Cell and Gene Therapy Market, by Therapy Type (Cell Therapy and Gene Therapy), by Indication (Cardiovascular Disease, Cancer, Genetic Disorders, Infectious Diseases, Neurological Disorders, and Others), by Scale of Operation (In-house and Outsourced), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 6,020.0 million in 2017 and is projected to exhibit a CAGR of 21.9 % over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Launch of novel cell and gene therapy by market players is expected to augment the market growth
Key players in the market are focused on launching novel cell and gene therapies, in order to treat various diseases and address the critical unmet needs of patients. For instance, in June 2011, Fibrocell Technologies, Inc. received approval from the U.S. Food and Drug Administration (FDA) for Azficel-T, which can be used for the treatment of nasolabial fold wrinkles.
Moreover, in November 2011, New York Blood Center, Inc. received approval from FDA for Hemacord. It is indicated for unrelated donor hematopoietic progenitor cell transplantation procedures and in patients with disorders affecting the hematopoietic system that are inherited, acquired, or results from myeloablative treatment in children. In October 2017, Kite Pharma received approval from the U.S. FDA for Yescarta (axicabtagene ciloleucel), which is used for the treatment of adults with large B-cell lymphoma. It was the first chimeric antigen receptor (CAR) T-cell therapy to receive FDA approval for large B-cell lymphoma.
Browse 35 Market Data Tables and 28 Figures spread through 164 Pages and in-depth TOC on Cell and Gene Therapy Market, by Therapy Type (Cell Therapy and Gene Therapy), by Indication (Cardiovascular Disease, Cancer, Genetic Disorders, Infectious Diseases, Neurological Disorders, and Others), by Scale of Operation (In-house and Outsourced), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026
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Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in June 2017, Johnson & Johnson acquired Actelion Ltd. Moreover, in October 2017, Gilead Sciences acquired Kite Pharma. Kite Pharma is involved in developing chimeric antigen receptor T-cell therapy, to recognize and attack malignant cells.
Key Takeaways of the Cell and Gene Therapy Market:
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