A newly released Cell and Gene Therapy Clinical Trial Market analysis report by Future Market Insights shows that global sales of the Cell and Gene Therapy Clinical Trial Market in 2021 were held at USD 10.7 Billion. With a CAGR of 24.9% from 2022 to 2032, the market is projected to reach USD 119.3 Billion by 2032. Oncology is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 27.9% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Cell and Gene Therapy Clinical Trial Market (2022) | USD 13.1 Billion |
| Global Cell and Gene Therapy Clinical Trial Market (2032) | USD 119.3 Billion |
| Global Cell and Gene Therapy Clinical Trial Market CAGR (2022 to 2032) | 24.9% |
| The USA Cell and Gene Therapy Clinical Trial Market CAGR (2022 to 2032) | 23.7% |
| Key Companies Profiled | IQVIA Holdings Inc.; Medpace Holdings Inc.; Gilead Sciences; Dendreon; Vericel; Novartis; Amgen |
As per the Cell and Gene Therapy Clinical Trial Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2015 to 2021, the market value of the Cell and Gene Therapy Clinical Trial Market increased at around 21.9% CAGR.
Gene therapy is a revolutionary treatment method that includes inserting one or more corrected genes into patient cells that have been developed in the lab to repair disorders.
As an alternative therapy option or tailored medicine, CGT holds significant potential. Furthermore, as compared with small-molecule medicines, they have a higher success rate as cell and gene therapy is centered on the diagnosis of definite disease instead of macro-level like small-molecule treatment.
Cell and gene therapy is a promising treatment option for a variety of ailments, including cancer and rare genetic disorders. It exemplifies the life sciences industry's new wave of innovation. Even though just a few early medicines have received FDA clearance in the United States, there are numerous potential therapies under development around the world. Increasing funding, investments in research and development, and product launches are boosting market growth.
Other factors influencing gene therapy market growth include increased research spending, rising cancer incidence, speedier product approvals, and increased commercialization of cell and gene treatments.
The global market is being transformed by the development of efficient and selective gene targeting and delivery techniques, as well as the growing knowledge of disease path mechanisms. The most common indications are currently human cancers and monogenic disorders.
A rise in the number of genetic defects and cancers, as well as explicit gene modification techniques and greater financial support for gene therapy in clinical trials, are the key trends.
However, cell and gene therapy developers face challenges in several key areas, including enabling patient access, managing supply chain and manufacturing operations, and developing a healthcare provider network, as with any new and innovative disruptive technology. The high operational expenses associated with cell and gene therapy manufacturing, on the other
Cell treatment is centered on ailments at the cellular level, which includes the restoration of a specific cell population or using cells as therapeutic carriers. Gene therapy seeks to alter the course of numerous inherited and acquired issues at the genetic level. The global cell and gene therapy market is projected to grow due to the rising prevalence of cardiovascular diseases and the introduction of effective recommendations.
However, a number of development difficulties, including safety and efficacy concerns, lengthy clinical trial procedures, stringent regulatory environment, and high costs, are expected to limit cell and gene therapy acceptability, thus choking market expansion.
North America held the highest market of around 50% in 2021. Increased prevalence of chronic illnesses, surged investment in research and development activities, and active engagement and support from the government have been the prominent drivers of the gene therapy market.
Furthermore, in the United States, the regulatory approval procedure is improving and becoming more beneficial for CGT vendors. To speed up the approval process, the FDA has given CGTs orphan drug status, breakthrough designation, accelerated approvals, and RMAT designations.
High economic status and high healthcare spending drive the CGT market in North America. Sponsorship and financial funding for CGT products come mostly from National Health Institutes, companies, academic institutes, and hospitals.
Rising medical tourism, a greater emphasis on healthcare, the incidence of uncommon chronic illnesses, and increased research and development activities in East Asia and South Asia are projected to fuel demand for gene treatments throughout the forecast period.
The United States is expected to account for the largest market of USD 44.7 Billion by 2032. It holds a dominant position in the global cell and gene therapy market, owing to the high prevalence of genetic disorders.
Demand for cell and gene therapy is also expected to rise as research and development activities expand. Several novel cell and gene therapies are being developed for a variety of ailments, with the majority of them aimed at cancer and cardiovascular disease treatments. These medications either are in clinical development or are awaiting FDA approval.
The market in the UK is projected to reach USD 4 Billion by 2032. Growing at a CAGR of 24.3% from 2022 to 2032, the market in the country is expected to gross an absolute dollar opportunity of USD 3.5 Billion.
The market in Japan is expected to grow at a CAGR of 32.4% during the forecast period to reach a valuation of USD 7.4 Billion by 2032. From 2022 to 2032, the market is expected to gross an absolute dollar opportunity of USD 6.9 Billion.
The market in South Korea is expected to reach USD 2.8 Billion by 2032. The market is expected to grow with a CAGR of 25.8% from 2022 to 2032, with an absolute dollar opportunity of USD 2.5 Billion.
The market through Oncology indication is forecasted to grow at a CAGR of 27.9% from 2022 to 2032. Oncology has been a focus of considerable study for gene therapy processes and approaches. More than 60% of ongoing gene therapy clinical studies are aimed at cancer. Because of the significant frequency of cancer disorders, particularly in poor and middle-income nations, the category is projected to rise at a promising rate.
In addition, the success of CAR-T cell treatments in the treatment of hematological malignancies has paved the path for increased investment in CGTs in oncology. Biotech and pharmaceutical corporations are both investing in this method to treat various forms of cancer on a global scale.
Some of the key players in the cell and gene therapy market include IQVIA Holdings Inc., Medpace Holdings Inc., Gilead Sciences, Dendreon, Vericel, Novartis, and Amgen.
Some of the recent developments of key Cell and Gene Therapy Clinical Trial providers are as follows:
Similarly, recent developments related to companies' Cell and Gene Therapy Clinical Trial services have been tracked by the team at Future Market Insights, which are available in the full report.
The global market is worth more than USD 10.7 Billion at present.
The value of the Cell and Gene Therapy Clinical Trial Market is projected to increase at a CAGR of around 24.9% from 2022 to 2032.
The value of the Cell and Gene Therapy Clinical Trial Market increased at a CAGR of around 21.9% from 2015 to 2021.
The development of efficient and selective gene targeting and delivery techniques, as well as a better understanding of disease path mechanisms are bolstering the growth.
The market for Cell and Gene Therapy Clinical Trial Market in China is projected to expand at a CAGR of around 25.4% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 25.8%, the market in Japan is projected to register a CAGR of nearly 32.4% from 2022 to 2032.
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Cell and Gene Therapy Clinical Trial Market
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