Global Cell and Gene Therapy Market worth US$ 1.8 billion 2019 with a CAGR of 35.60%

COVINA, Calif. - March 31, 2021 - PRLog -- The report "Global Cell and Gene Therapy Market, By Products (Cell Therapy, and Gene Therapy), By Distribution Channel Type (Oncology, Dermatology, Musculoskeletal, and Others), By End-Users (Hospitals, Wound Care Centers, Cancer Care Centers, Ambulatory Surgical Centers, and Others), and Region - Global Forecast to 2030" global cell and gene therapy market is projected to grow from US$ 1.8 billion in 2019. The major factor driving the global cell and gene therapy market is an increased pool of patients with various diseases, product launches and approvals. Also, favorable regulatory support and special designations for cell and gene therapy products, growing demand for car t-cell therapy products. The market is expected to grow at a significant growth rate due to the opportunities that lie within its domain, which include drug approvals and a strong pipeline of cell and gene therapies.

Key Highlights:

• In December 2019, Kite a Gilead Company and the CIMBTR, the research collaboration between the National Marrow Donor Program, Be The Match and the Medical College of Wisconsin announced findings from an ongoing post-marketing study evaluating the safety and efficacy of Yescarta (axicabtagene ciloleucel) in adult patients with relapsed or refractory large b-cell lymphoma.
• In December 2018, Novartis announces offer to acquire CellforCure to expand manufacturing capacity for innovative cell and gene therapies.

Key Market Insights from the report:

The global cell and gene therapy market accounted for US$ 1.8 billion in 2019 and is projected to register a moderate CAGR of 35.60% over the forecast period. The market report has been segmented on the products, distribution channel type, end-users, and region.

• By-products, gene therapy is expected to account the highest revenue share, as the penetration of these products is increasing at a significant rate.
• By distribution channel type, oncology segment dominates this segment, as the available products not only modify the disease but also improve the quality of the patient's life.
• By end-users, the hospital is dominating this segment, due to the increasing incidence/prevalence of chronic diseases.
• By region, North America is projected to lead the global cell and gene therapy market and is expected to remain dominant during the forecast period, due to the high prevalence of chronic diseases and other conditions, which require these treatment methods.

Links: https://prophecymarketinsights.com/market_insight/Global-Cell-and-Gene-Therapy-4053

The prominent player operating in the global cell and gene therapy market includes Gilead Sciences, Spark Therapeutics, Novartis AG, Organogenesis, Amgen, Osiris Therapeutics, Dendreon, Vericel, Anterogen, Tego Sciences.