Cell And Gene Therapy CDMO Market Size To Hit USD 69.11 Bn By 2033
Shivani Mhatre
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Latest Study on “cell and gene therapy CDMO Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2024-2033”.
The global cell and gene therapy CDMO market size is expected to be worth around USD 69.11 billion by 2033, according to a new report by Nova one advisor.
The global cell and gene therapy CDMO market size was valued at USD 5.90 billion in 2023 and is anticipated to grow at a CAGR of 27.9% during forecast period 2024 to 2033.
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Key Takeaways:
Cell And Gene Therapy CDMO Market Size & Trends
The global Cell And Gene Therapy CDMO market size was estimated at USD 7.55 billion in 2024 and is projected to hit around USD 69.11 billion by 2033, growing at a CAGR of 27.9% during the forecast period from 2024 to 2033.
The market is experiencing robust growth during the analysis period, fueled by an expanding portfolio of cell and gene therapy products, increased researcher attention on rare diseases, substantial investments from both public and private sectors in research and development, rising demand for outsourced services related to cell and gene therapies, increasing prevalence of chronic ailments such as cancer, a surge in mergers & acquisitions activities, and ongoing technological innovations throughout the cell and gene therapy development process.??
Increased R&D funding and investments in cell and gene therapeutics (CGT) is a crucial trend in the?biotechnology?and pharmaceutical industries. Cell and gene therapies hold significant potential in treating a wide range of diseases, including cancer, genetic disorders, and certain infectious diseases. Hence, owing to the great potential of these therapeutics, there has been a considerable increase in interest from both private and public sectors in the development and discovery of innovative cell and gene therapies. Most big pharmaceutical companies are now investing in CGT to create a strong position in the market. There has been a considerable increase in venture capital investments, especially in the life sciences sector.
For instance, a pharmaceutical giant, Charles River Laboratories stated that the life sciences industry has witnessed a consistent average growth rate of 18% in investments from 2010 to 2021. The growth rate in?gene therapy?during this same timeframe has also increased to approximately 59%.
The market experienced disruptions during the initial phases of the COVID-19 pandemic, mainly due to a slowdown in overall clinical trial activities. The pandemic significantly affected supply chain management, emerging as a primary factor hindering market growth. The substantial impact was attributed to a lack of demand forecasting and feasibility planning. Lockdowns and restrictions imposed in the early stages of the pandemic raised concerns about logistics and transportation, leading to delays and temporary suspensions of?clinical trials.
However, the outbreak of COVID-19 has accelerated certain new models in the cell and gene therapy CDMO industry to ease the crisis and cope with changing trends. Virtual trials are gradually gaining popularity and are expected to grow considerably in the coming years. The pandemic led to certain restrictions, such as social distancing and travel restrictions, owing to which around 80.00% of sites were temporarily suspended or put on hold at least one clinical trial. Therefore, to avoid such situations, virtual trials are gradually being adopted, which allow the implementation of innovative approaches to trials and help ensure a better patient experience. Furthermore, the CDMOs eradicated the negative impact of the COVID-19 pandemic by involving in in-organic strategic initiatives such as mergers, partnerships, and acquisitions. This helped them in sales rebound by 2021.
Regional Insight
North America accounts for the largest share of 40.18% in 2023. High shares of the region are majorly due to growth in the approvals of CGT products in the region, especially across the U.S. For instance, as per the Alliance for Regenerative Medicine, in 2022, three novel gene therapies gained U.S. FDA approval for treating rare diseases, while another therapy gained approval for treating bladder cancer. In addition, it is estimated that around 13 new CGT products are on the verge of gaining approval in the U.S. and Europe by the end of 2023. Hence, increasing product approvals simultaneously boosts demand for contract manufacturing services, thereby driving the growth of the CDMO sector.
Asia Pacific, on the other hand, is anticipated to register a lucrative CAGR of 29.1% during the forecast period. The region's high growth is due to the surge in CGT clinical trials across countries such as China. Increased investment in research and development, favorable regulatory environments that facilitate clinical trials, a growing focus on healthcare innovation, and a rising awareness of the potential benefits of gene and cell therapies are a few factors supporting the region’s growth. In addition, collaborations between international and local research institutions and the availability of diverse patient populations contribute to the attractiveness of the Asia-Pacific region for conducting these trials.? ??
Key Companies & Market Share Insights
The major players operating across the market are focused on adopting in-organic strategic initiatives such as mergers, partnerships, acquisitions, etc. Moreover, companies focus on technological innovations to augment their market position. For instance, in September 2023, Charles River Laboratories unveiled its new technology Lentivation lentiviral vector (LVV) manufacturing platform. This platform is designed to streamline the manufacturing timelines for gene and gene-modified cell therapies, potentially reducing them by up to 60%, resulting in fewer than seven months compared to conventional manufacturing workflows.
Key Cell And Gene Therapy CDMO Companies:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Cell And Gene Therapy CDMO market.
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