Overview and Scope
Gene therapy involves the transmission of genetic material, typically in the form of a carrier or vector, and the uptake of the gene into the proper body cells. Cell therapy includes introducing cells into the patient with the appropriate function. Some procedures combine cell therapy with gene therapy.
Sizing and Forecast
The cell & gene therapy market size has grown exponentially in recent years. It will grow from $13.81 billion in 2023 to $17.31 billion in 2024 at a compound annual growth rate (CAGR) of 25.3%. The growth in the historic period can be attributed to increase in investments in cell and gene therapies, growth in research and development, advances in cancer drug discovery, rise in public-private partnerships, strong economic growth in emerging markets, increased healthcare expenditure, and rising in pharmaceutical r&d expenditure.
The cell & gene therapy market size is expected to see exponential growth in the next few years. It will grow to $39.74 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The growth in the forecast period can be attributed to increasing prevalence of cancer and chronic diseases, rising geriatric population, rising geriatric population, rising focus on cell and gene therapy, and rise in healthcare expenditure . Major trends in the forecast period include focusing on advanced therapies such as chimeric antigen receptor (car) t-cell therapy, concentrating on undertaking various research initiatives and attain funding, carrying out strategic collaborations to integrate advanced technologies, concentrating on developing gene/genome editing tools especially crispr, partnering or acquiring competitor companies, increasing the number of pipeline studies to develop cell and gene therapies, and investing in manufacturing facilities expansion.
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The cell and gene therapy market covered in this report is segmented –
1) By Product: Cell Therapy, Gene Therapy
2) By Application: Oncology, Neurological Disorders, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Cancer Care Centers, Wound Care Centers, Other End-Users
North America was the largest region in the cell and gene therapy market in 2023. The regions covered in the cell and gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Steady investment and consolidation in cell and gene therapies contributed to the growth of the cell and gene therapy (CGT) market. After recognizing the potential of the CGT market, 16 out of the 20 largest biopharmaceutical companies by revenue, added CGT products to their portfolios. For instance, in December 2021, Pfizer has invested $68.5 million in a new state-of-the-art facility in Durham, North Carolina, to further advance gene therapy capabilities. The facility expands Pfizer’s end-to-end capabilities in gene therapy and builds on the company’s existing footprint in North Carolina, which includes more than 3,600 employees across sites in the state. Steady investment and consolidation in CGT production capacity led to an increase in production capacity and also contributed to the growth of the market.
Key Industry Players
Major companies operating in the cell and gene therapy market report are Biogen Inc., Novartis AG, Gilead Sciences, Ionis Pharmaceuticals Inc., Alnylam Pharmaceuticals Inc., ArrowHead Pharmaceuticals Inc., Spark Therapeutics, Bluebird Bio Inc., RegenexBio, Mesoblast Limited, Biocon, Cipla, Stempeutics Research Pvt. Ltd., EdiGene Inc., Immunochina, Takara Bio, Daiichi Sankyo Company, Ultragenyx Pharmaceutical Inc, Mitsubishi Tanabe Pharma, Oxford Biomedica plc, Santen Pharmaceutical Co., Therapeutic Innovation Australia, Merck, GenScript, Cellular Biomedicine Group, GE Healthcare, inStem, Lonza, Nikon CeLL innovation Co. Ltd., Bristol-Myers Squibb, Amgen, Pfizer, Kite Pharma, Oxford BioTherapeutics, Freeline Therapeutics, PsiOxus Therapeutics, Herantis Pharma Plc, and AstraZeneca.
The cell and gene therapy market report table of contents includes:
1. Executive Summary
2. Cell and Gene Therapy Characteristics
3. Cell and Gene Therapy Trends And Strategies
4. Cell and Gene Therapy – Macro Economic Scenario
5. Global Cell and Gene Therapy Size and Growth
…..
32. Global Cell and Gene Therapy Competitive Benchmarking
33. Global Cell and Gene Therapy Competitive Dashboard
34. Key Mergers And Acquisitions In The Cell and Gene Therapy
35. Cell and Gene Therapy Future Outlook and Potential Analysis
36. Appendix
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