Cell and gene therapy involves the modification of cells or genes to treat or prevent diseases. It replaces or repairs damaged or missing genes that cause diseases. Gene therapy may help treat different types of cancer, genetic disorders, and certain viral infections. It has emerged as a promising treatment option for conditions like cancer, cardiovascular diseases, neurological disorders, and more.

The global cell and gene therapy market is estimated to be valued at US$ 18.29 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity of treating diseases and conditions through cell and gene therapy is expected to drive the market growth over the forecast period. Cell and gene therapies have shown promising results in treating several incurable and life-threatening diseases. With advancements in research, cell and gene therapies are emerging as potential treatment options for various types of cancer, cardiovascular diseases, neurological disorders, genetic disorders and other conditions. This reduces healthcare costs associated with chronic diseases on the long run. With rising prevalence of cancer and other chronic diseases globally, the demand for cell and gene therapy is expected to increase markedly in the coming years. Furthermore, increasing R&D investments by key players and availability of funding for cell and gene therapy research provide a favorable market landscape.

Porter's Analysis

Threat of new entrants: High capital requirements to enter the cell and gene therapy market limits new competitors. Regulatory compliance is stringent.

Bargaining power of buyers: Individual patients have little negotiating power, but pharmaceutical giants can negotiate on price and demand high ROI.

Bargaining power of suppliers: Cell delivery & gene modification technology providers hold strong positions due to specialized expertise and intellectual property.

Threat of new substitutes: Alternate cell-based therapies are emerging rapidly but gene therapy shows highest potential to cure genetic diseases.

Competitive rivalry: Intense due to first-mover advantage, large R&D investments and race to commercialize niche applications.

SWOT Analysis

Strengths: High efficacy in targeting underlying genetic causes. Fast approval paths for unmet medical needs.

Weaknesses: High costs of product development and commercialization. Complicated manufacturing processes. Safety concerns over long-term effects.

Opportunities: Expanding pipeline for oncology, rare diseases. Growing research in iPSC, genome editing.

Threats: Restrictive regulations. Reimbursement uncertainties. Dependence on small target populations.

Key Takeaways

The Global Cell And Gene Therapy Market Size is expected to witness high growth driven by its potential to cure previously untreatable conditions.

North America currently dominates due to presence of key pharma players and supportive regulatory environment. Asia Pacific is fastest growing region with increasing biotech hubs and patient access.

Regional analysis indicates Europe follows North America in market size due to public funding initiatives and clinical research networks. However, universal healthcare coverage presents reimbursement challenges. China is also emerging with substantial state support for translational research infrastructure and talent pool.

Key players operating in the cell and gene therapy market are Alnylam Pharmaceuticals Inc., Amgen Inc., Biogen Inc., CORESTEM Inc., Dendreon Pharmaceuticals LLC., Helixmith Co. Ltd., JCR Pharmaceuticals Co. Ltd., Kolon TissueGene Inc., Novartis AG, Pfizer Inc.

Key players like Novartis AG are commercializing CAR-T therapies while Biogen Inc focuses on gene therapies for neurodegenerative conditions. Corestem Inc represents a new breed of Korean biotechs leveraging regenerative medicine. JCR Pharmaceuticals and Kolon TissueGene specialize in gene therapies targeting Asian markets.

For More Insights, Read: https://www.newswirestats.com/cell-and-gene-therapy-market-demand-growth-and-regional-outlook-by-2030/