At 25.8% CAGR Cell and Gene Therapy Market Size to Reach $28.05 Billion By 2031 | The Insight Partners
Cell Therapy Held Larger Share in Cell and Gene Therapy Market in 2023, full analysis by Product, Application, Source, Manufacturing, and Geography.
NEW YORK, Oct. 30, 2024 /PRNewswire/ -- According to a new market research by The Insight Partners, the Global Cell and Gene Therapy Market is experiencing significant growth owing to the surge in focus on research and development. The report runs an in-depth analysis of market trends, key players, and future opportunities. The overall cell and gene therapy market is categorized on the basis of type, services, scale, service providers, and end users.
Read full market research report, "Cell and Gene Therapy Market Analysis and Forecast by Size, Share, Growth, Trends 2031", published by The Insight Partners.
Overview of Report Findings
- Market Growth: The global cell and gene therapy market is expected to reach US$ 28,050.39 million by 2031 from US$ 4,485.00 million in 2023; it is anticipated to record a CAGR of 25.8% during the forecast period. Cell therapy refers to the process of transferring intact, live cells into a patient to alleviate or sometimes cure a disease. The cells can be taken from the patient or another donor. Cells used in cell therapy are categorized based on their ability. Gene therapy is the application of genetic material for the treatment or prevention of disease.
- Emergence of Advanced Therapies: Advanced Cell and gene therapy are rapidly transforming the biotechnology industry as it is a type of treatment for different types of genetic disorders and chronic diseases. Advanced cells are used as new drug delivery systems to optimize the efficacy and action of targeted agents. Gene therapy helps improve patient outcomes and attracts heavy investments from pharmaceutical firms as well as from institutes conducting the research. Thus, emergence of advanced therapies such as personalized medicine, advancements in research and development, and favorable regulatory environments for new therapeutic possibilities.
- Increase in Prevalence of Cancer: Cell and gene therapy, an advanced treatment modality, provides scope for cutting-edge alternatives to traditional therapies. The demand for new and effective treatments increases with the steady increase in the number of cases across the globe. These cell treatments, when used as site-specific drug delivery devices, will provide better-localized treatment of the tumors instead; therefore, site-specific drug delivery devices pose less risk of side effects and high effectiveness in therapeutics. Also, gene therapy has indicated a revolution in cancer treatment owing to the direct modification of genes related to cancer, thus permitting personalistic approaches that can target specific mutations or pathways present in the cancerous cells. The increased investment in pharmaceutical and research labs for the development of effective therapies for cancer has resulted in the critical need for such treatments. With this growing burden of cancer, the research, development, and adoption of cell and gene therapies have also grown.
- Geographic Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to record the highest CAGR during the forecast period.
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Market Segmentation
- Based on type, the cell and gene therapy market is bifurcated into cell therapy and gene therapy. The cell therapy segment held a larger share of the market in 2023.
- In terms of services, the cell and gene therapy market is segmented into process development, CGMP manufacturing, regulatory services, and bioassay services. The process development segment led the market in 2023.
- By scale, the cell and gene therapy market is divided into pre-commercial/R and D manufacturing and commercial scale manufacturing. In 2023, the pre-commercial/R and D manufacturing segment dominated the market.
- Based on service providers, the cell and gene therapy market is bifurcated into CDMOs and CMOs. The CDMOs segment held a larger share of the market in 2023.
- By end user, the cell and gene therapy market is segmented into contract research organizations, pharmaceutical and biopharmaceutical companies, and academic and research institutes. In 2023, the contract research organizations segment dominated the market.
- The cell and gene therapy market is segmented into five major regions: North America, Europe, APAC, the Middle East & Africa, and South & Central America.
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Competitive Strategy and Development
- Key Players: A few of the major companies operating in the global cell and gene therapy market are Thermo Fisher Scientific Inc, Merck KGaA, Charles River Laboratories, Cell and Gene Therapy Catapult, Lonza, WuXi AppTec, Takara Bio Inc, Bristol Myers Squibb, FUJIFILM Holdings Corporation, and F Hoffmann La Roche Ltd.
- Trending Topics: Cell therapy, gene therapy, and cell and gene therapy manufacturing
Global Headlines on Cell and Gene Therapy Market
- "AstraZeneca Announces Collaboration and Investment Agreement with Cellectis to Accelerate Cell Therapy and Genomic Medicine Ambitions"
- "President of India Launches India's First Home-Grown Gene Therapy for Cancer developed by IIT Bombay, Tata Memorial Centre, and ImmunoACT. "
- "AstraZeneca to Acquire Gracell—Furthering Cell Therapy Ambition Across Oncology and Autoimmune Diseases"
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Conclusion
The advancement in therapies and the increment in the prevalence of cancer are key factors responsible for the growth of the cell and gene therapy market. The market includes a wide variety of therapeutic solutions in the form of cell therapies, gene-modified cell therapies, and traditional gene therapies, which develop significant potential in sectors such as cancer care, generating more than 40% of the total revenue. In addition, growth in research and development for novel treatments is driving the market.
The report from The Insight Partners provides several stakeholders—including component providers, system technology integrators, and system manufacturers—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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