Global Cell and Gene Therapy Market to Reach US$ 43.0 Billion by 2028, Stimulated by Significant Growth in Biotechnology Field

According to the latest report by IMARC Group, titled “Cell and Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global cell and gene therapy market size reached US$ 15.9 Billion in 2022. Cell and gene therapy is a revolutionary branch of medical science, engineered to treat, prevent, and potentially eradicate genetic diseases and various types of cancers. It revolves around modifying or manipulating the cells and genes in the human body to fight or manage diseases. It involves the administration of living whole cells into a patient for the treatment of a disease, whereas gene therapy seeks to alter or replace genes to treat or prevent disease. This therapy is used to treat conditions where conventional treatments and medicines are not very effective. Currently, cell and gene therapies are at the forefront of medical research, with numerous trials being conducted worldwide to explore their therapeutic potential in a wide array of disease categories.

Global Cell and Gene Therapy Market Trends:

The global cell and gene therapy market is presently witnessing a significant growth, driven by the increasing prevalence of cancer and genetic diseases, which intensifies the demand for more effective treatments. This, coupled with the growing understanding and awareness about the potential of these therapies in addressing, such conditions, is propelling the market. Additionally, the ongoing advancements in biotechnology and molecular biology, which have led to more efficient and safer therapeutic techniques, are adding impetus to the market expansion. Additionally, the incorporation of artificial intelligence and machine learning in the development and delivery of these therapies is another notable trend fueling the market growth. Moreover, the rise in investments by pharmaceutical and biotechnological firms, driven by encouraging clinical trial results and increasing regulatory approvals, is significantly supporting the demand. Apart from this, the growing emphasis on personalized medicine, with cell and gene therapies playing a key role, which is contributing to the market. Furthermore, the advent of CRISPR technology for gene editing and next-generation sequencing techniques is creating a positive market outlook. Looking forward, the market value is projected to reach US$ Looking forward, the market value is projected to reach US$ 43.0 Billion by 2028, expanding at a CAGR of 17.4% during 2023-2028.

Market Summary:

• Based on the therapy type, the market has been segmented into cell therapy (stem cell [pluripotent, cancer, and adult stem cells]), non-stem cell [t cells, natural killer, and others]), and gene therapy.
• On the basis of the indication, the market has been divided into cardiovascular disease, oncology disease, genetic disorder, infectious disease, neurological disorder, and others. Among these, oncology disorder accounts for the largest market share.
• Based on the delivery mode, the market has been segregated into in-vivo and ex-vivo.
• On the basis of the end user, the market has been segmented into hospitals, cancer care centers, pharmaceutical & biotechnology companies, and others. Presently, hospitals exhibit a clear dominance.
• Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. Currently, North America holds the leading position in the market.
• The competitive landscape of the market has also been examined, with some of the key players being Amgen Inc., Biogen, Bluebird bio, Inc., Bristol-Myers Squibb, Gilead Science, Kolon TissueGene Inc., Orchard Therapeutics plc., Pfizer Inc, Renova Therapeutics, and Spark Therapeutics, Inc.

Report Scope:

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