by Market Overview:
The global cell and gene therapy market is estimated to be valued at US$22.7 billion in 2023 and is expected to exhibit a CAGR of 28.7% over the forecast period of 2023-2030. Cell and gene therapy is a rapidly evolving field that involves the use of genetically engineered cells or genes to treat diseases and medical conditions. The market offers significant advantages such as improved treatment outcomes, reduced side effects, and potential cures for previously untreatable diseases. The need for innovative and effective treatment options, especially for genetic disorders and cancer, is driving the demand for cell and gene therapy products.
Market Key Trends:
One key trend in the cell and gene therapy market is the increasing adoption of CAR-T cell therapy. CAR-T cell therapy involves modifying a patient’s own T cells to express chimeric antigen receptors (CARs) that target cancer cells. This therapy has shown remarkable success in treating hematological malignancies, such as leukemia and lymphoma. The market is witnessing a growing number of CAR-T cell therapy approvals by regulatory authorities and collaborations between pharmaceutical companies to develop and commercialize CAR-T cell therapies. The increasing adoption of CAR-T cell therapy is expected to propel the growth of the cell and gene therapy market in the coming years.
Segment Analysis:
The Cell And Gene Therapy Market Size can be segmented into two main segments: cell therapy and gene therapy.
Cell therapy is expected to dominate the market due to its wide range of applications and effectiveness in treating various diseases. The segment includes the use of living cells to replace, repair, or regenerate damaged cells or tissues in the body. Stem cell therapy, in particular, has gained significant attention for its potential in treating conditions such as cancer, cardiovascular diseases, and neurodegenerative disorders. The increasing prevalence of these diseases and the growing demand for personalized medicine are driving the growth of the cell therapy segment.
Key Takeaways:
The global cell and gene therapy market is expected to witness high growth, exhibiting a CAGR of 28.7% over the forecast period from 2023 to 2030. This remarkable growth can be attributed to several factors. Firstly, the increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and genetic disorders is driving the demand for innovative treatment options. Cell and gene therapies offer the potential for more targeted and personalized approaches to disease management, thereby fueling market growth.
Regionally, North America is expected to dominate the cell and gene therapy market during the forecast period. This can be attributed to factors such as a well-established healthcare infrastructure, favorable regulatory environment, and increasing investments in research and development. Additionally, the presence of key market players in the region contributes to its dominance.
Key players operating in the cell and gene therapy market include Novartis International AG, Pfizer, Inc., Sanofi S.A., Amgen, Inc., Regeneron Pharmaceuticals, Inc., Bluebird Bio, Inc. (Celgene Corporation), Biogen Inc., uniQure N.V., JCR Pharmaceuticals Co. Ltd., Gene Biotherapeutics, Kolon TissueGene, Inc., Horama S.A., MeiraGTx Limited, Gilead Sciences, Inc., Organogenesis, Inc., Orchard Therapeutics Plc., Freeline Therapeutics Ltd., Bristol-Myers Squibb Company, PTC Therapeutics, Inc., Spark Therapeutics, Inc., and Biomarin Pharmaceutical Inc. These key players are focused on strategic collaborations, acquisitions, and product launches to strengthen their market position and expand their product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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