Cell and Gene Therapy Market Size, Surging Demand, Detailed Analysis, Major Players And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Cell and Gene Therapy Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The cell & gene therapy market size has grown exponentially in recent years. It will grow from $13.81 billion in 2023 to $17.31 billion in 2024 at a compound annual growth rate (CAGR) of 25.3%. The growth in the historic period can be attributed to increase in investments in cell and gene therapies, growth in research and development, advances in cancer drug discovery, rise in public-private partnerships, strong economic growth in emerging markets, increased healthcare expenditure, and rising in pharmaceutical r&d expenditure.

The cell & gene therapy market size is expected to see exponential growth in the next few years. It will grow to $39.74 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The growth in the forecast period can be attributed to increasing prevalence of cancer and chronic diseases, rising geriatric population, rising geriatric population, rising focus on cell and gene therapy, and rise in healthcare expenditure . Major trends in the forecast period include focusing on advanced therapies such as chimeric antigen receptor (car) t-cell therapy, concentrating on undertaking various research initiatives and attain funding, carrying out strategic collaborations to integrate advanced technologies, concentrating on developing gene/genome editing tools especially crispr, partnering or acquiring competitor companies, increasing the number of pipeline studies to develop cell and gene therapies, and investing in manufacturing facilities expansion.

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Key Market Players:

Major companies operating in the cell and gene therapy market report are Biogen Inc., Novartis AG, Gilead Sciences, Ionis Pharmaceuticals Inc., Alnylam Pharmaceuticals Inc., ArrowHead Pharmaceuticals Inc., Spark Therapeutics, Bluebird Bio Inc., RegenexBio, Mesoblast Limited, Biocon, Cipla, Stempeutics Research Pvt. Ltd., EdiGene Inc., Immunochina, Takara Bio, Daiichi Sankyo Company, Ultragenyx Pharmaceutical Inc, Mitsubishi Tanabe Pharma, Oxford Biomedica plc, Santen Pharmaceutical Co., Therapeutic Innovation Australia, Merck, GenScript, Cellular Biomedicine Group, GE Healthcare, inStem, Lonza, Nikon CeLL innovation Co. Ltd., Bristol-Myers Squibb, Amgen, Pfizer, Kite Pharma, Oxford BioTherapeutics, Freeline Therapeutics, PsiOxus Therapeutics, Herantis Pharma Plc, and AstraZeneca.

Market Drivers:

Steady investment and consolidation in cell and gene therapies contributed to the growth of the cell and gene therapy (CGT) market. 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, in December 2021, Pfizer has invested $68.5 million in a new state-of-the-art facility in Durham, North Carolina, to further advance gene therapy capabilities. The facility expands Pfizer's end-to-end capabilities in gene therapy and builds on the company's existing footprint in North Carolina, which includes more than 3,600 employees across sites in the state. Steady investment and consolidation in CGT production capacity led to an increase in production capacity and also contributed to the growth of the market.

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The cell and gene therapy market covered in this report is segmented -

1) By Product: Cell Therapy, Gene Therapy
2) By Application: Oncology, Neurological Disorders, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Cancer Care Centers, Wound Care Centers, Other End-Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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