Gene therapy is generating great excitement across the world due to its enormous potential in treating certain rare, inherited, or life-threatening diseases by inserting genes into the target cells of tissues or organs.
New analysis from Frost & Sullivan, U.S. Gene Therapies Market, reveals that revenues expect to reach approximately $125 million in 2006 and grow to a staggering $6541 million in 2011.
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“Gene therapy research has made exceptional progress and benefited from the growing body of information on the specific gene defects that cause inherited disorders,” says Frost & Sullivan Research Analyst Raghunath Tantry. “Research by the Human Genome Project, for instance, reveals the tremendous potential of treating patients based on their individual genetic make up.”
This project has identified various critical genes, such as an apoptosis gene - a gene that guides HIV viral reproduction and those of some colon and breast cancers.
Despite these remarkable strides, the fact remains that most biotech companies are still years away from having an approved and marketed product. The only exception to this is the China-based company Shenzhen SiBiono GeneTech Co. Ltd., whose product Gendicine, made news in October 2003 by becoming the first gene therapy in the world approved for marketing.
The approval signals a breakthrough in the treatment of head and neck squamous cell carcinoma (HNSCC), while ongoing clinical trials expect to uncover more target cancer indications for Gendicine. Following this development, there is a growing urgency among biotech companies to have a gene therapy approved in the United States.
“This is critical not only for treating the disease indication and offering hope to patients, but also to validate the whole gene therapy sector to the market and investors,” says Tantry. “Companies such as Introgen Therapeutics have potentially successful late-stage pipeline products and this will add to the market momentum and increase the credibility of the technology.”
Companies that do manage to secure approval will, however, have to contend with pressing concerns such as medico-ethical issues that are further likely to delay the road to market. Monitoring agencies are even questioning the ethics of testing these therapies on humans, since the science of genetics is still at a nascent stage of development.
Moreover, since the long-term impact of these therapies on humans remains unclear, their use is likely to be restricted to individuals resorting to novel treatments as a last course of action.
In the past, the image of gene therapy has been adversely affected by unfortunate setbacks. Now, as the industry attempts to overcome safety problems, participants must develop skillful communication strategies to increase awareness of gene therapy and position their own brands.
“Successes, even minor safety and efficacy milestones, must be communicated to overcome the unwanted publicity received for toxicity and fatalities,” says Tantry. “The market must be educated on the subtle ways to evaluate a gene therapy product for its benefits to patients that need those therapies.”
U.S. Gene Therapies Market, part of the Pharmaceutical subscription, examines the present performance of pipeline gene therapy products at discovery and clinical development levels and evaluates their future market potential. It tracks and discusses the most critical technological breakthroughs in gene therapy research. The study also examines vectors and delivery systems in the pipeline and analyzes them by type and application. Analyst interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
U.S. Gene Therapies Market
Radhika Menon Theodore
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Keywords in this release: Gene therapy, Human Genome Project, Gendicine, Shenzhen SiBiono GeneTech, head and neck squamous cell carcinoma, HNSCC, Introgen Therapeutics, research, information, market, trends, technology, service, forecast, market share