NEWARK, Del, Jan. 03, 2024 (GLOBE NEWSWIRE) -- A recently released Future Market Insights study estimates that the cell and gene therapy manufacturing market will generate US$ 15.6 billion in revenue in 2022 and is expected to increase at a compound annual growth rate (CAGR) of 29% from 2023 to 2033. The market is anticipated to reach US$ 240 Billion by the end of 2033.
According to a new study, more than 50 million people will be diagnosed with cancer within the next five years. Aging populations and socioeconomic risk factors are two of the most common causes of cancer cases worldwide. Breast cancer is also one of every four cancers diagnosed in women worldwide, according to the same source.
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Breast cancer has surpassed lung cancer as the most commonly diagnosed cancer worldwide for the first time, owing to its high incidence in low- and middle-income nations. Because cancer is one of the most complex diseases, cell and gene therapy is one of the fields with a significant opportunity for cancer treatment.
Immunotherapy, gene transfer, and oncolytic virotherapy are three separate gene therapy treatment techniques that can be used to treat cancer. As the number of instances increases, so will the reliance on gene therapy, thus driving the market growth.
The market in Asia Pacific is expected to offer a significant opportunity to the market owing to the continuous developments taking place in the regional marketplace. Best practices are being discovered in cell and gene therapy manufacturing as well as in scaling out strategies, process development, cost optimization, advancements in CAR-T manufacturing, and preparation for commercialization.
Competitive Landscape
The growing interest of public and private investors in the development of advanced therapies is expected to boost market revenue during the forecast period. In addition, key firms are enhancing their market presence through strategic activities such as mergers and acquisitions, licensing, and partnerships.
Several noteworthy mergers and acquisitions have occurred in the market in recent years.
“The Cell and Gene Therapy Manufacturing Market, as elucidated in our recent research study, is poised for unprecedented growth, driven by the surging demand for innovative therapeutic solutions. Our comprehensive analysis reveals a dynamic landscape marked by advancements in manufacturing technologies, strategic collaborations, and an expanding pipeline of novel therapies. As research manager, we anticipate a robust market trajectory, with key players strategically positioning themselves to capitalize on the burgeoning opportunities within this transformative sector,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
Some of the recent developments of key Cell and Gene Therapy Manufacturing providers are as follows:
- In January 2022, Thermo Fisher Scientific bought Novasep’s viral vector production company. This agreement allowed the corporation to increase its global vector manufacturing capacity.
- In February 2020, to strengthen its market footprint in cell and gene therapy platforms, Catalent Inc. announced the acquisition of MaSTherCell Global, Inc. for US$ 315 Million.
- In December 2020, Be the Match and Lonza BioTherapies and BioTherapies formed a joint venture to develop the vein-to-vein cell and gene therapy supply chain network, primarily in North America and Europe.
Cell and Gene Therapy Manufacturing Market Size:
| Attribute | Details | |
| Global Cell and Gene Therapy Market (2023) | US$ 19.3 Billion | |
| Global Cell and Gene Therapy Market (2033) | US$ 240 Billion | |
| Global Cell and Gene Therapy Market CAGR (2023 to 2033) | 29 % | |
| USA Cell and Gene Therapy Market CAGR (2023 to 2033) | 28.5 % | |
| Key Companies Profiled |
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Cell and Gene Therapy Manufacturing Market Segmentation:
By Therapy Type:
- Cell Therapy Manufacturing
- Stem Cell Therapy
- Non-Stem Cell Therapy
- Gene Therapy Manufacturing
By Scale:
- Pre-commercial/ R&D Manufacturing
- Commercial Scale Manufacturing
By Mode:
- Contract Manufacturing
- In-house Manufacturing
By Workflow:
- Cell Processing
- Cell Banking
- Process Development
- Fill & Finish Operations
- Analytical And Quality Testing
- Raw Material Testing
- Vector Production
- Other Workflows
By Region:
- North America
- USA
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of the Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore Future Market Insights, Inc. Extensive Coverage in Healthcare Market Domain:
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- Cell and Gene Therapy Clinical Trial Market Revenue: A newly released Market analysis report by Future Market Insights shows that global sales of the Cell and Gene Therapy Clinical Trial Market in 2021 were held at US$ 10.7 Billion.
- Retinal Gene Therapy Market Trends: According to Future Market Insights research, during the projected period, the global market is expected to grow at a CAGR of 9.2%.
- Gene Therapy In CNS Disorder Market Forecast : The global market is expected to garner a market value of US$ 8.2 Billion in 2023 and is expected to accumulate a market value of US$ 113.04 Billion by registering a CAGR of 30% in the forecast period 2023 to 2033.
- Cancer Gene Therapy Market Growth: The global demand for the cancer gene therapy is expected to increase at a 10.1% CAGR from 2022 to 2032, reaching US$ 2 Billion in 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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