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Global Cell & Gene Therapy Manufacturing Services Market Overview 2033 : Forecasted Market Size And Growth Rate
Cell & Gene Therapy Manufacturing Services Global Market Report 2024
According to The Business Research Company's, The cell & gene therapy manufacturing services market size has grown rapidly in recent years. It will grow from $7.25 billion in 2023 to $8.55 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to increased r&d investments, regulatory support and frameworks, growing pipeline of cell & gene therapies, industry collaborations and partnerships, increasing global demand for personalized medicine.
The cell & gene therapy manufacturing services market size is expected to see rapid growth in the next few years. It will grow to $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to market maturation and commercialization, global expansion of biopharmaceutical manufacturing, increased outsourcing by pharma companies, advancements in automation and robotics, emergence of new therapeutic modalities. Major trends in the forecast period include rising demand for energy efficiency, advanced materials and technologies, compact and modular designs, electrification of transportation, focus on safety and reliability.
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Market Drivers and Trends:
The high incidence of cancer and other target diseases is expected to propel the growth of the cell and gene therapy manufacturing services market going forward. Cancer is a severe disorder in which the body's cells reproduce fast and uncontrollably, resulting in abnormal growth. Cell and gene therapies are developing as promising new strategies to combat the rising incidence of cancer, which is driving the demand for novel and efficient treatment choices. For instance, in January 2023, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, the number of cancer cases increased from 1,898,160 in 2021 to 1,958,310 in 2023, reflecting a growth of 3.16%. , Therefore, the high incidence of cancer and other target diseases is driving the growth of the cell and gene therapy manufacturing services market going forward.
Technological advancements are a key trend gaining popularity in the cell and gene therapy manufacturing services market. Major companies operating in the cell and gene therapy manufacturing services market are adopting new technologies to sustain their position in the market. For instance, in October 2022, Charles River Laboratories International Inc., a US-based pharmaceutical company specializing in various preclinical and clinical laboratory, gene therapy, and cell therapy services, launched the navigation Vector Platform (navigation). It is a platform that simplifies the path to GMP Adeno-Associated Virus (AAV) vector manufacturing without requiring extensive process development. Compared to standard manufacturing workflows, the navigation platform can cut a program's timeframe to GMP by 55% for viral vector gene therapy researchers. Charles River's navigation technique is based on a unique high-productivity HEK293 suspension cell line that can be scaled up and serotyped to meet clients' needs.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc.; Merck KGaA; Charles River Laboratories International Inc.; Lonza Group AG; Catalent Inc.; WuXi AppTec; Takara Bio Inc.; Nikon Corporation; Fujifilm Holdings Corporation; F. Hoffmann-La Roche Ltd; Oxford Biomedica plc; CGT Catapult; bluebird bio Inc.; Boehringer Ingelheim International GmbH; Innovative Cellular Therapeutics Co. Ltd.; Samsung Biologics Co. Ltd.; Novartis International AG; Pfizer Inc.; Brammer Bio; AGC Biologics; Cognate BioServices Inc.; Paragon Bioservices Inc.; Merck KGaA operating as MilliporeSigma; Sarepta Therapeutics Inc.; Spark Therapeutics Inc.; Orchard Therapeutics plc; Precision BioSciences Inc.; PCT a Hitachi Group Company; Aldevron LLC; BioNTech SE
Cell & Gene Therapy Manufacturing Services Market 2024 Key Insights:
• The cell & gene therapy manufacturing services market size will grow to $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%.
• Rising Prevalence Of Cancer And Other Target Diseases To Drive Market Growth
• Technological Advancements Driving Innovation In Cell And Gene Therapy Manufacturing Services Market
• North America was the largest region in the cell and gene therapy manufacturing services market in 2023
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