The Business Research Company’s Cell And Gene Therapy Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 22, 2021 /EINPresswire.com/ — Chimeric antigen receptor (CAR) T-cell therapy is increasingly gaining traction. In (CAR) T -cell therapy, T cells are collected from the patient’s blood and are genetically engineered to produce modified receptors at their surface, known as chimeric antigen receptors (CARs). These modified T cells with special structures (receptors) are then reinfused into the patient. These modified receptors of T cell help in targeting the surface antigen of the cancer cell t and in turn result in the killing of tumor cells in patients. In 2020, the US-FDA approved Bristol-Myers Squibb`s two CAR-T cell therapies to treat lymphoma and multiple myeloma. FDA approved CAR-T cells therapy treatments like Tisagenlecleucel for the treatment of B-cell precursor acute lymphoblastic leukemia (ALL) in children and Axicabtagene ciloleucel for the treatment of adult patients with relapsed or refractory large B-cell lymphoma.
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The global cell and gene therapy market reached a value of nearly $4.39 billion in 2020, having increased at a compound annual growth rate (CAGR) of 25.5% since 2015. The market is expected to grow from $4.39 billion in 2020 to $15.48 billion in 2025 at a rate of 28.7%. The cell and gene therapy market is then expected to grow at a CAGR of 17.3% from 2025 and reach $34.32 billion in 2030.
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Pharmaceutical companies and federal governments are increasingly working together in partnerships and collaborations to provide funding and implement incentive programs for the research and development (R&D) of cell and gene therapies. These partnerships provide financial and technical assistance across different clinical development phases to pharmaceutical companies. For instance, in June 2020, CSL Behring, a biotechnology company, and Seattle Children's Research Institute announced a strategic alliance to develop advanced stem cell gene therapy treatments for primary immunodeficiency diseases. In October 2019, the National Institutes of Health (NIH) and the Bill & Melinda Gates Foundation pledge to invest $200 million over the next four years to speed the development of affordable gene therapies for human immunodeficiency virus (HIV) and sickle cell disease (SCD) on a global scale.
The rising prevalence of cancer and chronic cases across the globe is likely to contribute to the growth of the cell and gene therapy market during the forecast period. According to the Union for International Cancer Control (UICC)’s GLOBOCAN 2020: New Global Cancer Data published in December 2020, the global cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020. Furthermore, according to the International Agency for Research on Cancer (IARC), globally 1 in 5 people develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. As suggested by the new estimates, more than 50 million people are living within five years of a past cancer diagnosis. Socio-economic risk factors and the elderly population are a major cause for increasing cancer and chronic diseases, thereby driving the growth of the cell and gene therapy market.
Major players covered in the global cell and gene therapy industry are Biogen Inc., Novartis AG, Gilead Sciences, Ionis Pharmaceuticals, Inc., Alnylam Pharmaceuticals, Inc.
TBRC’s global cell and gene therapy market is segmented by product into cell therapy, gene therapy, by application into oncology, dermatology, musculoskeletal, others, by end user into hospitals, ambulatory surgical centers, cancer care centers, wound care centers, others.
Cell And Gene Therapy Market 2021 – By Product (Cell Therapy, Gene Therapy), By Application (Oncology, Neurological Disorders) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides cell and gene therapy market overview, forecast cell and gene therapy market size and growth for the whole market, cell and gene therapy market segments, and geographies, cell and gene therapy market trends, cell and gene therapy market drivers, cell and gene therapy market restraints, cell and gene therapy market leading competitors’ revenues, profiles, and market shares.
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