There have been significant advancements in the area of gene therapy in terms of research of new drugs. Over the past 20 years, the gene therapy market has witnessed significant advances ranging from the stage of conception, to the current stage of clinical trials for various disease conditions. When compared to other conventional methods such as radiotherapy and chemotherapy, gene therapy enjoys a clear advantage mainly because this therapy does not inhibit the immune system. Also, there has been an increased use of innovative technologies, which has led to an expansion of the scope of gene therapy worldwide. With continuous growth in this market along with major research and developments breakthroughs, the global market opportunity for gene therapy is expected to reach USD 500 million by 2020.
There are only 2 gene therapies which have been approved till now. They are Gendicine and Rexin-G. While Gendicine is marketed in China, Rexin-G is marketed in Philippines. China, with its significant efforts in researching gene therapy has become the first country to approve gene therapy products across the globe in 2003. The growing need for developing an effective treatment for head-and-neck cancer, a condition more prevalent in China than in the west, sustained the interest among Chinese researchers in this area. The market for gene therapy is currently in the experimental stages. There has not been any success as yet in developing completely curative therapeutic drugs.
The growth of this market greatly depends on the regulatory approval of products which are currently in clinical trials. A major part of the gene therapy products for cancer and cardiovascular diseases are currently in Phase II and Phase III of clinical trials. Other factors impacting the gene therapy market are the cost of the treatment and the disease population under study. Additionally, funding and developments in research coupled with acceptance of gene therapy products to use in medicine are also expected to impact the market in the near future.
Although the initial studies of gene therapy were conducted mostly on monogenetic diseases, the focus of the scientists rapidly shifted towards cancer. This increasing popularity of cancer therapeutics as a major interest for gene therapy applications led to it accounting for dominant share in the overall clinical trials being conducted. The major reasons for cancer to become a preferred area of application for gene therapy are the significant unmet medical needs in cancer therapy, coupled with the large size of its market. Additionally, the ethical acceptance of gene therapy as a therapeutic solution also contributed to the shift of focus from monogenetic diseases to cancer.
“Global Gene Therapy Market & Pipeline Insight” Market Highlight: