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2024-2033 Cell and Gene Therapy Market: What Growth Rate is Predicted?

In the past few years, the size of the cell & gene therapy market has seen massive growth. Expected to expand from $13.81 billion in 2023 to $17.31 billion in 2024, the market is seeing a compound annual growth rate (CAGR) of 25.3%. The superior growth during the historic period is linked to an upswing in investments in cell and gene therapies, a surge in research and development activity, progress in the discovery of cancer drugs, a rise in collaborations between the public and private sectors, sturdy economic progression in developing markets, heightened healthcare expenditure, and an escalation in spending on pharmaceutical R & D.

The market size of cell & gene therapy is predicted to undergo exponential expansion in the forthcoming years, with a projected growth to $39.74 billion in 2028. This amounts to a compound annual growth rate (CAGR) of 23.1%. The anticipated surge in the forecast period could be a result of rising instances of cancer and chronic diseases, an increasing elderly population, an intensified focus on cell and gene therapy, and escalating healthcare expenditure. The forecast period will likely see predominant trends including an emphasis on sophisticated therapies such as chimeric antigen receptor (car) t-cell therapy, a focus on initiating various research activities and securing funding, strategic alliances to incorporate cutting-edge technologies, dedication to the advancement of gene/genome editing tools, particularly crispr, acquisitions or partnerships with rival companies, an augmentation in the number of pipeline research to develop cell and gene therapies, and investments in the expansion of manufacturing facilities.

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What Aspects Are Driving the Expansion of the cell and gene therapy Market?

The continuous support and amalgamation in cell and gene therapies have played a pivotal role in the cell and gene therapy (CGT) market’s expansion. The CGT market’s scope inspired 16 out of the most significant 20 biopharmaceutical revenue-makers to incorporate CGT products into their range. For instance, Pfizer made an investment of $68.5 million in a new high-tech facility in Durham, North Carolina in December 2021, to push the boundaries of gene therapy capabilities forward. This facility broadens Pfizer’s gene therapy capabilities from end to end and adds to the company’s existing presence in North Carolina, already a workplace for over 3,600 Pfizer employees. Consistent financial support and merging in CGT production capacity subsequently led to an augmentation in production capacity, thereby giving the market a boost.

What Are the Significant Segments of the Cell and Gene Therapy Market?

1) By Product: Cell Therapy, Gene Therapy

2) By Application: Oncology, Neurological Disorders, Other Applications

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

What Trends Are Influencing the Evolution of the Cell and Gene Therapy Market?

The cell and gene therapy (CGT) market is being significantly influenced by Chimeric Antigen Receptor (CAR) T-cell therapy. This therapy involves the collection and genetic modification of a patient’s T cells to create what are called chimeric antigen receptors (CARs) on their surface. These adjusted T cells have unique receptor structures and are returned into the patient’s body where their altered receptors play a crucial role in identifying the surface antigen of cancer cells, ultimately leading to the destruction of the patient’s tumor cells. For example, in June 2022, the US FDA approved the use of CAR T-cell therapy Breyanzi, developed by the US pharmaceutical company Bristol-Myers Squibb Company, in the treatment of adult patients suffering from large B-cell lymphoma (LBCL), including diffuse large B-cell lymphoma. Breyanzi, a distinct CAR T cell therapy, utilizes a patient’s own T cells which are harvested and genetically transformed into CAR T cells, and then reintroduced to the patient’s body as a one-time treatment via infusion.

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Which Geographic Areas Are Influencing the Growth of the Cell and Gene Therapy Market?

North America was the largest region in the cell and gene therapy market in 2023. The regions covered in the cell and gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Cell and Gene Therapy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the cell and gene therapy market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Cell and Gene Therapy Market Include

1. Cell and Gene Therapy Market Executive Summary

2. Cell and Gene Therapy Market Segments

3. Cell and Gene Therapy Market Size And Template Market Growth Rate

4. Key Cell and Gene Therapy Market Trends

5. Major Cell and Gene Therapy Market Drivers

……

25. Key Mergers And Acquisitions In The Cell and Gene Therapy Market

26. Top Cell and Gene Therapy Companies

27. Cell and Gene Therapy Market Opportunities And Strategies

28. Cell and Gene Therapy Market, Conclusions And Recommendations

29. Appendix

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