 |
| Global Cell And Gene Therapy Market Size |
Cell and
gene therapy products help address cellular dysfunction and damage by replacing
missing or malfunctioning genes. With the use of cell-based and gene-based
medicines, healthcare providers can potentially treat chronic and
life-threatening conditions like cancer, diabetes, cardiovascular diseases, and
neurological disorders.
The global
Cell and Gene Therapy Market is estimated to be valued at US$ 2.03 billion in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period
2023-2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Advancements in gene therapy technologies is one of the key trends driving the
growth of cell and gene therapy market. Continuous research and development
activities are being carried out to enhance gene delivery methods and improve
therapeutic efficacy and safety of various gene therapy products. CRISPR/Cas9
gene editing technology has emerged as a promising tool for correcting genetic
mutations and designing novel gene therapies. Several startups focusing on
developing CRISPR-based therapies have attracted significant funding over the
past few years. Moreover, establishment of large-scale gene and cell therapy
manufacturing facilities by major players to boost commercial production will
further support the market growth during the forecast period.
Segment
Analysis
The global cell and gene therapy market is segmented based on therapy, therapy
type, end users and geography. By therapy type, cell therapy dominates the
market and accounts for the largest share. Cell therapy has shown promising
results for treating various chronic diseases. Within cell therapy, CD19 CAR-T
cell therapy segment holds the highest share as it is an approved therapy for
treating certain blood cancers. By therapy, cancer accounts for the highest
share as most of the cell and gene therapy products are approved for treating
cancer.
Key Takeaways
Global
Cell And Gene Therapy Market Size is expected to witness high growth
over the forecast period driven by rising incidence of cancer and other chronic
diseases, advances in science and technology.
Regional
analysis: North America currently dominates the market due to extensive research
activities, increasing funding for cell and gene therapy research. presence of
key market players, and availability of reimbursements. Europe holds the second
position due to supportive government initiatives for research and development.
Asia Pacific is expected to grow at the fastest pace due to expansion of
healthcare infrastructure, rising healthcare expenditure and growing
collaborations between regional and global market players.
Key players operating in the cell and gene therapy market are Novartis AG,
Gilead Sciences, Inc., Bluebird Bio, Inc., Spark Therapeutics, Inc., Celgene
Corporation, Human Stem Cells Institute, Anthropic, Inc. Novartis leads the
market due to its commercially approved CAR-T therapies, Kymriah and Tecartus.
Gilead has a strong pipeline of CAR-T therapies in development which is
expected to drive its growth over the forecast period.
Explore More Related Article On This
Topic: https://www.pressreleasebulletin.com/cell-and-gene-therapy-market-demand/
Explore More Related Article: http://insightprobe.weebly.com/blog/global-land-mobile-radio-lmr-systems-market-is-estimated-to-witness-high-growth-owing-to-opportunity-for-public-safety-applications