Cell and Gene Therapy Market Growth – at a CAGR of 19.8% During Forecast Period 2019-2027
Technological advancements in cellular and molecular biology, high prevalence of chronic and rare diseases, and increasing investments in research and development activities are some key factors expected to drive global market growth
Emergen Research has recently published its latest report titled, “Cell and Gene Therapy Market By Indication (Acute Lymphoblastic Leukemia (ALL), Inherited Retinal Disease, Large B-Cell Lymphoma, ADA-SCID), By Vector Type (Lentivirus, AAV, Retrovirus & Gammaretrovirus, Modified Herpes Simplex Virus, Adenovirus, Non-Viral Plasmid Vector), and By Region Forecast to 2027”
According to Emergen Research, the global cell and gene therapy market size was USD 1,180 Million in 2019 and is expected to reach USD 6,570 Million in 2027 and register a robust revenue CAGR of 19.8% during the forecast period, 2020-2027.
Market Dynamics:
Cell and gene therapy are overlying fields of biomedical research and play a vital role in modern healthcare owing to benefits including cell-cell interaction, remodeling, regenerative capacity, and gene regulation. These therapies aim to prevent, treat and cure rare disorders and acquired diseases and have the potential to reduce underlying causes of these diseases. Many leading companies are investing in research and development of gene and cell therapies. Rapid advancements in cell and gene therapy, increasing number of clinical trials, and rising demand for personalized medicine are key factors expected to drive global market revenue growth over the forecast period.
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Rising availability of funds and increased investments by public and private sectors to accelerate development of advanced therapies, increasing healthcare spending, and steadily improving healthcare infrastructure are expected to further fuel market growth during the forecast period. However, high costs of gene therapy and development challenges, lack of well-established healthcare facilities in many developing and underdeveloped countries, and unfavorable reimbursement schemes are some key factors that can restrain market growth during the forecast period. Moreover, limited awareness about advanced cell and gene therapies and lack of skilled labor are other factors that can hamper global cell and gene therapy market revenue growth to a certain extent over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Acute Lymphoblastic Leukemia Segment Register Rapid Revenue Growth:
The Acute Lymphoblastic Leukemia (ALL) segment is expected to register rapid revenue growth over the forecast period. This can be attributed to increasing prevalence of acute lymphoblastic leukemia across the globe, high usage of Chimeric Antigen Receptor (CAR) T-cell therapy and gene therapy, rapid advancements in cell and gene therapy, and increasing investments in cell and gene-based research.
Retrovirus & Gammaretrovirus Segment to Account for Largest Revenue Share:
The retrovirus and gammaretrovirus segment is expected to account for largest revenue share between 2020 and 2027 owing to increasing prevalence of leukemia, rapid advancements in gene therapy, ongoing research on retrovirus and gammaretrovirus, and increasing investments in research and development activities.
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North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share during the forecast period owing to increasing prevalence of chronic and infectious diseases across the region, presence of highly developed healthcare facilities and research centers, and high healthcare expenditure. Other factors such as rising number of clinical trials related to gene therapy, presence of leading companies, and increasing investments in research and development activities are expected to fuel North America market growth during the forecast period.
Major Companies in the Market Include:
- Spark Therapeutics LLC
- Novartis AG
- Gilead Sciences Inc.
- Bluebird Bio
- GlaxoSmithKline
- Celgene Corporation
- Shire PLC
- Sangamo Biosciences
- Voyager Therapeutics
- Dimension Therapeutics
For the purpose of this report, Emergen Research has segmented the global cell and gene therapy market on the basis of indication, vector type, and region:
Indication Outlook (Revenue, USD Million; 2017-2027)
- Acute Lymphoblastic Leukemia (ALL)
- Inherited Retinal Disease
- Large B-Cell Lymphoma
- ADA-SCID
- Others
Vector Outlook (Revenue, USD Million; 2017-2027)
- Lentivirus
- AAV
- Retrovirus & Gammaretrovirus
- Modified Herpes Simplex Virus
- Adenovirus
- Non-Viral Plasmid Vector
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Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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