Global Cell & Gene Therapy Manufacturing Services Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Cell & Gene Therapy Manufacturing Services Market from 2024 to 2033?
The market size for manufacturing services in cell and gene therapy has seen a swift expansion in the past few years. It is expected to increase from $7.25 billion in 2023 to $8.55 billion in 2024 with a compound annual growth rate (CAGR) of 17.8%. Factors such as amplified research and development investments, regulatory assistance and structures, a growing pipeline of cell & gene therapies, collaborations and partnerships within the industry, as well as a rising global demand for personalized medicine are contributing to the growth observed during the historical period.
The market size of cell & gene therapy manufacturing services is anticipated to witness accelerated growth in the upcoming years, rising to $15.77 billion in 2028 with a compound annual growth rate (CAGR) of 16.6%. This forecasted growth can be credited to different factors such as market maturity and commercialization, worldwide expansion of biopharmaceutical manufacturing, rising trend of outsourcing by pharmaceutical firms, advancements in automation and robotics, and the development of new therapeutic modalities. The key trends to watch during the forecasted period are the growing demand for energy efficiency, cutting-edge materials, technologies, compact and modular designs, transportation electrification, and a constant focus on safety and reliability.
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What Factors Are Encouraging Growth in the cell & gene therapy manufacturing services Market?
The escalating prevalence of cancer and various targeted illnesses is anticipated to drive the trajectory of the cell and gene therapy manufacturing services market in the future. Cancer is a critical condition that causes the cells in one’s body to multiply rapidly and unrestrained, leading to irregular growth. Cell and gene therapies are emerging as hopeful new approaches against the increasing prevalence of cancer, thereby stimulating the need for innovative and effective treatment choices. For example, the American Cancer Society, a nonprofit organization which advocates for cancer in the US, reported in January 2023 that the number of cancer instances escalated from 1,898,160 in 2021 to 1,958,310 in 2023, demonstrating a growth rate of 3.16%. Hence, the rising prevalence of cancer and other target diseases is pushing the expansion of the cell and gene therapy manufacturing services market forward.
Which Segments Play a Vital Role in the Cell & Gene Therapy Manufacturing Services Market?
1) By Type: Gene Therapy, Cell Therapy
2) By Indication: Central Nervous System Disorders, Ophthalmology Diseases, Cardiovascular Diseases, Infectious Diseases, Orthopedic Diseases, Oncology Diseases
3) By Application: Commercial Manufacturing, Clinical Manufacturing
4) By End-user: Academic And Research Institutes, Pharmaceutical And Biotechnology Companies, Other End-Users
What Trends Are Driving Change in the Cell & Gene Therapy Manufacturing Services Market?
The growth in technological innovations is a primary trend emerging in the cell and gene therapy manufacturing services industry. Key industrial players are embracing new technological trends to maintain their competitiveness. A case in point is Charles River Laboratories International Inc., a U.S.-based pharmaceutical firm proficient in various preclinical and clinical labs as well as gene and cell therapy amenities, which launched the navigation Vector Platform (navigation) in October 2022. This platform streamlines the way to GMP Adeno-Associated Virus (AAV) vector production without the need for extensive process development. It can shorten a program’s timeline to GMP by 55% for viral vector gene therapy investigators in comparison to conventional manufacturing processes. The distinct approach of Charles River’s navigation relies on a high-yield HEK293 suspension cell line that can be expanded and serotyped to fulfil client requirements.
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What Regions Are Contributing Significantly to the Growth of the Cell & Gene Therapy Manufacturing Services Market?
North America was the largest region in the cell and gene therapy manufacturing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global cell & gene therapy manufacturing services market report forecast period. The regions covered in the cell & gene therapy manufacturing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Cell & Gene Therapy Manufacturing Services 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 & gene therapy manufacturing services market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Cell & Gene Therapy Manufacturing Services Market Include
1. Cell & Gene Therapy Manufacturing Services Market Executive Summary
2. Cell & Gene Therapy Manufacturing Services Market Segments
3. Cell & Gene Therapy Manufacturing Services Market Size And Template Market Growth Rate
4. Key Cell & Gene Therapy Manufacturing Services Market Trends
5. Major Cell & Gene Therapy Manufacturing Services Market Drivers
……
25. Key Mergers And Acquisitions In The Cell & Gene Therapy Manufacturing Services Market
26. Top Cell & Gene Therapy Manufacturing Services Companies
27. Cell & Gene Therapy Manufacturing Services Market Opportunities And Strategies
28. Cell & Gene Therapy Manufacturing Services Market, Conclusions And Recommendations
29. Appendix
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