• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Cell, Gene Therapy To Rule Pharma Sector In 2024: Report

OMMCOM NEWS by OMMCOM NEWS
December 28, 2023
in Business, Science & Tech

New Delhi:  Cell and gene therapy (CGT) will have the greatest impact on the pharmaceutical industry in 2024, according to a report on Thursday.

The report by GlobalData, a data and analytics company, is based on a survey of 115 healthcare industry professionals.

It revealed that 18 per cent of industry professionals were convinced that CGT will dominate as the most important trend in pharma next year. This was followed by personalised/precision medicine (16 per cent).

“Cell and gene therapies are gradually becoming more important focus areas within the healthcare industry and their full potential is still unrealised. While this is a relatively new area, with the first autologous dendritic cell therapy Provenge approved in 2010 for prostate cancer, these therapies promise life-changing treatments for a broad spectrum of complex diseases ranging from genetic conditions to cancers,” said Urte Jakimaviciute, Senior Director of Market Research at GlobalData, in a statement.

Although GlobalData anticipates cell and gene therapies to become an established treatment modality in the years to come, higher development and production costs, the risk of clinical trial failures, and intensifying pricing and reimbursement pressures will continue to place further stress on these innovations.

“The industry may try to offset the high development costs by outsourcing. One of the recent examples is Bayer’s announcement of a cooperation with Shanghai Pharmaceuticals China in November 2023 to set up its first Chinese lab for CGT and cancer drug development. With lower R&D development costs than in advanced markets, countries like China are becoming attractive markets for the development of CGT, and therefore may emerge as strong competitors of overseas-made CGT,” Jakimaviciute said.

The report estimates that the global CGT market is projected to reach $80 billion by 2029.

Oncology is expected to continue its lead as the indication and area of major development for cell and gene therapies, accounting for 44 per cent of the CGT market by 2029.

“Even though cell and gene therapies are mainly approved for the use in the oncology space, the versatility of these therapies means that they can be used in both acquired and inherited diseases. Other therapeutic areas that can benefit the most from CGT include neurodegenerative, autoimmune, and cardiovascular diseases,” Jakimaviciute said.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Odisha Govt Provides 14 Customized Vehicles For Protection Of Similipal Tiger Reserve

Next Post

Youth Arrested For Abducting, Raping Minor Girl In Koraput

Related Posts

Adani Group
Business

‘Baseless, Mischievous’: Adani Group Denies Report Of US Probe Into Alleged Iranian LPG Links

June 2, 2025
Business

India, Japan Agree On Deepening Maritime Ties

June 2, 2025
Business

India’s Coal Production Rises 3.4 Per Cent To Cross 86 Million Tonnes In May

June 2, 2025
Washington, DC : Prime Minister Narendra Modi in a bilateral meeting with Tesla CEO Elon Musk at Blair House, in Washington, DC on Thursday, February 13, 2025. (IANS)
Business

Tesla Has To Manufacture In India, PM Modi And Elon Will Work It Out Soon: Errol Musk

June 2, 2025
Science & Tech

Centre Launches BharatGen To Create Ethical, Inclusive, Multilingual AI

June 2, 2025
Business

Way To Go: Elon Musk’s Father Errol Hails India’s Electric Car Scheme

June 2, 2025
Next Post
ARREST

Youth Arrested For Abducting, Raping Minor Girl In Koraput

Two Maoist Dumps Busted With Seizure Of Arms, Ammunition, Other Explosives In Malkangiri

Delhi Court Extends ED Custody Of Vivo India Interim CEO, 2 Others In PMLA Case By A Day

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.