SAN FRANCISCO, May 25, 2021 /PRNewswire/ -- The global cell and gene therapy clinical trials market size is expected to reach USD 45.4 billion by2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 22.3% from 2021 to 2028. Increasing funding, investments in research and development, and successful product launches are boosting the market growth.
Key suggestions from the report:
- 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
Read 120 page research report with ToC on "Cell And Gene Therapy Clinical Trials Market Size, Share & Trends Analysis Report By Phase (Phase I, Phase II, Phase III, Phase IV), By Indication (Oncology, CNS, Cardiology), By Region, And Segment Forecasts, 2021 - 2028' at:https://www.grandviewresearch.com/industry-analysis/cell-gene-therapy-clinical-trials-market
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.
Grand View Research has segmented the global cell and gene therapy clinical trials market based on phase, indication, and region:
- CGT Clinical Trials Phase Outlook (Revenue, USD Million, 2016 - 2028)
- Phase I
- Phase II
- Phase III
- Phase IV
- CGT Clinical Trials Indication Outlook (Revenue, USD Million, 2016 - 2028)
- Oncology
- Cardiology
- CNS
- Musculoskeletal
- Infectious diseases
- Dermatology
- Endocrine, metabolic, genetic
- Immunology & inflammation
- Ophthalmology
- Hematology
- Gastroenterology
- Others
- CGT Clinical Trials Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players of Cell And Gene Therapy (CGT) Clinical Trials Market
- IQVIA
- ICON Plc
- Covance
- Charles River Laboratory
- PAREXEL International Corporation
- Syneos Health
- Medpace Holdings, Inc.
- Novartis
- Novotech
- Veristat, LLC
Find more research reports on Medical Devices Industry, by Grand View Research:
- Gene Delivery Technologies Market - The global gene delivery technologies market size was estimated at USD 2.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028.
- Advanced Therapy Medicinal Products Market - The global advanced therapy medicinal products market size was valued at USD 7.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028.
- T-cell Therapy Market - The global T-cell therapy market size was valued at USD 4.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 20.2% from 2021 to 2028.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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