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Advanced Therapy Medicinal Products Industry to See Robust Expansion, Valued at $104.43 Billion by 2029
Advanced Therapy Medicinal Products Market
What Is the Projected CAGR for the Advanced Therapy Medicinal Products Market from 2024 to 2025?
The market for advanced therapy medicinal products has expanded at a swift pace in the preceding years. This market is predicted to ascend from $42.85 billion in 2024 to $51.34 billion in 2025, portraying a compound annual growth rate (CAGR) of 19.8%. The historical period's growth is credited to the escalating number of clinical trials for gene and cell therapies, expanding instances of rare and genetic disorders, growing preference for permanent treatment over chronic disease control, increasing triumph rate of early-phase clinical studies, and the mounting prevalence of chronic and age-driven conditions.
What are the Expected Market Size and CAGR for Advanced Therapy Medicinal Products by 2029?
Rapid expansion is anticipated in the advanced therapy medicinal products market over the coming years, predicted to reach $104.43 billion in 2029 with a compound annual growth rate (CAGR) of 19.4%. Factors driving growth during this forecast period include increased demand for targeted and precision medicine, a growing pipeline of chimeric antigen receptor t-cell and gene-editing therapies, rising acceptance of precision medicine and genomics, increasing health care spending in developing markets, and a newfound emphasis on decentralized clinical trials. Forward-looking trends for the forecast period span the development of allogeneic off-the-shelf therapies, the creation of non-viral gene delivery vectors, the integration of digital twins in therapy simulations, blockchain implementation in supply chain monitoring, and advancements in 3D bioprinting for tissue engineering.
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Which Factors Are Driving the Global Advanced Therapy Medicinal Products Market Expansion?
The growth of the advanced therapy medicinal products market is anticipated to be driven by the escalating demand for personalized medicine. This refers to a medical strategy that customizes treatment and prevention techniques in accordance with an individual's genetic makeup, lifestyle, and surroundings. The rising demand for personalized medicine is predominantly attributable to the growing occurrence of chronic illnesses, as it offers customized treatments that enhance patient outcomes and minimize side effects. Advanced therapy medicinal products allow for personalized medicine by providing custom therapies like gene, cell, and tissue-engineered therapies, targeting the unique genetic profiles and biological traits of each patient. The Personalized Medicine Coalition, a non-profit organization based in the US, reported in February 2024 that 16 new personalized treatments had been approved by the FDA in 2023 for rare disease patients, a significant increase from just six the previous year. The newly sanctioned personalized treatments in 2023 also comprised seven cancer drugs and three for additional diseases and conditions. Thus, the growing demand for personalized medicine is a significant contributor to the expansion of the advanced therapy medicinal products market.
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Which Segment Currently Holds the Largest Share of the Advanced Therapy Medicinal Products Market?
The advanced therapy medicinal products market covered in this report is segmented -
1) By Product: Somatic Cell Therapy Medicinal Products, Tissue Engineered Medicinal Products, Gene Therapy Medicinal Products
2) By Technology: Gene Editing Technologies, Viral Vector Technology, Stem Cell Technology, Automation And Artificial Intelligence-Driven Processes
3) By Application: Muscular Dystrophies, Alzheimer's, Hemophilia, Cystic Fibrosis, Other Applications
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
5) By End User: Hospitals, Specialty Clinics, Other End Users
Subsegments:
1) By Somatic Cell Therapy Medicinal Products: Autologous Cell Therapy, Allogeneic Cell Therapy, Stem Cell Therapy, Dendritic Cell Therapy, Natural Killer Cell Therapy
2) By Tissue Engineered Medicinal Products: Autologous Tissue-Engineered Products, Allogeneic Tissue-Engineered Products, Scaffold-Based Tissue Engineering, Scaffold-Free Tissue Engineering, Skin Substitutes
3) By Gene Therapy Medicinal Products: In Vivo Gene Therapy, Ex Vivo Gene Therapy, Viral Vector-Based Gene Therapy, Non-Viral Vector-Based Gene Therapy, Gene Editing Therapies
Which Major Trends Are Shaping the Future of the Advanced Therapy Medicinal Products Industry?
Leading corporations in the advanced therapy medicinal products market are accentuating on novel treatments like new car-t cell therapies to enhance solutions for cancer and other serious conditions. Car-t cell therapies represent cutting-edge cancer remedies that utilize the patient's own T cells, which are genetically manipulated to identify and eliminate cancer cells. For instance, in May 2022, Novartis AG, a pharmaceutical firm based in Switzerland, achieved U.S. Food and Drug Administration (FDA) sanctioning for Kymriah, a CAR-T cell treatment developed for adult patients suffering from recurring or resistant follicular lymphoma (FL) following two or more earlier systemic treatments. This therapy utilizes the patient's own T cells, genetically engineered to exhibit a chimeric antigen receptor (CAR) that targets the cd19 protein. This alteration allows the T cells to recognize and kill malignant B cells. Kymriah also integrates a 4-1BB costimulatory domain, promoting T cell growth and permanence, enabling sustained anti-tumor effects resulting from a single infusion.
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Which Key Players Dominate the Advanced Therapy Medicinal Products Industry Globally?
Major companies operating in the advanced therapy medicinal products market are F. Hoffmann-La Roche Limited., Novartis AG, Bristol-Myers Squibb Company, Takeda Pharmaceutical Company Limited., Lonza Group AG, Catalent Inc., BioMarin Pharmaceutical Inc., AGC Biologics Inc., ViaCyte Inc., Rentschler Biopharma SE, JCR Pharmaceuticals Co. Ltd., Vericel Corporation, UniQure N.V., Fate Therapeutics Inc., WuXi Advanced Therapies Inc., Celonic Group AG, Pharmicell Co. Ltd., Magenta Therapeutics Inc, MEDIPOST Co. Ltd., Kolon TissueGene Inc
What Are the Fastest-Growing Regions in the Advanced Therapy Medicinal Products Market?
North America was the largest region in the advanced therapy medicinal products market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced therapy medicinal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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