Cell & Gene Therapy Manufacturing Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Cell & Gene Therapy Manufacturing Services Market: Overview
The cell & gene therapy manufacturing services market is majorly driven by rising agreements and partnerships between CDMOs and pharmaceutical companies. Other factors responsible for the growth in the cell & gene therapy manufacturing services industry include the increasing rate of investment in advanced technologies and pharmaceutical research and development activities. In addition, the cell & gene therapy manufacturing services industry is also growing on the back of increased incidents of cancer and other diseases.
The growth in the cell & gene therapy manufacturing services industry may be curtailed because of high operational costs. It may increase the overall cost of the service and may further limit the opportunities in the cell & gene therapy manufacturing services industry to some extent.
The sudden outbreak of the COVID-19 pandemic has adversely impacted the operations of different life science companies. The research and development activities have also been hampered because of the involvement of medical laboratories to study novel coronavirus. So, the market of cell & gene therapy manufacturing services has also been affected by this pandemic.
Cell & Gene Therapy Manufacturing Services Market: Key Trends
The majority of pharmaceutical companies from of cell & gene therapy manufacturing services market are investing a handsome amount for the development of new drugs and devices. These companies are conducting various research and development activities to deliver innovative and high-quality products in the cell & gene therapy manufacturing services industry.
As per the ongoing trends in the cell & gene therapy manufacturing services industry, intensive research and development are the keys in pharmaceutical companies. Even these companies are investing quite a good amount for the development and innovation in the industry. These R&D initiatives have resulted in a rapid increase in development in the cell & gene therapy manufacturing services industry. It has further created a requirement to develop efficient and cost-effective cell & gene therapies.
One major constraint in the growth of the cell & gene therapy manufacturing services market is coming from manufacturing units. The majority of facilities are in clinical trials. There is a crucial requirement for hundreds of facilities to manufacture the treatments that are under clinical trials. These factors may curtail the growth opportunities in the cell & gene therapy manufacturing services market. The manufacturing units need to accelerate their production capacity to boost demand in the cell & gene therapy manufacturing services industry.
Cell & Gene Therapy Manufacturing Services Market: Competitive Dynamics and Key Developments
The vector production is penetrating at a higher pace in terms of manufacturing services in the cell & gene therapy manufacturing services market. These vector services are used to treat different diseases such as ophthalmologic, infectious diseases, muscular, hematologic, metabolic, and cardiovascular. Different types of cancer are also treated with the help of cell & gene therapy manufacturing services.
To meet the market demand for viral vectors, CDMOs and different bio manufacturers, for instance, Lonza, Merck KGaA, Thermo Fisher Scientific, and others are investing a handsome amount. For example, French CDMO Yposkesi has invested around USD 71 million on June 15, 2021, for the expansion of its capacity to produce a viral vector. These initiatives are expected to bolster demand in the cell & gene therapy manufacturing services market.
Some of the key players in the cell & gene therapy manufacturing services market include:
Cell & Gene Therapy Manufacturing Services Market: Regional Assessment
Based on geography, the cell & gene therapy manufacturing services market has been segmented into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Among these regions, the North American market shares the largest portion in the cell & gene therapy manufacturing services industry. The increasing rate of research activities and growing incidence of cancer are responsible to bolster the demand for cell & gene therapy manufacturing services in the North American region. Europe and the Asia Pacific come next to North America in terms of growth prospects.
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