Cell And Gene Therapy Market: By Therapy Type (Cell Therapy (CAR-T Cell Therapy, Stem Cell Therapy, and Tumor Infiltrating Lymphocyte (TIL) Therapy), Gene Therapy (Gene Augmentation, Gene Editing, and Gene Slicing)), By Therapeutic Area (Oncology, Rare Disease, Neurological Disorders, Cardiovascular Diseases, and Others), By Delivery Method (In-Vivo, and Ex-Vivo), By End User (Hospitals and Specialty Clinics, Academic Research Institutions, and Biotechnology and Pharmaceutical Companies), and Geography

Cell and Gene Therapy Market was valued at USD 23,189.2 million in 2023 and is poised to grow at a CAGR of 20.4% from 2024 to 2030. The Cell and Gene Therapy Market is experiencing a paradigm shift, offering transformative treatment options for a wide range of diseases. Several key drivers are propelling this market forward, fostering innovation and promising significant growth in the coming years. Cell and gene therapies offer a more personalized approach to treatment, potentially leading to improved efficacy and reduced side effects compared to traditional therapies. Also, the high unmet medical needs in rare diseases incentivize investment and research efforts in developing gene therapies for these patient populations. Moreover, the field of cell and gene therapy is experiencing rapid scientific advancements that are leading to more effective and safer therapies.

Tools like CRISPR-Cas9 allow for more precise and efficient genome editing, paving the way for safer and more targeted gene therapies. The Vectors are used to deliver genetic material into cells. Advancements in vector development are focusing on improving efficiency, safety, and targeting capabilities. Also, streamlining the manufacturing process for both cell and gene therapies can reduce costs and improve scalability, making these therapies more accessible to patients. Furthermore, the regulatory agencies are implementing faster approval processes for breakthrough therapies with high unmet medical needs. This allows for quicker access to these potentially life-saving treatments for patients. However, both cell and gene therapies involve intricate manufacturing processes, often requiring specialized facilities, skilled personnel, and stringent quality control measures. This complexity contributes significantly to the cost.

Cell And Gene Therapy Market Key Developments:

• In October 2022, Alexion's genomic medicines acquired LogicBio's technology, to incorporate knowledgeable team for preclinical development, and team for research and development on rare diseases. LogicBio has advanced several technical systems for the delivery and insertion of genes to address genetic disorders.
• In October 2022, Moderna revealed that Merck(MSD) has decided to exercise its $250 million option to co-develop and commercialize PCV mRNA-4157/V940. The vaccine is presently being tested in a phase II clinical trial as adjuvant therapy for patients with high-risk melanoma in combination with pembrolizumab, Merck's programmed cell death protein 1 (PD-1) antibody.