Cell and gene therapy has emerged as a promising approach to address various disease burdens. These therapies aim to use regenerative and rejuvenatory properties of cells and genetic material to treat chronic and life-threatening conditions. They utilize healthy cells or modified genes to replace or repair damaged cells or genes in the body. Cell and gene therapies are being developed for conditions such as cancer, neurological disorders, cardiovascular diseases and rare genetic disorders.
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 19.4% over the forecast period of 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
A variety of cell and gene therapy products are available or under development to treat different diseases. These include autologous therapies using stem cells, CAR T-cell therapies for cancer and gene therapies employing viral and non-viral vectors. Their targeted approach addresses the underlying cause of diseases instead of just managing symptoms. This allows for a curative outcome in several conditions. Further, factors such as rising burden of diseases, increase in funding for R&D and growth of regenerative medicine are fueling the development of cell and gene therapies. However, high development cost and complexity in manufacturing and regulation remain key challenges.
Market Key Trends:
One of the major trends in the cell and gene therapy market is the significant increase in deal activities and partnerships. Organizations are collaborating to accelerate the development and commercialization of these novel therapies. For instance, in February 2024, Novartis entered into a licensing agreement with GE Healthcare to utilize MRIdian, the latter’s system for advanced radiation therapy, in combination with chimeric antigen receptor T-cell (CAR-T) therapy trials conducted by Novartis. Such collaborations allow companies to leverage complementary capabilities and resources to enhance cell and gene therapy programs. This reflects the growing interest in these therapies.
Porter’s Analysis
Threat of new entrants: The high capital requirements and stringent regulations in the cell and gene therapy market poses significant barriers for new companies.
Bargaining power of buyers: Individual consumers have little bargaining power as they need to rely on healthcare providers for access to cell and gene therapies.
Bargaining power of suppliers: Key raw material suppliers like biologics and cell culture media providers hold some bargaining power.
Threat of new substitutes: Alternate advanced therapies like gene editing pose a potential threat but cell and gene therapies currently have few effective substitutes.
Competitive rivalry: The market is consolidated with major players competing on manufacturing scale, R&D capabilities and intellectual property ownership.
Key Takeaways
The Global Cell And Gene Therapy Market Demand is expected to witness high growth over the forecast period. 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 19.4% over the forecast period of 2024 to 2031.
North America currently dominates the market due to rapidly growing adoption and supportive regulatory environment in the region. The cell and gene therapy market in Asia Pacific is expected to grow at the fastest rate during the forecast period due to rising healthcare spending, lower costs of clinical trials and increasing collaboration between global pharmaceutical companies and research institutes in the region.
Key players operating in the cell and gene therapy market are focusing on capacity and pipeline expansion through mergers, acquisitions and partnerships to strengthen their market presence. Key players operating in the cell and gene therapy market 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, Tadano Faun GmbH, Broderson Manufacturing Corp., SENNEBOGEN Maschinenfabrik GmbH.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it