.
Key players operating in the Personalized Gene Therapy Treatments for Cancer Market are Novartis AG, Kite Pharma (Gilead Sciences), Spark Therapeutics (Roche), and bluebird bio. These players are collaborating with research institutes to explore newer techniques and speed up clinical trials. Partnerships with biotech companies and acquisitions have also accelerated product development.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
