World Gene Therapy Market to Reach $484 Million by 2015, According to New Report by Global Industry Anal...( Gene therapy...)

Gene therapy promises to be one of the most important frontiers in medicine. Although no significant achievements for curing disease have been achieved, the future seems to hold significant potential in terms of developing such approaches. By the year 2015, global market for gene therapy is projected to reach $484 million.

San Jose, CA (PRWEB) November 4, 2008 -- Advancements in gene therapy have provided useful data, which has helped in understanding the pathogenesis of diseases. The discipline heralds a significant potential for the biotechnology industry over the next 20 years, as the approach moves from research labs to clinical trials. Proteins and monoclonal antibodies have revolutionized the treatment of a wide variety of diseases, and gene-based therapies that deliver the DNA sequences encoding proteins and antibodies signify the next big step in the evolution of biopharmaceuticals.

Gene therapy market is still in the experimental stages with success yet to be achieved in developing completely curative therapeutic drugs, as stated in a recent report published by Global Industry Analysts, Inc. Till date, only one gene therapy drug Gendicine, developed by Shenzhen SiBiono Gene Technologies Co., has been approved, which is marketed in China. Market predictions for gene therapy highly depend on the regulatory approval of products currently in clinical trials. Most gene therapy products for cancer and cardiovascular diseases are in Phase III/ Phase II of clinical trials. Cost of the treatment and disease population are the other factors that affect the gene therapy market. Funding and research developments and acceptance of gene therapy products to use in medicine are also expected to impact the market in the near future.

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