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Gene Therapy Market Could Reach $13 Billion in 10 Years, Report Says
The market for gene therapy in cancer treatment could exceed $13 billion by 2025 if technologies show success in ongoing trials, according to a report from the health care market research company Kalorama Information.
Gene therapy involves modification of genes rather than the use of a surgical method or a chemical drug product, Kalorama noted in its report, The Market for Personalized Gene Therapy Treatments for Cancer.
“Cancer treatment market is slowly showing favor to biotherapies as a whole, and gene therapy is expected to make an impact in cancer treatment throughout the coming decade,” said Melissa Elder, analyst for Kalorama Information. “We think that a portion of the current technologies under development will prove safe and effective, although many will also be discontinued and some initially promising projects will be terminated.”
Historically, cancer treatments have been very invasive and in some cases detrimental to the body as a whole, but this is not true of numerous new techniques available for these patients. The report says that gene therapy is the most prominent new form of these alternative treatments. It is being studied as a way to change how a cell functions, for example, by stimulating the cells of the immune system to attack cancer cells. Approximately half of all current clinical gene therapy research is on cancer. To date, several hundred projects have some focus on treating cancer with gene therapies.
Kalorama points to three recent events that presage positive trends for gene therapy:
- Glybera, from Dutch biotech firm UniQure and its Italian marketing partner Chiesi, has a price tag of $1.4 million.
- The value of Spark Therapeutics’ stock soared quickly after its IPO debut. Spark Therapeutics’ most advanced product candidate is in a phase III clinical trial and targets a group of rare blinding conditions.
- Pfizer Inc. said last month it is moving into gene therapy.
Kalorama’s report contains a breakout for market expectations for each type of cancer to the year 2025. It also looks at products in company pipelines.
Kalorama Information, a division of MarketResearch.com, supplies independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices, and health care.
Source: Kalorama Information; February 9, 2015.