IMARC Group, a leading market research company, has recently releases report titled “Cell and Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global cell and gene therapy market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is Cell and Gene Therapy?
Cell and gene therapy are innovative medical approaches that aim to treat diseases by harnessing the power of cells and genes. These therapies hold great potential for addressing a wide range of genetic disorders, chronic diseases, and even certain types of cancer. Cell therapy involves the transplantation or manipulation of cells to restore or enhance their function. This can include the infusion of healthy cells to replace damaged or malfunctioning ones, or the modification of a patient's own cells to correct genetic defects or enhance their therapeutic capabilities. Stem cell therapy, a type of cell therapy, utilizes the unique regenerative properties of stem cells to promote tissue repair and regeneration. Gene therapy, on the other hand, involves the introduction or modification of genes within a patient's cells to treat or prevent disease. This can be achieved by delivering therapeutic genes into target cells to replace or supplement faulty genes, inhibit the expression of disease-causing genes, or activate specific cellular processes. Gene therapies can be delivered using various methods, such as viral vectors, non-viral vectors, or genome editing technologies like CRISPR-Cas9. Both cell and gene therapies have the potential to revolutionize medicine by providing precise and personalized treatments. They offer the possibility of long-term or even permanent solutions for conditions that were previously considered incurable.
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What are the growth prospects and trends in the cell and gene industry?
The increasing incidence of chronic diseases, such as cancer, cardiovascular disorders, genetic disorders, and autoimmune diseases, represents one of the key factors driving the growth of the global cell and gene therapy market. In line with this, significant advancements in biotechnology, genetic engineering, and gene editing techniques, such as CRISPR-Cas9 are contributing to the development of more effective and precise cell and gene therapies, which are acting as major growth-inducing factors.
In addition to this, governments and regulatory authorities in several countries worldwide supporting the development and commercialization of cell and gene therapies by streamlining regulatory pathways and providing expedited approval processes are influencing the growth of the market. The market is also driven by the increasing investments and funding for cell and gene therapy research and development (R&D) by both public and private entities. This financial support is accelerating innovation, clinical trials, and commercialization efforts which is driving the growth of the market. Apart from this, positive outcomes from clinical trials of various cell and gene therapies are generating optimism and demonstrating the potential of these therapies to provide novel treatment options which is fueling the growth of the market. Thriving results are attracting further investments and enhancing the growth of the market.
Moreover, the collaboration between pharmaceutical companies, biotech firms, research institutions, and academic centers is playing a crucial role in advancing cell and gene therapies which are facilitating the growth of the market. Other factors, including increasing awareness among patients and healthcare professionals about the potential benefits of cell and gene therapies, improvements in reimbursement policies and insurance coverage for cell and gene therapies, and rising demand for personalized and targeted therapies, are creating a positive outlook for the market across the globe.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by therapy type:
- Cell Therapy
- Stem Cell
- Pluripotent Stem Cell
- Cancer Stem Cell
- Adult Stem Cell
- Non-Stem Cell
- T Cells
- Natural Killer
- Others
- Stem Cell
- Gene Therapy
Breakup by Indication:
- Cardiovascular Disease
- Oncology Disorder
- Genetic Disorder
- Infectious Disease
- Neurological Disorder
- Others
Breakup by Delivery Mode:
- In-Vivo
- Ex-Vivo
Breakup by End User:
- Hospitals
- Cancer Care Centers
- Pharmaceutical & Biotechnology Companies
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Amgen Inc.
- Biogen
- Bluebird bio, Inc.
- Bristol-Myers Squibb
- Gilead Science
- Kolon TissueGene Inc.
- Orchard Therapeutics plc.
- Pfizer Inc
- Renova Therapeutics
- Spark Therapeutics, Inc
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