The global cell and gene therapy market size is expected to grow from $6.58 billion in 2021 to $8.57 billion in 2022 at a compound annual growth rate (CAGR) of 30.2%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The gene and cell therapy market is expected to reach $21.33 billion in 2026 at a CAGR of 25.6%.
What is the Global Cell And Gene Therapy Market?
The cell and gene therapy market consist of sales of cell and gene therapies by entities (organizations, sole traders and partnerships) that develop cell and gene therapies. Cell therapy refers to the transfer of intact, live cells that are originated from autologous or allogenic sources and gene therapy refers to the introduction, removal, or change in the genome for treating diseases. The market consists of revenue generated by the companies developing cell and gene therapy products by the sales of these products.
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What drives the Global Cell And Gene Therapy Market?
Steady investment and consolidation in cell and gene therapies contributed to the growth of the cell and gene therapy (CGT) market. After recognizing the potential of the CGT market, 16 out of the 20 largest biopharma companies by revenue, added CGT products to their portfolio. 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.
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Global Cell And Gene Therapy Market Segments
The global cell and gene therapy market is segmented:
By Product: Cell Therapy, Gene Therapy
By Application: Oncology, Dermatology, Musculoskeletal, Others
By End-User: Hospitals, Ambulatory Surgical Centers, Cancer Care Centers, Wound Care Centers, Others
By Geography: The regions covered in the cell and gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Cell And Gene Therapy Global Market Report 2022provides market size and growth forecasts for the global cell and gene therapy market, global cell and gene therapy market share, cell and gene therapy market segments and geographies, cell and gene therapy market competitive landscape including leading competitors’ revenues, profiles and market shares. The cell and gene therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Cell And Gene Therapy Industry Playersinclude Gilead Sciences, Bristol-Myers Squibb, Novartis AG, Amgen, Merck, Organogenesis Holdings, Dendreon, Vericel, Bluebird Bio, and Fibrocell Science. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
