Cell and Gene Therapy Market Projected to Grow at a CAGR of 22.8% and Reach US$ 62.5 Billion by 2032

COVINA, Calif., May 3, 2023 /PRNewswire/ -- According to Prophecy Market Insights "Cell and Gene Therapy Market accounted for US$ 13.0 billion in 2022 and is estimated to be US$ 62.5 billion by 2032 and is anticipated to register a CAGR of 22.8%."

What is the Overview of Cell and Gene Therapy Market?

Cell and gene therapy are fields of biomedical research and treatment, both this therapies aim to treat, prevent, or potentially cure disease, and both methods have the potential to address the root cause of genetic and acquired diseases. 

Growing prevalence of diseases such as cancer has given positive impact on target market growth. Wide acceptance and adoption of Car t-cell therapy has further, boost the demand for target market growth. Technological advancement such as new CRISPR-based tool to treat various diseases caused by defective genes is expected to fruitful the demand for Cell and Gene Therapy market growth.

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Who are the Key Vendors in Cell and Gene Therapy Market?

• Gilead Sciences
• Spark Therapeutics
• Novartis AG
• Organogenesis
• Amgen
• Osiris Therapeutics
• Dendreon
• Vericel
• Anterogen
• Tego Sciences

What is Prophecy's Analyst View on Cell and Gene Therapy Market?

Growing research and development activities has become major contribution in target market growth. Favorable regulatory support and growing demand for cell and gene therapy products has further, driven the target market growth. Ongoing clinical trials and innovation in technology is expected to foster the demand for Cell and Gene Therapy market growth over the forecast period.

Scope of the Report:

What are the Possibilities for Growth Cell and Gene Therapy Market?

• Increasing number of clinical trials: The number of clinical trials focused on cell and gene therapy has been increasing steadily in recent years. As more clinical data becomes available, it could lead to greater acceptance of these therapies by regulators and healthcare providers, leading to increased adoption.
• Advances in gene editing technologies: The development of new gene editing tools, such as CRISPR-Cas9, has made it easier to modify genes with precision. This could lead to the development of more effective cell and gene therapies.
• Growing investment in the field: The cell and gene therapy market has attracted significant investment from both private and public sources. This could lead to more funding for research and development, which could accelerate the pace of innovation.

What is COVID-19's Impact on Cell and Gene Therapy Market?

• Delayed clinical trials: Many clinical trials for cell and gene therapies have been delayed due to the pandemic, as hospitals and clinics have had to redirect resources to managing COVID-19 patients. This could slow down the pace of innovation in the field.
• Increased demand for gene therapies: The pandemic has highlighted the urgent need for new treatments for infectious diseases. Gene therapies that can boost the immune system or target viral infections could be in high demand as a result.
• Supply chain disruptions: The pandemic has disrupted global supply chains, making it more difficult to manufacture and distribute cell and gene therapies. This could lead to shortages or delays in accessing these therapies.
• Increased investment: The pandemic has led to increased investment in the biotech sector, including the cell and gene therapy market. This could lead to more funding for research and development, which could accelerate the pace of innovation.
• Changes in healthcare delivery: The pandemic has accelerated the adoption of telemedicine and other remote healthcare technologies. This could make it easier for patients to access cell and gene therapies in the future, as these treatments often require specialized care.

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What are the ongoing Trends in Cell and Gene Therapy Market?

• Increased Focus on Rare Diseases: There is an increasing focus on developing cell and gene therapies for rare diseases. This is driven by a growing recognition of the unmet need in this area, as well as regulatory incentives such as orphan drug status and expedited approval pathways.
• Advances in Gene Editing Technologies: The development of new gene editing tools, such as CRISPR-Cas9, is revolutionizing the field of cell and gene therapy. These tools are making it easier to modify genes with precision, potentially leading to the development of more effective therapies.
• Personalized Medicine: There is a growing trend towards personalized medicine, with cell and gene therapies being tailored to individual patients based on their genetic profile. This could lead to more targeted and effective treatments, with fewer side effects.

What are the Challenges of Cell and Gene Therapy Market?

• High Cost: Cell and gene therapies can be very expensive, both in terms of development and manufacturing costs, as well as the cost of the therapy itself. This can make it difficult for patients to access these therapies and can limit their adoption by healthcare providers.
• Complex Manufacturing: Manufacturing cell and gene therapies can be complex and challenging, requiring specialized facilities and processes. This can lead to capacity constraints and supply chain issues, which can limit the availability of these therapies.
• Regulatory Hurdles: The regulatory landscape for cell and gene therapies can be complex and uncertain, with varying requirements across different countries and regions. This can create challenges for companies seeking to bring these therapies to market.

What are the Recent News in Cell and Gene Therapy Market?

• In January 2023, Vector BioMed launched a solution for startups who plans to open up cell and gene therapy bottleneck. The company has its own manufacturing facility and has raised $15 million in funding to focus on lentiviral vectors used in ex-vivo treatments.
• In January 2022, Ori Biotech launched new cell and gene therapy platform after US$100 million in Series B funding. It will bring potential for cell and gene therapy manufacturing platform with expansion of business in market.

Browse Other Related Research Reports from Prophecy Market Insights:

• Cell Therapy Market accounted for US$ 5.8 billion in 2020 and is estimated to be US$ 19.6 billion by 2030 and is anticipated to register a CAGR of 13.1%.
• Cell and Gene Therapy CDMO Market accounted for US$ 3.2 billion in 2022 and is estimated to be US$ 18.6 billion by 2032 and is anticipated to register a CAGR of 18.1%.
• CART Cell Therapy Market accounted for US$ 2.5 billion in 2022 and is estimated to be US$ 16.88 billion by 2032 and is anticipated to register a CAGR of 21.3%.

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