The global cancer gene therapy market to grow at a CAGR of 20.63% during the period 2017-2021.
The report, Global Cancer Gene Therapy Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is favorable government regulations for gene therapy programs. Gene therapy has been a big hope for the individuals suffering from rare diseases and various forms of cancers. Cancer is one of the biggest life-threatening diseases across the globe and has been a huge point of concern for the healthcare providers. This has led to rising support to R&D activities in cancer gene therapy from various governments.
According to the report, one driver in the market is rising geriatric population. The global geriatric population is continues to grow at a faster pace due to several factors such as rapidly falling fertility rates and growing life expectancy due to better medical facilities. The US Census Bureau reported that the total population aging 65 years and above was estimated at 617 million in 2015 and is expected to rise to 1,566 million by 2050. Asia has the largest and fastest growing aging population due to several factors such as the huge population of the region, government policies such as one child policy of China has reduced the addition of young population, and higher investment in the healthcare sector has led to better medical facilities and longer life expectancy.
Further, the report states that one challenge in the market is high cost of gene therapy treatment. The sky-high cost of gene therapy has made it a point of debate across the globe. One of the major causes for the exorbitant cost of gene therapy is the requirement of intensive clinical trials. The gene therapy needs to be tailored to suit the genetic acceptance for each individual, unlike small and large molecule drug clinical trials where the trials are done in large and random samples. In the clinical trials of gene therapy, the stem cell is extracted from each patient's bone marrow, then the correct version of the gene is mingled with the cell, and the corrected stem cells are introduced to the individual patient.