Gene Therapy Market is Estimated to Reach US$ 5.3 Bn By 2028, Increase in Incidence of Cancer to Drive the Market – BioSpace

Wilmington, Delaware, United States: According to the report, the global gene therapy market was valued at US$ 1.3 Bn in 2020 and is projected to expand at a CAGR of 19.8% from 2017 to 2028. Gene therapy is a way of fixing genetic disorders by introducing a normal and healthy gene in place of the defective one in a cell to prevent or cure different types of genetic and chronic disorders for which no cure has been developed. Gene therapy is considered an important mode of treatment, as it helps eliminate the usage of drugs, surgery, or other procedures, which can have side effects. Several clinical research studies are being conducted to develop effective gene therapy products for the treatment of diseases related to ophthalmology, oncology, and ADA-SCID.

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Gene therapy in ophthalmology includes the injection of fully functional genes into the retinal cells in order to allow restoration of normal gene expression. Different gene therapy approaches are being studied in the fields of oncology, such as pro-drug activating suicide gene therapy, anti-angiogenic gene therapy, oncolytic virotherapy, and gene therapy-based immune modulation. The adenosine deaminase (ADA)deficient severe combined immunodeficiency (SCID) is a very rare form of congenital disorder of the immune system.

Promising Therapeutic Outcomes to Drive Market

Gene therapy has considerable potential to eliminate and prevent several genetic disorders and numerous life-threatening disorders, especially cancer, heart diseases, AIDS, cystic fibrosis, and age-related disorders. Gene therapy provides a complete cure to patients affected with genetic disorders, rather than ease symptoms with other therapeutic treatments. The first gene therapy product Gendicine was developed by Shenzhen, China-based SiBiono GeneTech Co. Ltd. in 2003 and was commercialized in 2004 for the treatment of head and neck cancer. Since 2004, more than 30,000 patients have been treated with Gendicine in China. Gendicine has exhibited notable safety results, and when this gene therapy is combined with other treatment forms, such as chemotherapy and radiotherapy, the overall outcome outperforms other standard therapies alone.

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Patients treated with Novartis AGs gene therapy product Kymriah have exhibited a remission rate of 81% with three months of treatment, and all the patients who exhibit a positive response to treatment were not detected with any minimal residual disease. Hence, the overall promising results of gene therapy fuels the demand for gene therapy products.

New Product Approvals & Commercialization to Propel Market

The years 2016, 2017, and 2018 were key milestones in the history of the gene therapy market in the U.S. and Europe because around four gene therapy products have been approved and commercialized. These products are currently in a nascent stage of commercialization, and have exhibited highly positive therapeutic outcomes. Increase in competition among the leading biopharmaceutical companies to approve and commercialize gene therapy products in different areas of unmet medical needs to gain the first mover advantage is likely to boost the growth of the gene therapy market during the forecast period.

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Increase in Number of Gene Therapy Treatment Centers to Augment Market

New gene therapy product approvals and potential success rates of gene therapy have led to an increased demand for more number of treatment centers in the U.S. and Europe. The companies, after initial success rates of gene therapy, strive to increase the number of treatment centers in order to gain access to a large patient pool requiring gene therapy treatments.

The gene therapy product Kymriah, which was approved for the treatment of patients up to the age of 25 years affected with large B-cell lymphoma, has only 41 treatment centers in the U.S., which limits a large number of patients from receiving gene therapy treatment.

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Promising Product Pipeline and High Investment in R&D

Significant investments in gene-related research & development by various biopharmaceutical companies, governments, and research institutes presents an opportunity to gain the first mover advantage in the gene therapy market. A large number of gene therapy products are under different stages of clinical studies, and the number of gene therapy candidates is projected to rise during the forecast period. High investment in gene therapy research and large number of late stage gene therapy candidates in the oncology domain and other genetic disorders are projected to fuel the demand for gene therapy products during the forecast period.

Competition Landscape

The global cell culture market is consolidated in terms of number of players. Key players in the global market includes Novartis AG, Orchard Therapeutics Limited, Celgene Corporation, Spark Therapeutics, Inc., Gilead Sciences, Inc., Sibiono GeneTech Co. Ltd., and Other prominent players.

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Gene Therapy Market is Estimated to Reach US$ 5.3 Bn By 2028, Increase in Incidence of Cancer to Drive the Market - BioSpace