Cell And Gene Therapy Market Report 2023-2032: Trends, Growth Drivers, Demand And Forecast | Gilead Sciences, Bristol-Myers Squibb, Novartis AG, Amgen, Merck

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Cell And Gene Therapy Global Market Report 2023 identifies Steady investment and consolidation in cell and gene therapies as the major driver for the Cell And Gene Therapy market's growth in the forecast period. After recognizing the potential of the CGT market, 16 out of the 20 largest biopharmaceutical companies by revenue, added CGT products to their portfolios. For instance, Merck invested $109 million in viral vector and gene therapy manufacturing in April 2020. 

The global cell and gene therapy market size grew from $8.57 billion in 2022 to $10.95 billion in 2023 at a compound annual growth rate (CAGR) of 27.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global cell and gene therapy is expected to grow from $26.21 billion in 2027 at a CAGR of 24.4%.

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Major competitors in the Cell And Gene Therapy market are Gilead Sciences, Bristol-Myers Squibb, Novartis AG, Amgen, Merck.

A key trend in the Cell And Gene Therapy market includes Limited reimbursements preventing patients from receiving treatments. Major players are Trinity Life Sciences, a life sciences solution provider, researched national and large regional commercial health insurance plans in the US and found that the confluence of increasing price, patient volume, and number of CGTs on the market is likely to change the reimbursement model for CGTs and impact payer budgets by 5-10%. Payers realize that financing needs to be generated for cost management due to the uncertainty surrounding reimbursement of ancillary costs. Limited reimbursements and uncertain insurance plans are preventing patients from receiving high-cost CGT, which is expected to limit the market growth.

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The Cell And Gene Therapy market is segmented -

1. By Product: Cell Therapy, Gene Therapy
2. By Application: Oncology, Dermatology, Musculoskeletal, Other Applications
3. By End User: Hospitals, Ambulatory Surgical Centers, Cancer Care Centers, Wound Care Centers, Other End-Users
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Cell And Gene Therapy market.

The Business Research Company's "Global Cell And Gene Therapy Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Cell And Gene Therapy Market Include:

1. Executive Summary
2. Cell and Gene Therapy Market Characteristics
3. Cell and Gene Therapy Market Trends And Strategies
4. Cell and Gene Therapy Market - Macro Economic Scenario
5. Cell and Gene Therapy Market Size And Growth
……
27. Cell and Gene Therapy Market Competitive Landscape And Company Profiles
28. Cell and Gene Therapy Pipeline Analysis
29. Key Mergers And Acquisitions In The Cell and Gene Therapy Market
30. Cell and Gene Therapy Market Future Outlook and Potential Analysis
31. Appendix

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