Cell & Gene Therapy Manufacturing Services Market Insights: Trends And Forecast For 2024
Cell & Gene Therapy Manufacturing Services Market Outlook, Scope & Overview:
Industry reports indicate that the global cell and gene therapy manufacturing services market was valued at USD 6.1 billion in 2023 and is projected to reach USD 38.9 billion by 2031, growing at a CAGR of 22.3% over the forecast period 2024-2031.
Technological Advancements to Drive Growth of Global Cell & Gene Therapy Manufacturing Services Market
The adoption of advanced manufacturing services for cell and gene therapies will continue to influence global market revenues. As the field of regenerative medicine expands, there is a growing demand for specialized manufacturing services to support the production of complex therapies, including CAR-T cell therapies, gene editing, and gene transfer technologies.
As a product segment, contract development and manufacturing organizations (CDMOs) specializing in cell and gene therapy currently hold a significant share of the global market. This segment is anticipated to grow at a year-over-year rate of 22.3% in 2024 over 2023 and reach USD 38.9 billion in revenues by 2031. The increasing number of clinical trials and commercialization of cell and gene therapies are expected to drive market growth.
Cell & Gene Therapy Manufacturing Services – Market Dynamics
Drivers:
Cell and gene therapy manufacturing services are witnessing significant growth due to their critical role in supporting the development and commercialization of cutting-edge therapies. The rising prevalence of genetic disorders, cancer, and other chronic diseases, combined with advancements in gene editing technologies and the increasing number of clinical trials, are driving the demand for specialized manufacturing services. Additionally, the growing emphasis on personalized medicine and the need for scalable and efficient production processes are further propelling market growth.
Restraints:
Despite the growth potential, challenges such as high manufacturing costs, regulatory complexities, and the need for specialized infrastructure and expertise are hindering the widespread adoption of cell and gene therapy manufacturing services. Moreover, the long development timelines and the need for stringent quality control measures pose additional challenges to market expansion.
Cell & Gene Therapy Manufacturing Services – Market Outlook
The proven benefits of advanced manufacturing services in accelerating the development and production of cell and gene therapies have contributed to the market's growth. Cell and gene therapy manufacturing services are expected to witness increased adoption across major markets, including North America, Europe, and Asia Pacific, driven by advancements in therapy technologies and increasing investments in research and development.
Global Cell & Gene Therapy Manufacturing Services Market
The rise in demand for cell and gene therapy manufacturing services in developed and emerging markets is expected to drive market growth over the forecast period. North America currently holds a significant market share in the global cell and gene therapy manufacturing services market, with the US being a key contributor to market revenues. Europe and Asia Pacific regions are also experiencing rapid growth in the adoption of manufacturing services, supported by favorable regulatory environments and increasing investments in biotech innovation.
Key Players in the Cell & Gene Therapy Manufacturing Services Market
Leading companies in the cell and gene therapy manufacturing services market include Lonza Group, Catalent, Inc., WuXi AppTec, and Celerion. These companies are at the forefront of providing advanced manufacturing solutions for cell and gene therapies, including process development, clinical manufacturing, and commercialization support.
In conclusion, the global cell and gene therapy manufacturing services market is poised for substantial growth over the forecast period, driven by technological advancements, increasing clinical trials, and the expanding adoption of regenerative medicine across diverse therapeutic areas.
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