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Cell And Gene Therapy Market is Poised for Rapid Growth Due to Innovation in Treatment Protocols

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ashwini bakhade
Cell And Gene Therapy Market is Poised for Rapid Growth Due to Innovation in Treatment Protocols

The cell and gene therapy market is transforming therapeutic landscapes and revolutionizing treatment approaches for various target diseases. Cell and gene therapy uses genetically modified or unmodified cells or nucleic acids to treat, manage or prevent diseases. These therapies aim to repair or replace damaged cells and tissues by modifying existing cells or introducing new ones. Key applications include cancer immunotherapies, genetic disorders, and cardiovascular, neurological and infectious diseases. The emerging field shows promise for many conditions currently without effective treatments or cures. Rising disease burden, innovation in treatment protocols, and increasing R&D investments are fueling market growth.

The global cell and gene therapy market is estimated to be valued at US$ 21.08 billion in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031.



Key Takeaways

Key players operating in the Cell And Gene Therapy Market Size are Tadano Ltd, Liebherr Group, Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd, Sany Heavy Industry Co. Ltd, Zoomlion Heavy Industry Science and Technology Co., Kobelco Construction Machinery Co., Ltd, Manitowoc Cranes, Link-Belt Cranes, Kato Works Co. Ltd, Palfinger AG, Manitex International, Sichuan Changjiang Electric Co. Ltd, Altec Inc., Elliott Equipment Company, Böcker Maschinenwerke GmbH, Tadano Faun GmbH, Broderson Manufacturing Corp., Mühlhäuser GmbH & Co. KG, SENNEBOGEN Maschinenfabrik GmbH. The availability of advanced technologies and wider product pipelines are creating new opportunities in the market. Key companies are undertaking strategic collaborations and acquisitions for global expansion to strengthen their market position.


Market Drivers and Restraints

Increasing incidence of cancer and other target diseases is a major factor driving the cell and gene therapy market growth. Additionally, rising awareness about advanced treatment options and favorable reimbursement policies in developed nations are also propelling the market forward. However, high costs associated with research and development as well as therapies may hinder the overall market growth. Scarcity of trained healthcare professionals required for cell collection, processing, and administration is another challenge faced by market players.


Segment Analysis

The cell and gene therapy market comprises various sub segments such as viral vector based therapy, non-viral vector therapy, and ex vivo cell therapy. Among these, ex vivo cell therapy dominates the market with more than 30% share. This is because ex vivo therapy does not require extraction of cells from the patient's body, minimizing discomfort and risk. The cells are extracted and genetically modified outside the body and then reintroduced to the patient, making the process very efficacious.


Global Analysis

Regionally, North America dominates the cell and gene therapy market with around 45% share. This is due to high healthcare spending in countries like the US and rising demand for personalized medicine in the region. However, Asia Pacific is projected to grow at the fastest rate of over 6% during the forecast period. This can be attributed to growing investments by key market players, rising healthcare infrastructure, and increasing government support for cell and gene therapy research in countries like China and India. Europe holds the second largest share attributed to availability of advanced healthcare facilities and supportive regulatory environment in the region.


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