Cell & Gene Therapy Manufacturing Services Industry Growth and Forecast Report 2030

NEW YORK - Jan. 30, 2024 - PRLog -- The global cell & gene therapy manufacturing services market is witnessing growth and projected to be worth USD 20,164 million by 2030, growing at a CAGR of 18.60%. This growth can be ascribed to the high occurrence of cancer and other target illnesses, augmented pharmaceutical research and development investments, and a huge count of therapy progress activities.

In 2022, Cell therapy had a larger market share, of approximately 62%. This is primarily because cell-based therapy is extensively utilized for the medical study of cardiovascular illnesses, because of difficult pre-clinical investigations of cell biology, phenotypic effectiveness, immunology, and mechanism of action.

In 2022, the oncology disease category had the largest market share. With a consistent surge in the frequency of cancer and other rare illnesses, the requirement for cell and gene treatments is growing worldwide. This is because such treatments are capable to cure genetic illnesses and have numerous benefits, like cancer gene treatment does not need longstanding transgene expression.

Therefore, the growing load of cancer is forcing biotechnology and pharmacological businesses to grow new gene therapies for its cure. For example, in 2021, in the U.S., there were approximately 2 million novel cancer cases. In 2022, there were approximately 2.0 million new cases of cancer identified and more than 0.6 million cancer demises in the nation.

In 2022, on the basis of application, the clinical manufacturing category had a larger market share, of above 58%. In 2022, the FDA permitted five novel cell & gene treatments, and numerous treatments are in the pipeline and to be introduced in the near future.

Browse detailed report analysis on Cell & Gene Therapy Manufacturing Services Industry Research Report, 2030 (https://www.psmarketresearch.com/market-analysis/cell-gen...)

In 2022, North America dominated the industry, with a revenue share of approximately 49%. This is because of the growing count of product introductions, the rising occurrence of cancer cases, the rising emphasis on the cure of rare illnesses, the growing count of clinical trials, and the existence of key industry companies in the continent. Furthermore, technological progressions in the continent are growing the requirement for gene therapies.

Hence, the high occurrence of cancer and other target illnesses, augmented pharmaceutical research and development investments, and a huge count of therapy progress activities, are the major factors contributing in the growth of the cell & gene therapy manufacturing services market.