Cancer Gene Therapy Market Size, Share, Growth, Trends, and Global Industry Analysis: By Therapy Type (Gene Induced Immunotherapy, Oncolytic Virotherapy, Gene Transfer), By End-User (Hospitals and Clinics, Biopharma and Biotechnology Companies, Academic and Research Institutes, Others), and By Region  

Cancer Gene Therapy Market size was valued at US$ 2,688.3 Million in 2023 and is anticipated to grow at a CAGR of 24.3% from 2024-2030. Cancer gene therapy, also known as gene-based cancer therapy or gene transfer therapy, is an innovative approach to treating cancer by modifying or manipulating a patient's own genes to target and combat cancer cells. This therapeutic strategy aims to correct genetic mutations, enhance the body's natural immune response, or introduce therapeutic genes into cancerous cells to inhibit their growth and proliferation. The rising incidence of cancer plays a pivotal role in driving the revenues of the cancer gene therapy market. According to the American Cancer Society, there were an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States in 2022.

As the global burden of various types of cancers continues to increase, there is a growing demand for innovative and effective treatment options beyond traditional methods. Cancer gene therapy, with its potential to target specific genetic mutations and mechanisms driving cancer growth, offers a promising avenue for addressing this growing healthcare challenge. Advancements in genetic research play a pivotal role in propelling the cancer gene therapy market forward. As our understanding of the genetic underpinnings of cancer deepens, researchers are uncovering specific genetic mutations and alterations that drive the initiation and progression of various cancer types.

This intricate knowledge forms the foundation for the development of gene therapies that can precisely target and manipulate cancer-related genes. Advancements in techniques like next-generation sequencing and genome editing technologies enable scientists to identify and modify these genetic abnormalities with greater precision and efficiency. However, less awareness, and high cost involved in treatment, lack of reimbursement policies for advanced gene therapy methods are restraining the growth of the global market for cancer gene therapy. Meanwhile, increases in funding from various government and non-government organizations, ethical acceptance of gene therapy for the treatment of diseases, and the growing popularity of DNA vaccines create significant opportunities for the growth of the market. Key market players are developing novel gene therapy approaches that can treat different types of cancer. 

 Cancer Gene Therapy Market Key Developments:        

• In March 2023, Pfizer announced the acquisition of Seagen for a total enterprise value of approximately $43 billion which will enhance Pfizer’s position as a leading company in oncology.
• In March 2023, Sartorius agreed to acquire Polyplus for 2.4 billion euros to expand its business.