Gene therapy has many benefits for the U.S. economy and it is able to transform the invention of new technologies and devices in the future to cure diseases. However, gene therapy has some risks and it isn’t affordable to the public. The U.S. is spending a large amount of money on the production of gene therapy. The National Bureau of Economics stated that “the expected peak annual spending on these therapies is $25.3 billion, and the expected total spending from January 2020 to December 2034 is $306 billion” (Wong et al. 2021). With the production and cost for gene therapy being expensive and not accessible to many people, it can be discouraging for people in need of treatment.
Gene therapy is making remarkable progress to cure diseases. Gene therapy aims to correct or replace faulty genes responsible for diseases. This can address the root cause of genetic disorders rather than just alleviating symptoms. However, the price is an issue. Natalie Sanchez, a student at Lane Tech, explains the root problem. “...It’s extremely costly, and many people can’t afford to pay off that amount per person.” In the future, gene therapy will continue to expand its applications and treatments globally, to shape people's lives, but there are limitations of accessibility that make it difficult for people to have access to gene therapy. “Analysis by the Institute for Clinical and Economic Review (ICER) suggests the average cost of a gene therapy is between $1 million and $2 million per dose” (Genetic Engineering & Biotechnology News, 2021 ).
There are many debates about whether gene therapy is safe and beneficial to be accessible to the public. Jackeline Barge, a science teacher at Walter Payton College Prep, thinks that “we should start with deadly diseases with no cures, or cures that are high risks for other problems, and monitor patients' experiences.” We can make gene therapy accessible to the public with precautions and for the patient to be well informed of the causes and effects of gene therapy. Professionals can lower the price of gene therapy, which also will cut down their budget cost for production. While gene therapy holds great promise, it also comes with challenges, such as high costs and safety concerns. However, ongoing research and advancements are continually improving its feasibility and safety.
Works Cited
Wong, Heem Chi, et al. “Estimating the Financial Impact of Gene Therapy in the U.S.” National Bureau of Economic Research. April 2021.
https://www.nber.org/papers/w28628#:~:text=The%20expected%20peak%20annual%20spending,only%2015.7%25%20under%20conservative%20assumptions.
“Cell and Gene Therapy Manufacturing Costs Limiting Access” Genetic Engineering and Biotechnology News. 21 February 2021.
Interviewees
Natalie Sanchez
Jackeline Barge
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