The cell and gene therapy industry is a transformative industry whose full potential is only just beginning to emerge. Cell and gene therapy involves the extraction of cells, protein, or genetic material (DNA) from the donor and their alteration to provide highly personalized therapy. Cell and gene therapies may offer longer-lasting effects than traditional medicines.
Various market players are actively investing in the research and development of the cell and gene therapy industry. The players are offering improved and new products that provide critical unmet needs of patients. For instance, the U.S. Food and Drug Administration (FDA) approved Novartis’ cell and gene therapy candidate Zolgensma to treat spinal muscular atrophy (SMA) in May 2019. The drug is designed to address the genetic root cause of SMA by providing a functional copy of the human SMN gene to halt disease progression through sustained SMN protein expression with a single, one-time intravenous (IV) infusion
The global cell and gene therapy market (marketed and pipeline products) was valued at $2,599.7 million in 2020 and is expected to reach $25,002.1 million by 2027, growing at a CAGR of 33.82% during the forecast period 2021-2027. The market growth can primarily be attributed to the expected product launches and approvals within the cell and gene therapies market.
The global cell and gene therapy market is anticipated to grow at a massive rate in the forecast period. The growth is poised to disrupt the biopharmaceutical market in the upcoming years. Several factors are responsible for driving the growth of the market. The major factors responsible for driving the market growth are increasing prevalence of cancer and chronic diseases, rising number of clinical trials for cell and gene therapy, rise in the funding in the cell and gene therapy market, and favorable regulatory environment.
The global cell and gene therapy market consists of numerous large-scale and small-scale manufacturers. Presently, with the boost in cell and gene therapies manufacturing technologies and with the increasing adoption of precision medicine in healthcare, the manufacturers in the market have an ample number of opportunities to expand their offerings and to establish a strong foothold in the market.
Companies Mentioned in the Report:
• Amgen Inc.
• bluebird bio, Inc.
• Dendreon Pharmaceuticals LLC.
• Castle Creek Pharmaceutical Holdings
• Human Stem Cells Institute
• Kite Pharma, Inc.
• Kolon TissueGene, Inc.
• Novartis AG
• Orchard Therapeutics plc.
• Organogenesis Holdings Inc.
• Pfizer, Inc.
• RENOVA THERAPEUTICS
• Shanghai Sunway Biotech Co., Ltd.
• Sibiono GeneTech Co. Ltd.
• Spark Therapeutics, Inc.
• Vericel Corporation
Key Questions Answered in this Report:
• What are the different types of approved cell and gene therapies available in the respective market?
• What are the key development strategies implemented by the key players to stand out in this market?
• What are the various manufacturing considerations within the cell and gene therapy market?
• How have the strategic collaborations among the key players providing a push to product development within the global cell and gene therapy market?
• What are the regulations pertaining to the global cell and gene therapy market in different regions?
• What are the initiatives implemented by different government bodies regulating the development and commercialization of cell and gene therapy products and associated platforms?
• How has COVID-19 impacted the cell and gene therapy market?
• How will the urgency of the pandemic influence the global cell and gene therapy market?
• What are the leading companies dominating the global cell and gene therapy market?
• What is the reimbursement scenario of the products offered in the global cell and gene therapy market?
• Based on the product type, which therapy in the global cell and gene therapy market is anticipated to witness a massive rise in demand in the forecast period?
• How is each segment of the global cell and gene therapy market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2027?