DUBLIN–(BUSINESS WIRE)–The “Global Cell And Gene Therapy Clinical Trials Market 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global cell and gene therapy clinical trials market size is expected to reach USD 45.4 billion by 2028, expanding at a CAGR of 22.3%
Increasing funding, investments in research and development, and successful product launches are boosting the market growth.
Cell and gene therapies (CGTs) signify the next great movement of therapeutic innovation and have resulted in the development of promising therapies around the world. Although a few of the early therapies have got marketing approval in the U.S., there are numerous promising therapies in development across the world.
The market of cell and gene therapy has witnessed significant growth over the past few years with pharma firms partnering to create effective and accessible therapies for patients. As reported by PhRMA in 2019, there were 362 cell and gene therapies in clinical development in the U.S. representing a 20% increase from 2018.
In addition, by the end of 2019, there were more than 1,000 cell and gene therapy clinical trials in the process including 452 gene-modified and cell-based immune-oncology, 352 gene therapies, 216 cell therapies, and 46 tissue engineering.
Besides, investment is rolling into companies of various types, ranging from startups to major acquisitions by significant biopharmaceutical companies. In 2019, 19 deals of M&A worth over USD 156 billion were completed.
The largest of these was the acquisition of Celgene and its pipeline of numerous cell therapy assets by Bristol-Myers Squibb for USD 74 billion is expected to boost its participation in oncology treatments. Hence, representing a noteworthy increase since 2015, when M&A activities in these are totaled about USD 4 billion.
Cell And Gene Therapy Clinical Trials Market Report Highlights
- By phase, the phase II segment held the largest share of over 50.0% in 2020 owing to the large number of therapies currently in development in phase II
- Based on indication, the oncology segment held the largest share of 47.0% in 2020 as oncology alone contributed to 600 CGT clinical trials out of around 1,000
- North America dominated the global market with a share of 48.3% in 2020. This is largely attributed to a large number of clinical trial activities in the U.S. and favorable government support
- The Asia Pacific region is expected to expand at the fastest CAGR of 23.1% over the forecast period owing to the increasing number of biotechnology companies focusing on CGTs
Cell & Gene Clinical Trials Market: Variables, Trends, & Scope
Penetration & Growth Prospect Mapping
COVID-19 pandemic impact on clinical trial activity
- Obstacles in clinical trials:
- Disrupted clinical trials:
- Companies with Phase I trial disruption
- Companies with Phase 2 trial disruption
- Companies with Phase 3 trial disruption
Market Driver Analysis
- Growing interest in CGT
- Favorable regulatory environment
- Increasing R&D funding
Market Restraint Analysis
- Recruitment obstacles
Industry Challenge
- Creating a high-touch treatment center model
- Collecting raw materials
- Commercialization issues
Opportunity
- Drug approval and a strong pipeline of cell & gene therapy
Trends in the CGT
Regulations
COVID-19 Impact on the industry
- Time-sensitive CGTs during the pandemic
Cell & Gene Therapy Clinical Trials Market Analysis Tools
- Porter’s Five Forces Analysis
- PESTEL Analysis
Major Deals & Strategic Alliances Analysis
Companies Mentioned
- ICON plc
- IQVIA Holdings Inc.
- PAREXEL International Corporation
- Covance Inc.
- Syneos Health
- Charles River Laboratories International, Inc.
- Medpace Holdings, Inc.
- Novartis
- Novotech
- Veristat, LLC
For more information about this report visit https://www.researchandmarkets.com/r/hgonx4
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900