May 25, 2024
Cell and Gene Therapy Market

Cell And Gene Therapy Market is expected to be Flourished by Higher Treatment Success Rates

Cell and gene therapies involve modifying cells or genes within the body to fight diseases. These therapies are being explored to treat various medical conditions such as cancer, cardiovascular diseases, neurological disorders, and infectious diseases. Cell therapy utilizes stem cells, immune cells, and genetically modified cells to replace or repair damaged cells. Gene therapy aims to introduce new genes into cells to fight or prevent disease.

The global Cell And Gene Therapy Market is estimated to be valued at US$ 21.08 million in 2024 and is expected to exhibit a CAGR of 19.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The cell and gene therapy market is expected to experience strong growth primarily due to two key drivers – higher treatment success rates and increasing adoption of latest technologies. Cell and gene therapies are known to yield higher success rates compared to conventional treatments as they directly target the cause of diseases at the cellular and genetic level. For example, clinical trials of CAR T-cell therapy have shown durable response rates of over 80% in certain types of blood cancers. The superior outcomes have boosted the preference for these therapies among patients and healthcare payers. Meanwhile, ongoing advancements in gene editing technologies such as CRISPR are helping address challenges related to delivery, safety and efficacy of therapies. Several companies are developing therapies using CRISPR and other techniques to treat genetic conditions. As the technologies mature, their adoption is likely to accelerate thereby fuelling market expansion over the forecast period.

Segment Analysis

The global cell and gene therapy market can be segmented based on vector type, therapy area, end user and region. Based on vector type, the market is segmented into retroviral vectors, lentiviral vectors, adenoviral vectors and others. The lentiviral vectors segment dominates the market owing to lentivirus being able to infect non-dividing cells and provide long term transgene expression.

PEST Analysis

Political: Governments across the world are supporting cell and gene therapy research through funding. Stringent regulations are in place to ensure patient safety.

Economic: High treatment cost pose challenges for widespread adoption. However increasing R&D investments from pharma companies are driving market growth.

Social: Increasing prevalence of cancer and other genetic disorders are creating demand for innovative treatment options like cell and gene therapy. However, social acceptance of new gene editing techniques needs to improve.

Technological: Advancements in vector engineering, stem cell biology and gene editing tools are expanding applications and commercialization of cell and gene therapies. Development of non-viral vectors also presents opportunities.

Key Takeaways

The Global Cell And Gene Therapy Market Size is expected to witness high growth over the forecast period. The global Cell And Gene Therapy Market is estimated to be valued at US$ 21.08 million in 2024 and is expected to exhibit a CAGR of 19.4% over the forecast period 2024 to 2031.

The North America region currently dominates due to presence of major players and availability of funding. North America dominates the global cell and gene therapy market owing to presence of major players, government funding and rising adoption. However, Asia Pacific region is expected to witness fastest growth during the forecast period attributed to increasing healthcare investments, rising awareness and presence of contract service providers.

Key players operating in the cell and gene therapy market are Tadano Ltd, Liebherr Group, Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd, Sany Heavy Industry Co. Ltd, Zoomlion Heavy Industry Science and Technology Co., Kobelco Construction Machinery Co., Ltd, Manitowoc Cranes, Link-Belt Cranes, Kato Works Co. Ltd, Palfinger AG, Manitex International, Sichuan Changjiang Electric Co. Ltd, Altec Inc., Elliott Equipment Company, Tadano Faun GmbH, Broderson Manufacturing Corp., and SENNEBOGEN Maschinenfabrik GmbH.

The cancer segment accounts for the largest share of end users owing to the rising incidences of hematologic malignancies and solid tumors globally. The key players are focusing on new product launches and collaborations to expand their market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it