Cell And Gene Therapy Clinical Trials Market Growth & Trends
The global cell and gene therapy clinical trials market size is expected to reach USD 24521.8 million by 2030, registering a CAGR of 14.80% during the forecast period, according to a new report by Grand View Research, Inc. Cell and gene therapy (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. During the pandemic, the majority of clinical studies were focused on COVID-19. However, owing to the decline in COVID-19 cases, the market players are now shifting their focus to the development of CGTs.
For instance, in February 2022, the life sciences company, Cytiva, collaborated with NecstGen to develop gene therapies. Such collaborations are likely to promote market growth post-pandemic. The market has witnessed significant growth over the past few years, with a rise in the CGT pipeline. As reported by Global Data, in March 2021, over 2,400 CGT drugs were in the pipeline, whereas in 2020 there were over 551 CGT drugs in the clinical phase. In addition, 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 for oncology treatment by Bristol-Myers Squibb for USD 74 billion. Such deals are likely to improve the market growth as CGT is gaining popularity in the treatment of life-threatening diseases. Research funding in CGT has improved in the post-pandemic period. For instance, in January 2022, researchers at the University of York received a grant of USD 3.1 million to support stem cell gene therapy research to treat sickle cell disease. In March 2022, researchers at the Indiana University School received funding of USD 12 million to develop safe gene therapy for treating hemophilia. Such investments are likely to have a positive impact on market growth.
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Cell And Gene Therapy Clinical Trials Market Report
Cell And Gene Therapy Clinical Trials Market Report Highlights
- The phase II segment accounted for the largest share in 2022 owing to a large number of therapies currently in development in phase II
- The oncology indication segment accounted for the largest share in 2022 as a high number of CGT trials are focused on the treatment of cancer
- North America dominated the global market in 2022. This is largely attributed to a large number of clinical trial activities in the U.S. and favorable government support
- Asia Pacific is expected to register the fastest CAGR over the forecast period owing to the increasing number of biotechnology companies focusing on CGTs
