GIA announces the release of a comprehensive global report on Gene Therapy markets. The global market for Gene Therapy is forecast to reach US$794 million by 2017. Key factors driving growth in the market include rising demand for new and effective therapies for cancer treatment, in addition to completion of human genome project, rising incidence and prevalence of cancers and other critical diseases, prospective launch of gene therapies in major global markets.
San Jose, California (PRWEB) February 28, 2012
Follow us on LinkedIn – Gene therapy embarks on rapid advancements in the area of novel drug research. In less than a couple of decades, gene therapy has witnessed significant advances. From conceptual stage, gene therapy progressed to the current clinical trials stage in various disease conditions. Gene Therapy holds a distinctive edge when compared to conventional methods such as radiotherapy and chemotherapy, owing to the fact that they do not repress the immune system. Analysis reveals that gene therapy holds a great potential for treating several diseases, especially cancer. However, with failures of gene therapies continuing worldwide and regulatory authorities being stringent and watchful, and no drug approved until now in major markets like US and Europe, the global gene therapy market has significant ground to cover. Scientists, besides being actively involved in expanding the horizons in gene therapy by research and development, are simultaneously involved in patenting new technologies.
The most important advantage of gene therapy is elimination of chemotherapy, which is a dreaded procedure with several side effects. Another advantage of gene therapy is evasion of several side effects including hearing impairment and kidney damage resulting from platinum-induced chemotherapy. Gendicine is the first gene therapy medicine to be approved for treatment of Head and Neck Squamous Cell Carcinoma (HNSCC), and is currently marketed in China. The drug developed by Shenzhen SiBiono Gene Technologies Co (SiBiono) Ltd., is also called as Recombinant Ad-p53 Anti-cancer Injection. The medicine is formulated with an adenoviral vector and p53 tumor suppressor gene and has emerged as a new treatment for HNSCC. Worldwide, there are about five drugs that have completed clinical trials and are awaiting clearance from the concerned regulatory authorities. These drugs include HGF DNA Plasmid from Sosei and Daiichi Sankyo. The drug investigated for treating peripheral vascular disease was filed for approval in Japan way back in 2008, and is yet to receive approval from the Japanese authorities.
Regulation of gene therapy needs to be harmonized on a global scale for promoting international exchange. This could be achieved by extensive circulation of information. With rapid advancements made in the field of gene therapy, the regulation norms tend to change as storehouse of knowledge increases. Somatic gene therapy encompasses a broad spectrum of therapeutic strategies and procedures; hence, the review process is being conducted in a phased manner. Currently under clinical trials, gene therapy is far from being stabilized. Steps need to be taken for regulation of gene therapy with respect to safety features. Development of gene therapy is hampered due to lack of efficiency and specificity of Gene Transfer Systems. High levels of uncertainty envelop technical, clinical, and commercial development of gene therapy.
Major players profiled in the report include AnGes MG Inc., BioSante Pharmaceuticals, GenVec, Oxford BioMedica, Shenzhen SiBiono GeneTech Co., Ltd, Transgene, Urigen Pharmaceuticals Inc., and Vical, Inc.
The research report titled “Gene Therapy: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the gene therapy market, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for global gene therapy market for the years 2008 through 2017.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Gene_Therapy_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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Global Gene Therapy Market to Reach US$794 Million by 2017, According to New Report by Global Industry Analysts, Inc.
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