Cell And Gene Therapy Market Will Grow At Highest Pace Owing To Increasing Incidences Of Cancer And

Author : Ashwini cmi | Published On : 20 Mar 2024

The market deals with therapy areas like cancer, cardiovascular diseases, neurological disorders, and genetic disorders. Cell and gene therapies offer promising treatment outcomes with minimal side effects compared to traditional drug therapies. Some key approved cell and gene therapies include Kymriah for leukemia, Yescarta for lymphoma, Luxturna for inherited retinal disease, and Zolgensma for spinal muscular atrophy.

The global cell and gene therapy market is estimated to be valued at US$ 21.08 billion in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031.


Key Takeaways

Key players operating in the Cell And Gene Therapy Market Size  are Tadano Ltd, Liebherr Group, Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd, Sany Heavy Industry Co. Ltd, Zoomlion Heavy Industry Science and Technology Co., Kobelco Construction Machinery Co., Ltd, Manitowoc Cranes, Link-Belt Cranes, Kato Works Co. Ltd, Palfinger AG, Manitex International, Sichuan Changjiang Electric Co. Ltd, Altec Inc., Elliott Equipment Company, Böcker Maschinenwerke GmbH, Tadano Faun GmbH, Broderson Manufacturing Corp., Mühlhäuser GmbH & Co. KG, SENNEBOGEN Maschinenfabrik GmbH.

The cell and gene therapy market is witnessing high demand due to the increasing prevalence of cancer and genetic disorders globally. According to WHO, cancer burden is expected to grow to 27 million new cases and 16.3 million cancer deaths by 2040. Genetic disorders also affect over 6% of worldwide births.

Advancements in gene editing tools like CRISPR-Cas9 have accelerated cell and gene therapy product development. Technologies like induced pluripotent stem cells also allow development of patient-specific treatments.

Market Trends

Increased focus on immunotherapy - Immunotherapy is gaining prominence for treating cancers. Cell and gene therapies offer novel immunotherapies that can generate long-lasting responses compared to traditional immunotherapies.

Growing pipeline of cell and gene therapy products - Over 3000 cell and gene therapy candidates are in preclinical and clinical development stages worldwide for a variety of disease conditions. Several new products are expected to be commercialized over the next decade.

Market Opportunities

Oncology represents a major opportunity - Cancer remains one of the leading causes of death worldwide. Cell and gene therapies offer more targeted treatments with less toxicity compared to chemotherapy and radiation therapy.

Utilizing CRISPR for developing curative treatments - CRISPR technology allows precise gene editing and has potential to develop curative treatments for various genetic conditions like sickle cell anemia and beta thalassemia that currently only have management options.

Impact of COVID-19 on Cell And Gene Therapy Market
The COVID-19 pandemic has impacted the growth of the cell and gene therapy market. During the initial stages of the pandemic, many global markets witnessed a decline due to supply chain disruptions and manufacturing slowdowns. This also affected the cell and gene therapy market as clinical trials and new product development activities were put on hold to focus resources on COVID-19 treatment and vaccine development. However, with the pandemic continuing for over a year now, the focus on chronic and lifestyle diseases is gradually increasing again. The cell and gene therapy market is expected to witness strong growth post-COVID as it offers potential treatment avenues for several chronic conditions.

The delay in new product approvals and clinical trial activities during the peak of the pandemic has pushed the market forecast period by a few months. However, accelerated vaccine development for COVID-19 has also boosted infrastructure and capabilities for cell and gene therapy manufacturing and development. This will help the market recover faster than anticipated. Going forward, companies are focusing on digital healthcare solutions and decentralized clinical trials to ensure continuity of care and new therapies reaching patients. Collaboration between industry and governments will also be important to sustain the long-term growth trajectory of this market.

Geographical regions with highest cell and gene therapy market value

North America has been the region with the highest market value for cell and gene therapy owing to supportive regulations, advanced healthcare infrastructure and high adoption of new therapies especially in the US. Majority of clinical trials and FDA approvals for new cell and gene therapies are concentrated in the US which has propelled the North America market size. Europe is the second largest region in terms of value led by countries like Germany, France and UK with active research ecosystems and universal healthcare systems providing access to high-quality care. Asia Pacific is poised to be the fastest growing regional market with China and Japan leading growth on back of increasing investments in biotech and focus on making cell and gene therapies mainstream for diseases like cancer.

Geographical region witnessing fastest growth for cell and gene therapy market

Asia Pacific region is witnessing the fastest growth for cell and gene therapy market driven by double digit annual growth rates in countries like China and South Korea. This growth can be attributed to rising healthcare expenditures, increasing burden of chronic diseases, strengthening biotech research infrastructure and regulatory frameworks supporting clinical translation. China represents a major high growth opportunity with presence of leading contract research and manufacturing organizations as well as local pharmaceutical companies investing to build cell and gene therapy capabilities. Economic development is enabling greater access to advanced therapies. Governments are prioritizing healthcare through policies and funding to address unmet needs through cutting-edge technologies like cell and gene therapies. This makes Asia Pacific the most opportunistic market globally for cell and gene therapy companies to expand their geographic footprint and tap into fast growing markets of the future.

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