The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cell and gene therapy market report forecasts the cell and gene therapy market size to grow to $26.21 Billion by 2027, with a CAGR (compound annual growth rate) of more than 24%.

Learn More On The Cell and Gene Therapy Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cell-and-genes-therapy-global-market-report

Cell and Gene Therapy Market Size Forecast

The global cell and gene therapy market is expected to grow from $8.57 billion in 2022 to $10.95 billion in 2023 at a compound annual growth rate (CAGR) of 27.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cell and gene therapy market is expected to grow from $26.21 billion in 2027 at a CAGR of 24.4%.

Key Cell and Gene Therapy Market Driver ­– Increase In Steady Investment And Consolidation In CGT Production Capacity

For instance, Merck invested $109 million in viral vector and gene therapy manufacturing in April 2020. Moreover, 12% of industrial clinical pipeline products and at least 16% of preclinical pipeline products consist of CGT. Steady investment and consolidation in CGT production capacity led to an increase in production capacity and also contributed to the growth of the market.

Request for A Sample Of The Global Cell and Gene Therapy Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=3472&type=smp

Key Cell and Gene Therapy Market Trend – Launching Chimeric Antigen Receptor T-Cell Therapy

(CAR) T-cell therapy is a combination of cell and gene therapy in which T cells are collected from the patient’s blood and are genetically engineered to produce modified receptors at their surface, known as chimeric antigen receptors (CARs). These modified T cells have special structures (receptors) and are reinfused into the patient. Then, the modified receptors of T cells help in targeting the surface antigen of the cancer cell, ultimately resulting in the killing of tumor cells in patients. In 2020, the US-FDA approved Bristol-Myers Squibb’s two CAR-T cell therapies to treat lymphoma and multiple myeloma and is set to be launched. Currently, FDA-approved CAR-T cells therapy treatments like Tisagenlecleucel for the treatment of B-cell precursor acute lymphoblastic leukemia (ALL) in children and Axicabtageneciloleucel for the treatment of adult patients with relapsed or refractory large B-cell lymphoma.

Cell and Gene Therapy Market Segment

1) By Product: Cell Therapy, Gene Therapy

2) By Application: Oncology, Dermatology, Musculoskeletal, Other Applications

3) By End User: Hospitals, Ambulatory Surgical Centers, Cancer Care Centers, Wound Care Centers, Other End-Users

Cell and Gene Therapy Market Major Players and Strategies

Major players in the cell and gene therapy market are Gilead Sciences, Bristol-Myers Squibb, Novartis AG, Amgen, Merck, Organogenesis Holdings, Dendreon, Vericel, Bluebird Bio, and Fibrocell Science.

In December 2021, Novartis AG, a Switzerland-based pharmaceutical company specializing in the discovery, development, manufacturing, and commercialization of medicines, acquired Gyroscope Therapeutics Holdings plc for an amount of $800 million. Through this acquisition, GT005, an experimental, one-time gene therapy now in Phase 2 for the treatment of persons with geographic atrophy (GA), will be added to the Novartis portfolio, increasing gene therapy research capabilities and bringing ophthalmic innovation to treat and prevent blindness globally. Gyroscope Therapeutics Holdings plc is a UK-based clinical stage biopharmaceutical company pioneering in the research and development of gene therapies for the treatment of eye related diseases.

The Cell and Gene Therapy Global Market Report 2023 covers regional data on cell and gene therapy market size, cell and gene therapy market trends and drivers, opportunities, strategies, and cell and gene therapy market competitor analysis. The countries covered in the cell and gene therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Gene therapy involves the transmission of genetic material, typically in the form of a carrier or vector, and the uptake of the gene into the proper body cells. Cell therapy includes introducing cells into the patient with the appropriate function. Some procedures combine cell therapy with gene therapy.

View More Reports Related To The Cell and Gene Therapy Market –

Nucleic Acid Based Gene Therapy Global Market Report 2023

Cell Culture Consumables And Equipment Global Market Report 2023

Gene Therapy Global Market Report 2023

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: