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| Cell & Gene Therapy Manufacturing Services Market worth $11.5 billion by 2027 - Exclusive Report by MarketsandMarkets™ | ||||||||||||||||||||||||||||
| By: PR Newswire Association LLC. - 27 Jan 2023 | Back to overview list |
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CHICAGO, Jan. 27, 2023 /PRNewswire/ -- Cell & Gene Therapy Manufacturing Services Market is projected to reach USD 11.5 billion by 2027 from USD 5.1 billion in 2022, at a CAGR of 17.5% during the forecast period, according to a new report by MarketsandMarkets™. Growth in this market is driven by cancer prevalence which is a major burden on healthcare systems across geographies coupled with heavy investments of pharmaceutical companies in research and development to deliver high-quality and innovative products.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=180609441 Browse in-depth TOC on "Cell & Gene Therapy Manufacturing Services Market" 458 - Tables Cell & Gene Therapy Manufacturing Services Market Scope:
The gene therapy segment accounted for the second largest share of the type segment 2021. In 2021, gene therapy accounted for the second largest share of the cell & gene therapy manufacturing services market. Several gene therapy technologies, such as vector design, DNA vaccine design, and gene-delivery vehicles, are currently under study, and very few are marketed. The growing prevalence of hereditary diseases, as well as acute and chronic diseases, is resulting in an increase in the demand for gene therapy. Oncology accounted for the largest share of the indication segment in 2021. The oncology diseases segment accounted for the largest share of the cell & gene therapy manufacturing services market in 2021. The large share of this segment can be attributed to the high number of clinical trials and the rising number of cancer cases worldwide. According to data by GLOBOCAN, in 2020, the number of cancer cases and deaths increased to 19.3 million and 10 million, respectively, from 18.1 million new cases and 9.6 million deaths in 2018. The clinical manufacturing segment accounted for the largest share of the application segment in 2021. The clinical manufacturing application segment accounted for the largest share of the cell & gene therapy manufacturing services market in 2021. Cellular & gene therapy-related research and development worldwide continue to grow rapidly, with several products advancing in clinical development. Thus, increase in the number of clinical trials for the development of cell & gene therapies is fueling the growth of this segment. Pharmaceutical & biotechnology companies accounted for the largest end user segment in 2021. Pharmaceutical & biotechnology companies form the largest end-user segment of the cell & gene therapy manufacturing services market. The large share of this segment can be attributed to the increasing expenditure on R&D by pharmaceutical & biotechnology companies, increasing collaborations between pharmaceutical and biotechnology companies for the launch of new products, and the growing number of cell & gene therapies in the R&D pipeline. The Asia Pacific region is the fastest-growing region of the cell & gene therapy manufacturing services market in 2021. In 2021, the Asia Pacific region of the cell & gene therapy manufacturing services market grew at the fastest CAGR region during the forecast period. The factors such as growing research in the life sciences sector along with increasing outsourcing trend for drug discovery services is expected to fuel the market growth in this region. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=180609441 Cell & Gene Therapy Manufacturing Services Market Dynamics: Drivers:
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Key Market Players: Some of the prominent players in the Cell & gene therapy manufacturing services market are Lonza (Switzerland), Catalent (US), Thermo Fisher Scientific (US), Charles River Laboratories (US WuXi AppTec (China), Merck KGaA (Germany), Takara Bio Inc. (Japan), Nikon Corporation (Japan), FUJIFILM Holdings Corporation (Japan), Oxford Biomedica plc (UK), and Cell and Gene Therapy Catapult (UK). Recent Developments:
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=180609441 Browse Adjacent Market: Biotechnology Market Research Reports & Consulting Related Reports: Human Microbiome Market - Global Forecasts to 2029 Oligonucleotide Synthesis Market - Global Forecasts to 2027 Gene Therapy Market - Global Forecasts to 2027 Molecular Biology Enzymes Market - Global Forecasts to 2026 Pharmaceutical Contract Manufacturing Market - Global Forecasts to 2026 About MarketsandMarkets™: MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets 
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