Oncology Gene Therapy Market Poised to Cross US$ 350 Million Mark by 2020

According to a new research report by RNCOS entitled,?Global Gene Therapy Market Forecast to 2020?, new innovations in the field of healthcare industry are driven by groundbreaking gene therapy trials against cancer. Oncology has witnessed increasing research and developments during the past few years. This therapeutic area is majorly driven by the failure of conventional therapies to treat life-threatening diseases, which is opening doors for biotech companies to find alternative ways of treating different forms of cancer.

Several cancer gene therapy approaches are being tested in preclinical and clinical trials. These include: pro-drug activating suicide gene therapy, anti-angiogenic gene therapy, oncolytic virotherapy, gene therapy based immune modulation, correction of gene defects, genetic manipulation of apoptotic and tumor invasion pathways, antisense and RNAi strategies.

The global gene therapy market for oncology application is poised to reach US$ 392.8 Million by 2020 from US$ 200.6 Million in 2015. Presently, cancer accounts for almost half of the projects which are currently underway. In 2020, oncology application is expected to maintain its leadership position, and is likely to account for 61% of the total gene therapy market.

This high share can be attributed to increasing prevalence and incidences of cancer, which will generate a need for development of gene therapy for the disease. Till date, there is no effective treatment for this deadly disease. This has lead to rise in number of researches focuses on finding various new and advanced approaches for the treatment of this disease.

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