The Cell and Gene Therapy Market to Reach Revenues of Over $6.6 billion by 2024 - Market Research by Arizton
CHICAGO, Nov. 13, 2019 /PRNewswire/ -- According to Arizton's recent research report, Cell and Gene Therapy Market - Global Outlook and Forecast 2019-2024 is expected to grow at a CAGR of more than 24% during the forecast period.
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Key Highlights Offered in the Report:
1. Cell and gene therapies find their increased use in treating incurable
disease conditions, providing safe and efficacious treatment compared to
small molecule drugs and monoclonal antibodies. The market is likely to
witness an absolute growth of around 270% during the forecast period.
2. The increasing demand of cell and gene therapies for treating oncologic
conditions like hematological malignancies and prostate cancer is
expected to contribute to an incremental growth of close to $4billion
during the forecast period.
3. The market is expected to witness about 10-20 new product approvals every
year till 2025.
4. The US is the major revenue contributor as well as the fastest-growing
region and is expected to post an absolute growth of 354% by 2024.
5. Companies are investing heavily in clinical trials. Recently, many
innovative and breakthrough cell and gene therapy products have entered
the early stage of clinical development. The US FDA is anticipating more
than 200 IND applications for cell & gene therapy products in next few
years.
6. Private equity and venture capitalists are backing up many pharma &
biotechnology start-ups companies that have promising investigational
cell and gene therapy products targeting oncology, neurological
disorders, and CVDs and are funding their R&D activities.
7. Key vendors and pharma giants have placed cell and gene therapy in their
strategic area of growth. This is evident from their recent M&As and
collaborative partnerships with early-stage drug development companies
engaged in the development of cell & gene therapy products.
8. CAR T-cell therapy has gained significant traction in recent years.
Yescarta and Kymriah CAR T-cell therapy products generated a revenue of
around $340 million in FY2018. As of 2018, more than 90 CAR T-cell
therapies were under investigation in more than 100 clinical trials
worldwide.
Key Offerings:
-- Market Size & Forecast by Revenue | 2018-2024
-- Market Dynamics - Leading trends, growth drivers, restraints, and
investment opportunities
-- Market Segmentation - A detailed analysis by product, application,
end-user, and geography.
-- Competitive Landscape - Profile of 8 key vendors and 23 other vendors.
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Cell and Gene Therapy Market - Segmentation
-- The global cell therapy market is growing at a steady rate, and this
trend is expected to continue during the forecast period due to the
increased patient base with a wide range of diseases/ailments.
-- The use of cell and gene therapy in dermatological conditions is
increasing at a steady rate. This segment owns its growth to the
increasing incidence and prevalence rate of several types of wounds,
which are difficult to treat under normal conditions.
-- Hospitals are the leading end-users of cell and gene therapy products.
The hospital segment is growing mainly due to the increasing
incidence/prevalence of chronic diseases such as cancer, cardiovascular
diseases, diabetes, and chronic wound on account of diabetes feet,
pressure ulcers, and other injuries
Market Segmentation by Products
-- Cell Therapy
-- Gene Therapy
Market Segmentation by Distribution Channel Type
-- Oncology
-- Dermatology
-- Musculoskeletal
-- Others
Market Segmentation by End-users
-- Hospitals
-- Wound Care Centers
-- Cancer Care Centers
-- Ambulatory Surgical Centers
-- Others
Cell and Gene Therapy Market - Dynamics
CAR T-cell therapy has gained significant traction in recent years. It is the single most rapidly growing type of product in the market that generates revenue at a phenomenal rate. At present, it is the fastest advancing technology in cancer treatment and has the capability to replace many existing therapies. CAR T-cell therapy addresses current challenges in cancer care through superior efficacy, safety, and delivery mechanisms. CAR T-cell therapy has brought itself into focus due to the personalized nature of this therapy and the utilization of advanced genetic engineering technology. The wide acceptance and use of CAR T-cell therapy is fueling the growth of the global cell and gene therapy market.
Key Drivers and Trends fueling Market Growth:
-- Increased Pool of Patients with Various Diseases
-- Favorable Regulatory Support and Special Designations for Cell and Gene
Therapy Products
-- Robust Cell and Gene Therapy Pipeline Products
-- Increasing Funding for Cell and Gene Therapy R&D Activities
Cell and Gene Therapy Market-Geography
The US dominates the cell and gene therapy market in North America due to the high prevalence of chronic diseases and other conditions. There is also comparably high utilization and wide accessibility of these therapies. In Europe, cell and gene therapy products are considered to be part of the Advanced Therapy Medicinal Products (ATMPs), which are commonly known as regenerative medicine globally. The major factors leading to the growth in APAC region are the growing prevalence of cancers, osteoarthritis, burns, and other chronic wounds, the introduction of advanced products in Japan, advanced R&D activities in countries such as South Korea, India.
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Market Segmentation by Geography
-- North America
-- US
-- Canada
-- APAC
-- Japan
-- China
-- South Korea
-- Australia
-- Europe
-- Germany
-- France
-- UK
-- Spain
-- Italy
-- Latin America
-- Brazil
-- Mexico
-- MEA
-- Turkey
-- Saudi Arabia
-- UAE
Major Vendors
-- Gilead Sciences
-- Spark Therapeutics
-- Novartis AG
-- Organogenesis
-- Amgen
-- Osiris Therapeutics
-- Dendreon
-- Vericel
Other vendors include - Anterogen, Tego Sciences, Japan Tissue Engineering, JCR Pharmaceuticals, Medipost, MolMed, AVITA Medical, CollPlant, Corestem, Biosolution, Stempeutics Research, Orchard Therapeutics, Takeda Pharmaceutical Company, CHIESI Farmaceutici, CO.DON, AnGes, GC Pharma, JW CreaGene, APAC Biotech, Nipro Corp., Terumo, Orthocell, and bluebird bio.
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