The global cell gene therapy manufacturing market size was USD 7 Billion in 2022 and is expected to register a revenue CAGR of 26% during the forecast period.
Increasing prevalence of chronic diseases, which has resulted in rising demand for personalized medication, is the major factor driving market revenue growth. Also, the development of technology for gene editing and cell treatment is driving revenue growth of the market.
The desire to cure various genetic illnesses such as cancer, sickle cell anemia, and human Immunodeficiency Virus (HIV) is the main driver of increasing demand for gene therapy and cell therapy. In order to fix the genetic abnormalities that cause the disease, these innovative medicines are being developed using gene-editing technology. The production of cell gene therapy has increased as a result of rapid advancement of these gene-editing tools and their potential to treat previously incurable diseases.
Moreover, pharmaceutical companies' rising investment in the creation of novel cell and gene therapies is a major factor driving revenue growth of the market. In order to meet unmet medical requirements, these businesses are concentrating on research and development and bringing new goods to market. Governments all over the world are also providing financial assistance for the creation of these innovative treatments, which is driving revenue growth of the cell gene therapy manufacturing market.
Further, increasing senior population, which is more vulnerable to chronic diseases, has created high demand for cell and gene therapies. Demand for customized medicine is a major factor driving revenue growth of the market since it makes it possible to treat patients according to their genetic composition. A notable development in the medical field is the individualized approach to treatment, which has greatly aided the expansion of the cell gene therapy manufacturing industry.
Moreover, manufacture of cell and gene therapies has benefited from rising adoption of automation, which has increased productivity and decreased production costs. Automation has made it possible to produce large-scale medicines, which was not previously conceivable. Cell and gene therapies are now being produced at a higher rate due to developments in bioreactor design and other manufacturing methods.
However, high cost of treatments and strict regulatory environment are major factors, which could restrain revenue growth of the market. Cell and gene therapies are only available to a small portion of the population due to high expense of their development and production. Also, the complicated and strict regulatory environment for cell and gene therapies has made it challenging for businesses to gain approval for their products.
Some of the major companies operating in the global cell gene therapy manufacturing market are:
Cell Gene Therapy Manufacturing Market Segmentations:
|Product Type Outlook||Application Outlook||Regional Outlook|
Rare Genetic Diseases
Middle East & Africa