Cell and gene therapy involves modifying cells or tissues to diagnose, treat or prevent disease. It includes the use of genes, cells or cellular components to cure disease. For instance, researchers use gene therapy to correct faulty genes that cause genetic disorders, and replace them with healthy copies of the genes. Cancer immunotherapies provide new treatment options for cancer patients. CAR T-cell therapy is an example where a patient's own T cells are removed from their body, genetically modified to identify and attack cancer cells, and then returned to the body to fight cancer.

The global cell and gene therapy market is estimated to be valued at US$ 18.29 Bn or in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The Global Cell And Gene Therapy Market Size is expected to exhibit high growth owing to increased investment in R&D activities. Increased funding from various public as well as private organizations to support research activities is boosting the development of advanced cell and gene therapies. For instance, in January 2022, Regeneron Pharmaceuticals, Inc. announced expansion plans for its cell and gene therapy manufacturing capabilities with a planned US$ 900 million investment in upstream process development laboratories and media suites in New York. Additionally, rising prevalence of cancer and other chronic diseases is further fueling the demand for advanced treatment options like cell and gene therapy. According to the World Health Organization (WHO), cancer is the second leading cause of death globally and accounted for nearly 10 million deaths in 2020. Technological advancements in genome editing tools like CRISPR-Cas9 are also accelerating the development of newer cell and gene therapies with more targeted therapeutic benefits for various diseases.

SWOT Analysis

Strength: Cell and gene therapy market has high potential growth opportunities. Increased funding from public and private organizations for research and development of advanced cell and gene therapies is fueling market growth. Growing prevalence of cancer and other chronic diseases worldwide is driving demand for cell and gene therapies.
Weakness: High costs associated with cell and gene therapies is a major challenge limiting widespread adoption. Significant regulatory hurdles and lengthy approval timelines for new cell and gene therapies poses difficulties. Lack of skilled professionals for advanced therapies also restrain market expansion.
Opportunity: Growing geriatric population susceptible to chronic diseases in major markets presents opportunties. Emerging economies in Asia Pacific offer scope for market penetration.Continued technological advancements to develop more targeted and personalized therapies will support market revenues.
Threats: Ethical concerns regarding uses of stem cells and gene editing can negatively impact market sentiments. Stringent regulations delay market access of novel therapies. Safety issues and adverse events from initial therapies can undermine future demand. Intense competition amongst existing and new market players can influence pricing dynamics.

Key Takeaways

The global cell and gene therapy market is expected to witness high growth over the forecast period of 2023 to 2030 supported by technological advances. The market size for 2023 is estimated at US$ 18.29 Bn and projected to expand at a CAGR of 19% through 2030.

Regional analysis:

North America currently dominates the global cell and gene therapy market and is forecast to maintain lead through 2030 supported by rising healthcare spending and presence of major market players. Asia Pacific is projected as the fastest growing regional market driven by improving healthcare infrastructure, rising medical tourism, and increasing burden of chronic diseases.

Key players: Key players operating in the cell and gene therapy market include Johnson & Johnson, Medtronic, Stryker Corporation, Zimmer Biomet, Smith & Nephew, NuVasive, Globus Medical, Wright Medical Group, Arthrex, DJO Global, Össur, CONMED Corporation, Breg, Orthofix Medical and Bioventus. Companies are focusing on strategic collaborations and new product launches to solidify market presence.

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