Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global Cell and Gene Therapy Clinical Trials Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global cell and gene therapy clinical trials market accounted for USD 9.45 billion in 2023 and is expected to reach at USD 43.17 billion by 2034 with a CAGR of 14.81% during the forecast period 2024-2034.
The rise in funding for research & development, heightened patient interest in new treatments, particularly in the realm of cell & gene therapies for cancer, favorable regulatory conditions, increasing prevalence of chronic diseases & rare genetic conditions, surge in both the approval of innovative therapies, and growing number of clinical trials in this field are some of the key factors boosting the market growth.
By therapy type, cell therapy was the highest revenue-grossing segment in the global cell and gene therapy clinical trials market in 2023 owing to the rising advancements in cell therapy methods, significant investments from key industry players & successful outcomes observed in clinical trials. Additionally, gene therapy is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of chronic diseases and increasing approvals of novel therapies.
By phase, phase II was the highest revenue-grossing segment in the global cell and gene therapy clinical trials market in 2023 owing to the increased spending on research & development, along with the intricacies involved in conducting phase II clinical trials, rise in the number of such trials. Additionally, phase I is predicted to grow at the fastest CAGR during the forecast period owing to the progression of successful drugs from preclinical stages to First-in-Human clinical trials. While phase I and phase II trials continue to dominate in the realm of cell and gene therapy, there is a slight uptick in the proportion of trials now entering phase III and phase IV.
By indication, oncology was the highest revenue-grossing segment in the global cell and gene therapy clinical trials market in 2023 owing to the growing occurrence of cancer, heightened investments in cancer research, and surge in collaborations among industry stakeholders. Additionally, cardiology is predicted to grow at the fastest CAGR during the forecast period owing to the surge in prevalence of cardiovascular diseases and rising development of novel therapies.
North America is anticipated for the highest revenue share during the forecast period owing to the supportive legal environment, increase in the quantity of research institutions, robust regulatory structure for executing clinical trials, and rising number of innovative therapies being introduced. Additionally, Asia Pacific is predicted to grow at fastest CAGR during the forecast period owing to the rise in clinical studies involving cell & gene therapy (CGT), a large patient pool, increasing number of centers focused on cell research & therapy, growing presence of biotechnology companies, and surge in regulatory approvals.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Therapy Type, Phase, and Indication
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of Top 10+ Major Market Players
Global Cell and Gene Therapy Clinical Trials Market Segmentation, by:
- Therapy Type:
- Gene Therapy
- Cell Therapy
- Phase:
- Phase I
- Phase II
- Phase III
- Phase IV
- Indication:
- CNS
- Oncology
- Cardiology
- Hematology
- Dermatology
- Ophthalmology
- Musculoskeletal
- Gastroenterology
- Infectious Diseases
- Immunology & Inflammation
- Endocrine, Metabolic, Genetic
- Others
- Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Companies Featured:
- Charles River Laboratories International Inc.
- Laboratory Corporation of America Holdings
- PAREXEL International Corp.
- Medpace Holdings Inc.
- Syneos Health
- Veristat LLC
- Novotech
- ICON PLC
- PPD Inc.
- IQVIA
For more information about this report visit https://www.researchandmarkets.com/r/7sd974
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