by Cell and gene therapies offer promising treatments for serious diseases by repairing or replacing defective genes. They involve modifying cells to treat and prevent the progression of conditions like cancer, genetic disorders, infectious diseases. These innovative therapies utilize viruses, human, or animal cells to introduce genetic material into patient’s cells and tissue for repairing malfunctioning genes. Rising prevalence of cancer and other chronic illnesses, increasing success rate of clinical trials, growing demand for personalized healthcare are some of the key factors fueling the cell and gene therapy market.
The global Cell and Gene Therapy Market is estimated to be valued at US$ 18.29 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Cell and gene therapies are emerging as a viable alternative to conventional treatment methods as they remedy the root cause of certain diseases. They have shown promising results for treating blood, immune, and metabolic disorders. Ongoing research and development of advanced treatment approaches including CAR T-cell therapy, administration through viral and non-viral vectors, and development of universal allogeneic cell therapies are further broadening the scope of these therapies. The global demand for personalized medicine is also driving pharmaceutical companies to invest heavily in cell and gene therapy development and commercialization.
Market key trends:
Adopting Gene Therapy as a Treatment Option for Genetic Disorders
Cell and gene therapies are increasingly being utilized as treatment options for various genetic disorders like cancer, hemophilia, and sickle cell disease which have limited curative options presently. The approval and commercial success of CAR T-cell therapies for blood cancer treatment and gene therapies for spinal muscular atrophy and other rare diseases has boosted confidence in these innovative treatment approaches. Ongoing clinical trials evaluating gene therapies for Duchenne muscular dystrophy, inherited retinal disease, and other genetic conditions indicate huge potential in this application segment. This growing success and feasibility of cure is a major factor bolstering the adoption of cell and gene therapy in managing inherited conditions in the coming years.
Porter’s Analysis
Threat of new entrants: The cell and gene therapy market requires high R&D investments and regulatory approvals which acts as a barrier for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as the medical technology involved and high treatment cost provides some differentiation.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key inputs such as vectors, genome editing tools are distinct though availability of substitutes maintain some competition.
Threat of new substitutes: Substitution threat is low as cell and gene therapies are distinct from conventional drugs due to direct repair/replacement of defective genes/cells.
Competitive rivalry: The market sees intense competition between major players to gain market share through focus on niche areas, strategic partnerships and new product launches.
Key Takeaways
The Global Cell And Gene Therapy Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America dominated the market in 2023 and is expected to grow at a high rate over the forecast period driven by increased funding for research, supportive regulations and presence of major market players. Asia Pacific is expected to be the fastest growing region supported by improving healthcare infrastructure, large patient population and initiatives to develop local expertise.
Key players: Key players operating in the cell and gene therapy market include Alnylam Pharmaceuticals Inc., Amgen Inc., Biogen Inc., CORESTEM Inc., Dendreon Pharmaceuticals LLC., Helixmith Co. Ltd., JCR Pharmaceuticals Co. Ltd., Kolon TissueGene Inc., Novartis AG, Pfizer Inc. Companies are focusing on strategic collaborations to develop new therapies and gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
