IMARC Group, a leading market research company, has recently released a report titled “Cell and Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global cell and gene therapy market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the cell and gene therapy market?
The global cell and gene therapy market size reached US$ 15.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 43.0 Billion by 2028, exhibiting a growth rate (CAGR) of 17.4% during 2023-2028.
Factors Affecting the Growth of the Cell and Gene Therapy Industry:
- Advancements in Biotechnology:
The rapid progress in biotechnology represents one of the key factors driving the growth of the cell and gene therapy market across the globe. Innovations in genetic engineering, such as CRISPR and CAR-T cell technologies, are revolutionizing the approach to treating complex diseases, including various cancers and genetic disorders. The development of more efficient and safer gene editing tools and cell therapy techniques is significantly improving treatment outcomes and expanding the range of treatable conditions. Furthermore, advancements in manufacturing and scaling up processes are making it possible to produce these therapies more efficiently, albeit still challenging, which is crucial for meeting the growing demand.
- Increasing Prevalence of Chronic Diseases:
The rising global incidence of chronic diseases, particularly cancers and genetic disorders, is a significant driver of demand for cell and gene therapies. These therapies offer potentially curative treatments for several conditions that have limited treatment options, which is addressing an urgent medical need, thus fueling the growth of the market. As the prevalence of these diseases increases with an aging population and lifestyle changes, the demand for innovative and effective treatments like cell and gene therapy is growing correspondingly which is bolstering the growth of the market.
- Favorable Government Policies and Funding:
Government policies and funding are acting as major growth-inducing factors in the growth of the cell and gene therapy market across the world. Many governments are recognizing the potential of these therapies and are providing support through regulatory frameworks that facilitate research, development, and commercialization. In addition to this, financial support in the form of grants, subsidies, and incentives for research and development (R&D) in this field has been instrumental in driving innovation and adoption. This support is crucial given the high costs and extensive research and development (R&D) involved in bringing these therapies to market.
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Cell and Gene Therapy Market Report Segmentation:
Breakup By Therapy:
- Cell Therapy
- Stem Cell
- Pluripotent Stem Cell
- Cancer Stem Cell
- Adult Stem Cell
- Non-Stem Cell
- T Cells
- Natural Killer
- Others
- Stem Cell
- Gene Therapy
On the basis of therapy, the market has been divided into cell therapy [stem cell (pluripotent stem cell, cancer stem cell, adult stem cell)], [non-stem cell (t cells, natural killer, others)] and gene therapy.
Breakup By Indication:
- Cardiovascular Disease
- Oncology Disorder
- Genetic Disorder
- Infectious Disease
- Neurological Disorder
- Others
Oncology disorders constitute the largest indication segment in the cell and gene therapy market due to the high prevalence of cancer worldwide and the effectiveness of these therapies in targeting and treating various types of cancer at a cellular level.
Breakup By Delivery Mode:
- In-Vivo
- Ex-Vivo
In-vivo delivery is the largest segment in the cell and gene therapy market because it allows direct delivery of therapeutic agents into the patient’s body, thus offering a more efficient and potentially effective treatment approach for a variety of conditions.
Breakup By End User:
- Hospitals
- Cancer Care Centers
- Pharmaceutical & Biotechnology Companies
- Others
Hospitals are the largest end-user segment in the cell and gene therapy market due to their comprehensive healthcare facilities, capacity to handle complex therapies, and the increasing number of these treatments being administered in a hospital setting.
Breakup By Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America is the largest region in the cell and gene therapy market due to its advanced healthcare infrastructure, significant investment in biotechnology research, and the presence of leading pharmaceutical and biotech companies driving innovation in this field.
Global Cell and Gene Therapy Market Trends:
The growing focus on personalized medicine, where therapies are tailored to individual genetic profiles, offers more effective treatment outcomes which is driving the growth of the market across the globe. Collaboration between pharmaceutical companies and biotech firms is increasing, thus pooling resources and expertise to accelerate therapy development and commercialization.
The market is also driven by the rise in advanced therapy medicinal products (ATMPs), due to breakthroughs in gene editing and cell manipulation technologies. In addition to this, there’s an expanding application of these therapies in treating a broader range of diseases, beyond cancer and rare genetic disorders. Apart from this, regulatory agencies are fast-tracking approvals for promising therapies, which is facilitating quicker patient access.
Leading Companies Operating in the Global Cell and Gene Therapy Industry:
- Amgen Inc.
- Biogen
- Bluebird bio, Inc.
- Bristol-Myers Squibb
- Gilead Science
- Kolon TissueGene Inc.
- Orchard Therapeutics plc.
- Pfizer Inc
- Renova Therapeutics
- Spark Therapeutics, Inc
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