Cell and Gene Therapy CRO Market Forecast Shows Robust Growth Across North America, Europe, and Asia-Pacific

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Cell and Gene Therapy CRO Market- (By Type of Cell Therapy (CAR-NK, CAR-T, TCR-T, and Others), By Type of Genetic Modification (Ex vivo and In vivo), By Stage of Development (Discovery, Preclinical, and Clinical)), By Therapeutic Area, By End-user, By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

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 are redefining modern medicine by addressing the root causes of diseases rather than merely managing symptoms. These therapies have demonstrated considerable potential in treating conditions that have historically been resistant to conventional interventions, including ocular disorders, neurological diseases, and various cancers.

A notable approach within this domain involves employing viral vectors to deliver therapeutic genes directly to cardiac or arterial cells. Clinical studies have reported encouraging outcomes in the treatment of cardiovascular conditions, such as heart failure and hereditary cardiac disorders, highlighting the potential for broader clinical applications.

The market's expansion is being further propelled by substantial investments in gene therapy research and development from both public institutions and private organizations. As a result, the cell and gene therapy segment targeting coronary artery disease is projected to experience significant growth over the coming years. Nevertheless, the retention of skilled professionals within the global cell and gene therapy contract research organization (CRO) sector remains a critical challenge, posing a barrier to sustaining a competent and stable 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

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Market Dynamics
Drivers:
The cell and gene therapy market for cardiovascular diseases is witnessing growing demand, driven by the increasing prevalence of chronic conditions, including cancer and rare genetic disorders. Enhanced recognition of gene therapy as a viable treatment modality, combined with substantial government support and funding initiatives, is accelerating market growth.

Challenges:
The expansion of the cell and gene therapy contract research organization (CRO) market faces several impediments. High capital requirements, a shortage of skilled professionals, and inconsistent regulatory frameworks-compounded by disruptions during the COVID-19 pandemic-have slowed progress, particularly in emerging markets.

The production and delivery of gene therapies remain cost-intensive, often limiting patient access, especially among individuals lacking comprehensive insurance or financial resources. The absence of standardized payment models and constrained insurance reimbursement options further exacerbates affordability challenges. Additionally, uncertainties surrounding the long-term safety and efficacy of gene therapies contribute to cautious adoption by healthcare providers and payers, particularly for rare diseases.

The COVID-19 pandemic significantly impacted the sector, disrupting clinical trials due to site closures, supply chain interruptions, and operational restrictions, thereby delaying overall market development.

Regional Trends:
North America is projected to maintain a leading position in the cell and gene therapy CRO market, supported by rising cardiovascular disease prevalence, significant investments in research and development, technological innovations, government initiatives, and increasing healthcare expenditures.

Europe also holds a substantial market share, driven by a large patient population, higher incidence rates of cancer and other chronic diseases, growing awareness of gene therapies, and increased research funding. These factors collectively support the continued expansion of the gene therapy market across the region.

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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.

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

Read Overview Report- https://www.insightaceanalytic.com/report/cell-and-gene-therapy-cro-market/2521

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 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.

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This release was published on openPR.