The Cell and Gene Therapy Bioassay Services Market worth $ 5.64 Billion by 2030
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InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Global Cell and Gene Therapy Bioassay Services Market (Type of Therapy (Cell Therapy and Gene Therapy), Therapeutic Area (Oncological, Cardiovascular, Infectious, Autoimmune, Rare/Genetic, Metabolic, Neurological, Blood, Ophthalmic Disorders, and Other Therapeutic Areas), Scale of Operation (Discovery, Preclinical, Clinical)- Market Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
According to the latest research by InsightAce Analytic, the global cell and gene therapy bioassay services market is valued at US$ 1.63 Billion in 2021, and it is expected to reach US$ 5.64 Billion by 2030 with a CAGR of 15.0% during a forecast period of 2022-2030.
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Cell and gene therapies include extracting protein, cells, or genetic material from the patient or donor and altering them to provide a highly targeted or personalized treatment. These therapies can treat complex & rare diseases and provide long-lasting benefits than traditional treatments. Hence, the demand for various contract research organizations that offer bioassay services for cell and gene therapies has increased over the years.
Numerous factors such as the increasing need for advanced therapy treatments, rising incidence of cancer and other chronic diseases, advancements in genomics technology methods are predominantly driving the market growth. Increasing demand for personalized therapies and increasing government funding for the R&D of innovative cell & gene therapies are further anticipated to boost the demand for the bioassay services market during the forecast period. Due to the increasing demand for cost-effective and efficient cell & gene therapies, outsourcing contract research organizations (CROs) have expanded the bioassay services, thereby fueling market growth opportunities in the near future. Various contract research businesses claiming to provide bioassay services for cell and gene therapies have developed as the demand for outsourcing bioanalytical services grows. However, the high cost of bioassay services may restrict the growth of the global cell and gene therapy bioassay services market in the upcoming years.
Geographically, North America is estimated to hold the maximum share of the market over the forecast years due to the increasing launch of cell and gene therapy products and increasing R&D activities in biopharma companies to develop cell and gene therapies.
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Major market players operating in the cell and gene therapy bioassay services market include AnaBioTec (Belgium), CCRM (Canada), Nexelis (Canada), Lonza (Switzerland), PPD Laboratories (North Carolina), Intertek Pharmaceutical Services (UK), Pacific BioLabs (US), WuXi Advanced Therapies (US), Porton Biopharma Ltd (UK), Avomeen (US), Charles River Laboratories (US), BioAgilytix Labs (US), Absorption Systems (US), Catalent, Inc (US), Svar Life Science AB (Sweden) among others.
Some significant developments in the market:
·??????In Dec 2021, Mediphage Bioceuticals, Inc. has been acquired by CCRM Enterprises Inc., the company's venture capital arm. CCRM Enterprises' investment will be used to fund the technology's development and continued operations, as well as access to CCRM's scientific and industrial experience. Mediphage is focusing on a non-viral gene therapy platform that will pave the way for personalized genetic treatment that is both safe and effective, while also addressing many of the drawbacks of current viral vector-based gene therapy technologies.
·??????In April 2021, AavantiBio (US), a gene therapy company, and Catalent (US), the provider of drugs, cell & gene therapies, partnered to support the development and manufacturing of AavantiBio’s gene therapies.
·??????In November 2021, WuXi Advanced Therapies (US) opened a new cell and gene therapy testing facility with 140,000 square feet of laboratory space. This facility will further enhance the company’s contract testing, development, and manufacturing organization (CTDMO) business model by tripling the company’s previous testing capacity, meeting the increasing needs of customers in the cell and gene therapy industry.
·??????In April 2021, PPD, Inc., a global contract research organization ( CRO ), is expanding its Athlone, Ireland, GMP laboratory, increasing the size of its current facility and adding cell and gene therapy testing to the operation’s portfolio of services.The expansion enhances PPD’s ability to deliver global scientific and technical expertise to meet growing customer demand in Europe, the Middle East and Africa, and the Asia-Pacific region
·??????In Jan 2021, Nexelis has signed an asset purchase agreement with GSK to acquire its GCLP-certified clinical bioanalytical laboratory located in Marburg, Germany.Nexelis intends to quickly expand the Marburg site, initiating collaborations with other vaccine development companies as well as with the company’s other North American and European sites.
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Market Segments
Global Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Type of Therapy, 2019-2030 (Value US$ Mn)
Global Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Therapeutic Area, 2019-2030 (Value US$ Mn)
Global Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Scale of Operation, 2019-2030 (Value US$ Mn)
Global Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Region, 2019-2030 (Value US$ Mn)
North America Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Country, 2019-2030 (Value US$ Mn)
Europe Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Country, 2019-2030 (Value US$ Mn)
Asia Pacific Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Country, 2019-2030 (Value US$ Mn)
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Latin America Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Country, 2019-2030 (Value US$ Mn)
Middle East & Africa Cell and Gene Therapy Bioassay Services Market (Revenue Forecast and Industry Analysis), by Country, 2019-2030 (Value US$ Mn)
Why should buy this market research report:
??To receive a key insights of the prospects for the global cell and gene therapy bioassay services market
??To receive an market overview and future trends of the cell and gene therapy bioassay services market
??To analyze the cell and gene therapy bioassay services market drivers and challenges
??To get information on the cell and gene therapy bioassay services market size value (US$ Mn) forecast to 2030
??Significant investments, mergers & acquisitions in the cell and gene therapy bioassay services market industry
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