CHICAGO, July 20, 2021 /PRNewswire/ -- According to the new market research report "Cell and Gene Therapy Manufacturing Services Market by Type (Allogeneic, Autologous, Viral Vector, Non-viral vector), Indication (Cancer, Orthopedic), Application (Clinical, Commercial), End User (Pharma & Biotech, Academia) - Global Forecast to 2026", published by MarketsandMarkets, the global cell therapy manufacturing services market size is projected to reach USD 13.8 billion by 2026 from USD 7.7 billion in 2021, at a CAGR of 12.4% during the forecast period.
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The Growth in this market is primarily driven by the high incidence of cancer and other target diseases, increasing investments in pharmaceutical R&D, investments in advanced technologies by CDMOs, and increasing partnerships & agreements between pharmaceutical companies and CDMOs. However, the high operational costs associated with cell & gene therapy manufacturing are expected to restrain the growth of this market to a certain extent.
The cell therapy segment accounted for the largest share of the type segment in the Cell and Gene Therapy Manufacturing Services Market in 2020.
On the basis of type, the gene therapy manufacturing services market is broadly segmented into cell therapy and gene therapy. In 2020, cell therapy accounted for the largest share of the market. This can primarily be attributed to factors such as increasing awareness about cell therapy, growing funding for new cell lines, increasing partnerships and acquisitions, and the development of advanced genomics methods for cell analysis.
The clinical manufacturing segment accounted for the largest share of the application segment in the Cell and Gene Therapy Manufacturing Services Market in 2020.
Based on application, the cell therapy manufacturing services market is categorized into two segments-clinical manufacturing and commercial manufacturing. The clinical manufacturing application segment accounted for the largest share of the market in 2020. The key factor driving this segment's growth are increasing awareness about cell therapy, growing funding for new cell lines, increasing partnerships and acquisitions, and the development of advanced genomics methods for cell analysis.
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The Asia Pacific region is the fastest-growing region of the Cell and Gene Therapy Manufacturing Services Market in2020.
In 2020, Asia Pacific region accounted for the fastest-growing region of the gene therapy manufacturing services market. The high growth of this segment can be attributed to the increasing pharmaceutical R&D spending, the growing trend of outsourcing drug discovery services, growing life sciences research, and increasing government initiatives for healthcare research.
Some of the prominent players in the Cell & Gene Therapy Manufacturing Services Market are Thermo Fisher Scientific (US), Merck KGaA (Germany), Charles River Laboratories (US), Lonza (Switzerland), Catalent (US), WuXi AppTec (China), Takara Bio Inc. (Japan), Nikon Corporation (Japan), FUJIFILM Holdings Corporation (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), Oxford Biomedica plc (UK), and Cell and Gene Therapy Catapult (UK).
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