The Business Research Company’s Cell And Gene Therapy Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, April 20, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Steady investment and consolidation in cell and gene therapies contributed to the growth of the cell and gene therapy (CGT) market. After recognizing the potential of the CGT market, 16 out of the 20 largest biopharma companies by revenue, added CGT products to their portfolio. For instance, Merck invested $109 million in viral vector and gene therapy manufacturing in April 2020. Moreover, 12% of industrial clinical pipeline products and at least 16% of preclinical pipeline products consist of CGT. Steady investment and consolidation in CGT production capacity led to an increase in production capacity and also contributed to the growth of the market.
The global cell and gene therapy market size is expected to grow from $6.69 billion in 2020 to $7.96 billion in 2021 at a compound annual growth rate (CAGR) of 19%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cell and gene therapy market is expected to reach $17.32 billion in 2025 at a CAGR of 21%.
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The cell and gene therapy market covered in this report is segmented by product into the cell therapy market, gene therapy market, by application into oncology, dermatology, musculoskeletal, others, and by end user into hospitals, ambulatory surgical centers, cancer care centers, wound care centers, others.
Major players in the cell and gene therapy industry are Gilead Sciences, Bristol-Myers Squibb, Novartis AG, Amgen, Merck, Organogenesis Holdings, Dendreon, Vericel, Bluebird Bio, and Fibrocell Science.
Cell And Gene Therapy Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides cell and gene therapy market overview, forecast cell and gene therapy market size and growth for the whole market, cell and gene therapy market segments, and geographies, cell and gene therapy market trends, cell and gene therapy market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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