by Cell and gene therapies have emerged as promising therapeutic solutions for various incurable and life-threatening diseases like cancer, genetic disorders, and certain types of blindness and heart conditions. These advanced therapies work by modifying cells, genes, or tissues in the human body to cure or manage diseases. These include genetically modified cell therapies that introduce new genes into patients’ cells to fight diseases, gene therapies that supply healthy copies of defective genes, and cell therapies involving stem cells, immune cells, or other types of human cells to replace or regene rate diseased cells. Cancer, genetic disorders, and cardiovascular diseases represent major applications of cell and gene therapies. According to the latest cancer statistics, there were over 18 million new cancer cases reported globally in 2020. Due to the increasing prevalence of various cancers and genetic disorders worldwide, the demand for effective therapeutic options like cell and gene therapies is surging significantly. Additionally, rising investments in R&D activities by biotech companies, collaborations between industry and academia, and ongoing clinical trials demonstrating positive outcomes are further fueling the growth of this innovative therapeutic sector.
The global Cell and Gene Therapy Market is estimated to be valued at US$ 4.4 billion in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the cell and gene therapy market is the significant number of clinical trials evaluating these therapies. Over 6,000 clinical trials related to cell and gene therapies have been conducted globally between 2000 to 2020. Out of these, over 3,000 trials were initiated since 2015, indicating rapid growth. Moreover, over 1,650 cell and gene therapy clinical trials were ongoing as of 2020 across various disease areas like oncology, cardiovascular diseases, genetic disorders, musculoskeletal disorders, and ophthalmology. The positive clinical outcomes demonstrated by FDA-approved cell and gene therapies like Kymriah, Yescarta, Luxturna, and Zolgensma have further accelerated R&D activities. This substantial clinical research acts as a major driver for the ongoing transformation of these therapies into mainstream medicine over the coming decade.
Porter’s Analysis
Threat of new entrants: The cell and gene therapy market has high capital requirements for R&D and clinical trials, which poses moderate threat to new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to existence of many competitors and lack of product differentiation.
Bargaining power of suppliers: Suppliers have high bargaining power due to specialized expertise and resources required for research.
Threat of new substitutes: Threat of new substitutes is low as cell and gene therapy is a niche and innovative area of treatment.
Competitive rivalry: The market experiences high competitive rivalry among established players to gain higher market share.
Key Takeaways
The Global Cell And Gene Therapy Market Size is expected to witness high growth over the forecast period. The increasing incidence of cancer and other chronic diseases is expected to drive the demand for cell and gene therapy.
Regional analysis:
North America currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to growing research support and funding in the U.S. and Canada. Asia Pacific is expected to witness the fastest growth rate over the forecast period due to growing healthcare expenditure and increasing investment in research activities.
Key players:
Key players operating in the cell and gene therapy market are Novartis AG, Gilead Sciences, Inc., Juno Therapeutics, Bluebird Bio, Inc., Adaptimmune Therapeutics plc, GlaxoSmithKline, Merck, Celgene Corporation, Shanghai Sunway Biotech Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
