Future Market Insights (FMI) has released its latest forecast for the global cell and gene therapy manufacturing market, and the outlook is exceptionally promising. According to the report, the global market is expected to experience a staggering Compound Annual Growth Rate (CAGR) of 29% from 2023 to 2033. This robust growth projection highlights the market’s dynamic expansion, which saw significant progress in 2023, reaching an estimated USD 19.3 billion and is set to soar to approximately USD 240 billion by 2033.
The comprehensive research conducted by FMI reveals a remarkable upward trajectory for the cell and gene therapy manufacturing sector. Between 2018 and 2022, the market demonstrated a solid CAGR of around 22%, reflecting a period of substantial growth that has paved the way for the anticipated exponential increase over the next decade.
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Among the key findings, the cell therapy manufacturing market size is expected to be the highest revenue-generating segment, with an impressive anticipated CAGR of 31.8% from 2023 to 2033. This surge in revenue is attributed to the rising incidence of cancer and other target diseases. Additionally, the increased focus on research and development spending in pharmaceutical companies is contributing significantly to the expansion of the market.
“The remarkable growth projections for the global cell and gene therapy manufacturing industry highlight the transformative impact of advanced medical technologies,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “Our commitment to pioneering innovations and staying at the forefront of this dynamic industry positions us to contribute to and benefit from this unprecedented growth.”
The industry’s growth is further substantiated by the increasing adoption of cell and gene therapies for treating a spectrum of diseases, propelling the demand for advanced manufacturing technologies. As the market evolves, it presents exciting opportunities for companies to collaborate, innovate, and advance the development of life-changing therapies.
Immunotherapy, gene transfer, and oncolytic virotherapy are three separate gene therapy treatments that are excessively utilized to treat cancer. As the number of instances increases, so will the reliance on gene therapy, thus driving the market growth. In addition to that, it has been estimated that more than 50 million people will be diagnosed with cancer within the next five years.
Report Highlights:
Breast cancer has significantly suppressed lung cancer, by being one of the most commonly diagnosed cancers worldwide. For the first time, owing to its high incidence in low- and middle-income nations. Because cancer is one of the most complex diseases, cell and gene therapy is one of the fields with a significant opportunity for cancer treatment.
Aging populations and socioeconomic risk factors are two of the most common causes of cancer cases worldwide. Breast cancer is also one of every four cancers diagnosed in women worldwide, according to the same source.
GLOBOCAN 2020 has been revised by the International Agency for Research on Cancer (IARC), which reveals that the worldwide cancer burden has increased to 19.3 million cases and 10 million cancer deaths in 2020.
Competitive Landscape:
The surging interest of key public and private investors in the development of advanced therapies are expected to boost market revenue during the forecast period. In addition, key firms are enhancing their market presence through strategic activities such as mergers and acquisitions, licensing, and partnerships.
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Key Companies Profiled:
- Thermo Fisher Scientific
- Merck KGaA
- Lonza
- Catalent Inc.
- Takara Bio Inc.
- F. Hoffmann-La Roche Ltd
- Wuxi Advanced Therapies
- Samsung Biologics
- Boehringer Ingelheim
- Novartis AG
- Hitachi Chemical Co., Ltd.
- Cellular Therapeutics
- Miltenyi Biotec
- Bluebird Bio Inc.
Segments Covered in Cell and Gene Therapy Manufacturing Market Analysis:
By Therapy Type:
- Cell Therapy Manufacturing
- Stem Cell Therapy
- Non-Stem Cell Therapy
- Gene Therapy Manufacturing
By Scale:
- Pre-commercial/ R&D Manufacturing
- Commercial Scale Manufacturing
By Mode:
- Contract Manufacturing
- In-house Manufacturing
By Workflow:
- Cell Processing
- Cell Banking
- Process Development
- Fill & Finish Operations
- Analytical And Quality Testing
- Raw Material Testing
- Vector Production
- Other Workflows
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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