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Cell and Gene Therapy CRO Market Know the Scope and Trends
According to the latest research by InsightAce Analytic, the Global Cell and Gene Therapy CRO Market is valued at US$ 1.46 Bn in 2023, and it is expected to reach US$ 2.43 Bn by 2031, with a CAGR of 6.7% during the forecast period of 2024-2031.
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Gene therapies represent a transformative approach in the field of medicine, offering the potential to address a wide range of medical conditions by targeting their underlying genetic causes rather than merely alleviating symptoms. This therapeutic strategy holds particular promise for diseases that have shown resistance to conventional treatments, including disorders affecting the eyes, nervous system, and certain forms of cancer. One common method involves the use of viral vectors to deliver therapeutic genes directly to cardiac or arterial cells. Clinical trials have shown encouraging results, particularly in cases of heart failure and inherited cardiovascular conditions, indicating the potential of gene therapy to enhance cardiac function.
The field of cell and gene therapy continues to attract significant interest and investment from both public and private sectors, signaling strong growth prospects. As a result, the market for cell and gene therapies, particularly in the treatment of coronary artery disease, is expected to expand in the coming years. However, the sector faces notable challenges, particularly in maintaining a skilled workforce.
List of Prominent Players in the Cell and Gene Therapy CRO Market:
• Altasciences
• Allucent
• CMIC
• Labcorp
• Linical
• Medpace
• PPD
• Precision for Medicine
• QPS
• Syneos Health
• CMED
• ICON
• Pharmalex
• Novotech
Market Dynamics:
Drivers:
The rising demand for cell and gene therapies in the cardiovascular disease segment is primarily driven by the increasing prevalence of chronic conditions, including cancer and rare genetic disorders. As awareness grows around the potential of gene therapies to address diseases that are resistant to conventional treatments, particularly in oncology, more patients and healthcare providers are considering these innovative approaches. Additionally, supportive government initiatives and increased public and private sector investments are further accelerating market expansion.
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Challenges:
Despite the promising outlook, several significant challenges hinder the growth of the cell and gene therapy contract research organization (CRO) market. High development and operational costs remain a major barrier, largely due to the advanced and specialized nature of gene therapy technologies. These costs are frequently transferred to patients, making access to these treatments difficult, especially for individuals without sufficient insurance coverage or financial resources. Moreover, the absence of standardized reimbursement frameworks and limited insurance participation contribute to the high cost burden.
Regional Trends:
North America is expected to lead the global cell and gene therapy CRO market, driven by the rising incidence of cardiovascular conditions, robust R&D investments, continuous technological advancements, and the introduction of government-funded healthcare initiatives. The region also benefits from a highly developed healthcare infrastructure and significant private sector involvement. In Europe, the market holds a considerable share, supported by a growing patient base, increasing public awareness, a higher prevalence of genetic and infectious diseases, and ongoing advancements in gene therapy research and clinical trials.
Recent Developments:
• In January 2024, ICON plc announced that Chief Financial Officer Brendan Brennan would resign in the final period of this year to pursue an adventure within the CRO field. To facilitate a seamless transfer to the new Chief Financial Officer, Brendan will continue in his current position and join the firm. A hunt for ICON's next chief financial officer has begun.
• In March 2024, Novotech announced that the Commission for Drugs for Humans of the European Medicines Agency (EMA) has recommended that Fabhalta (iptacopan) be approved for marketing to treat adulthood with nocturnal paroxysms of hemoglobin (PNH) and hemolytic anemia.
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Segmentation of Cell and Gene Therapy CRO Market
By Type of Cell Therapy
• CAR-NK
• CAR-T
• TCR-T
• Others
By Type of Genetic Modification
• Ex vivo
• In vivo
By Stage of Development
• Discovery
• Preclinical
• Clinical
By Therapeutic Area
• Blood Disorders
• Cardiovascular Disorders
• Dermatological Disorders
• Immunological Disorders
• Infectious Diseases
• Metabolic Disorders
• Musculoskeletal Disorders
• Neurological Disorders
• Oncological Disorders
• Rare Diseases
• Other disorders
Cell and Gene Therapy CRO Market-By End-Users
• Industry Players
• Non-Industry Players
Cell and Gene Therapy CRO Market-By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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