The global Cell And Gene Therapy Market is estimated to be valued at US$ 18.29 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell and gene therapy involves modifications of cells or genes to treat or cure disease. These therapies help treat various genetic disorders, cancer, cardiovascular diseases, neurological disorders and infectious diseases. It has advantages over traditional treatments as it is highly personalized and results in long lasting effects.
Market key trends:
3D bioprinting is emerging as a key technology for cell and gene therapy production. It helps fabricate tissue-like structures using living cells and biomaterials. This leads to more organ-like structures that mimic natural tissues which enhances efficacy and safety of treatments. It allows uniform distribution of cells and reduces manufacturing time and costs. Advanced 3D bioprinting techniques are being developed that use smaller volumes of starting materials and are suitable for industrial scale production. Rising R&D investments by key players to develop these technologies will drive the cell and gene therapy market growth over the forecast period.
Segment Analysis
Cell And Gene Therapy Market Size is segmented into cell therapy and gene therapy. Within cell therapy, stem cell therapy dominates the market and accounts for over 40% share. This is because stem cells have the ability to develop into different cell types in the body which makes them viable candidates for the treatment of variety of diseases.
Key Takeaways
The global cell and gene therapy market is expected to witness high growth, exhibiting CAGR of 18.% over the forecast period, due to increasing prevalence of chronic diseases like cancer, neurological disorders and respiratory diseases.
Regional analysis
North America dominates the cell and gene therapy market with over 30% share. This is because of increasing healthcare expenditure, growing research in cell and gene therapy and presence of leading market players in the region. Asia Pacific is anticipated to exhibit fastest growth over the forecast period with CAGR of 20%, owing to rising healthcare awareness, growing investments in healthcare research and improving healthcare infrastructure in emerging economies like China and India.
Key players
Key players operating in the cell and gene therapy market are Alnylam Pharmaceuticals Inc., Amgen Inc., Biogen Inc., CORESTEM Inc., Dendreon Pharmaceuticals LLC, Helixmith Co. Ltd., JCR Pharmaceuticals Co. Ltd., Kolon TissueGene Inc., Novartis AG, Pfizer Inc. These players are focusing on developing advanced and innovative cell and gene therapies for various conditions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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