The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Cell and Gene Therapy Global Market Report 2024, the cell and gene therapy market is expected to show promising growth in the forecast period.

The cell & gene therapy market size has witnessed exponential growth in recent years, with significant projections for the future.

• Current Market Trends:
  • Market size grew from $13.81 billion in 2023 to $17.31 billion in 2024 at a CAGR of 25.3%.
  • Key drivers include increased investments, R&D growth, and strong economic conditions in emerging markets.
• Future Projections:
  • Expected to reach $39.74 billion in 2028, exhibiting a CAGR of 23.1%.
  • Factors driving future growth include rising prevalence of cancer and chronic diseases, aging population, and increased healthcare spending.

Emerging Trends and Focus Areas

In the forecast period, several trends are expected to shape the landscape of the cell & gene therapy market.

• Advanced Therapies:
  • Focus on advanced therapies such as CAR T-cell therapy.
  • Concentration on research initiatives and funding acquisition.
• Strategic Collaborations:
  • Collaborations to integrate advanced technologies.
  • Development of gene editing tools, especially CRISPR.
• M&A Activities:
  • Partnering or acquiring competitor companies.
  • Increasing pipeline studies for cell and gene therapies.
• Infrastructure Investment:
  • Expansion of manufacturing facilities.

View More On The Cell and Gene Therapy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/cell-and-genes-therapy-global-market-report

Strategic Investments And Industry Consolidation Drive Growth

Steady investment and consolidation have played a significant role in driving growth in the cell and gene therapy market.

• Investment Initiatives:
  • Pfizer’s $68.5 million investment in a gene therapy facility in North Carolina.
  • Expansion of production capacity contributing to market growth.
• Key Players:
  • Major companies like Biogen Inc., Novartis AG, and Pfizer are driving industry growth.
  • Involvement of 16 out of the top 20 biopharmaceutical companies in CGT products.

Impact of CAR T-Cell Therapy

CAR T-cell therapy is a pivotal player in shaping the cell and gene therapy market.

• Technology Overview:
  • CAR T-cell therapy involves genetic engineering of T cells to target cancer cells.
  • Recent FDA approval for therapies like Breyanzi underscores its significance.

Novartis’ Acquisition of Gyroscope Therapeutics

Novartis expands its gene therapy portfolio with strategic acquisitions.

• Acquisition Details:
  • Novartis AG’s $800 million acquisition of Gyroscope Therapeutics.
  • Addition of GT005, an experimental gene therapy for eye diseases, to Novartis’ portfolio.

Market Segmentation and Regional Insights

Understanding the segmentation and regional dynamics of the cell and gene therapy market is crucial.

• Segmentation Overview:
  • Product segmentation: Cell Therapy, Gene Therapy.
  • Application segmentation: Oncology, Neurological Disorders, Others.
  • End-user segmentation: Hospitals, Ambulatory Surgical Centers, etc.
• Regional Insights:
  • North America leads the market in 2023, reflecting the region’s significant contribution to industry growth.

In conclusion, the cell & gene therapy market is witnessing unprecedented growth, driven by strategic investments, technological advancements, and evolving treatment paradigms. With emerging trends and innovations, the future of this market looks promising, offering new avenues for research, development, and patient care.

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