Dublin, June 14, 2024 (GLOBE NEWSWIRE) -- The "Global Cell and Gene Therapy Manufacturing Market Analysis & Forecast 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global cell and gene therapy manufacturing realm is witnessing a period of unprecedented growth as advancements in medical research continue to unfold. The global market, valued at USD 9.23 billion in 2023, is forecasted to undergo a significant surge with a projected Compound Annual Growth Rate (CAGR) of 26.68% by 2034, potentially reaching USD 124.45 billion.
The major growth stimulants include the rise in advanced therapies, heightened prevalence of various diseases, such as cancer, and an increase in pharmaceutical R&D expenditure. Additionally, escalating partnerships between pharmaceutical corporations and Contract Development & Manufacturing Organizations (CDMOs) are bolstering the market expansion.
The analysis offers comprehensive insights into the current state and future prospects of the global cell and gene therapy manufacturing market. It is crucial for stakeholders and industry participants to understand the dynamics and growth patterns outlined in the report to strategically position themselves in this rapidly evolving marketplace. These findings are foundational for informed decision-making and long-term strategic planning within the cell and gene therapy manufacturing industry.
Advancements in Therapies
In the therapeutic landscape, cell therapy manufacturing emerged as the most lucrative segment in 2023 due to a growing number of introduced products and clinical trials focused on CAR-T and other cell-based treatments. Investment in these therapies by key market players further fortifies this trend. Meanwhile, gene therapy is anticipated to register the fastest growth rate in the forecast period, driven by numerous products in clinical trials and a surge in success rates.
Manufacturing Scales and Modes
The report unveils that pre-commercial/R&D scale manufacturing dominated the revenue share in 2023, a trend influenced by a rich pipeline of gene and cell therapies and strategic market maneuvers. On the frontier of modes of operation, contract manufacturing accounted for the highest revenue, while in-house manufacturing is predicted to experience rapid growth due to advances by academic institutions and significant capital injections from market leaders.
Expertise in Workflow
With regards to workflow within the industry, process development was the segment that garnered the highest revenue in 2023. This is attributed to an increasing number of therapies transitioning from clinical trials to regulatory approval, and the development of robust methods for cell therapy production. Vector development, vital for gene therapies, is projected to grow at a swift pace due to the rising demands for treatments of diverse disorders.
Geographical Outlook
In the regional market analysis, North America is anticipated to remain at the pinnacle of market revenue, propelled by substantial research initiatives and collaborations by industry giants. The Asia Pacific, currently emerging as a strong contender, is expected to exhibit the fastest regional CAGR due to the introduction of expedited approval processes, increased investments, and significant market expansion efforts.
Companies Featured
- F. Hoffmann-La Roche Ltd.
- Hitachi Chemical Co. Ltd.
- Thermo Fisher Scientific
- Wuxi Advanced Therapies
- Samsung Biologics
- Cellular Therapeutics
- Boehringer Ingelheim
- Bluebird Bio Inc.
- Miltenyi Biotec
- Takara Bio Inc.
- Catalent Inc.
- Merck KGaA
- Novartis AG
- Lonza
For more information about this report visit https://www.researchandmarkets.com/r/w2fanv
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