Cell And Gene Therapy Manufacturing Market To Deliver Prominent Growth & Striking Opportunities to 2028

Posted on 2022-08-22 by researchinsights in Internet & Online // 0 Comments

Cell And Gene Therapy Manufacturing Industry Overview

The global cell and gene therapy manufacturing market size was valued at USD 13.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 20.3% from 2021 to 2028. The emergence of advanced therapies has played a major role in reshaping the biopharmaceutical industry as well as transformed the treatment paradigm of several life-threatening and rare diseases. The exponential growth of the advanced therapy landscape is a key driving factor for the growth of the market.

Gather more insights about the market drivers, restrains and growth of the Global Cell And Gene Therapy Manufacturing Market

The ongoing COVID-19 pandemic has positively influenced the market for cell and gene therapy manufacturing. Several entities expanded their production capabilities for vector production as well as signed strategic agreements to produce investigational therapies. This is to address the urgent need for effective therapies as well as a vaccine against the infection. For instance, in March 2021, Tevogen Bio collaborated with BioCentriq to produce Tevogen’s investigational COVID-19 T-Cell Therapy. Currently, this therapy is under review by the U.S. FDA.

Over the past few years, the healthcare industry is witnessing an improved ratio of clinical success to the number of clinical trials of cellular and gene-modified therapy products. This can be attributed to the better scientific and clinical understanding of safety risks related to the application of these products. The number of phase III clinical trials has reached 362 in early 2020 and is expected to increase significantly in the coming years.

The expanding cell and gene therapies arena has triggered several strategic alliances and the entry of several new players in this market. A substantial number of companies are collaborating with contract manufacturers to produce their drug candidates. Furthermore, CMOs/CDMOs continue to expand their manufacturing capabilities to meet the rising demand for services. For instance, in May 2020, Thermo Fisher Scientific invested a significant amount of USD 180 Million for the expansion of its viral vector production capacity twofold.

Browse through Grand View Research’s Biotechnology Industry Research Reports

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Cell And Gene Therapy Manufacturing Market Segmentation

Grand View Research has segmented the global cell and gene therapy manufacturing market on the basis of therapy type, scale, mode, workflow, and region:

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