Global Cell & Gene Therapy Manufacturing Services Market to reach USD 15.6 billion by 2027.Global Cell & Gene Therapy Manufacturing Services Market is valued at approximately USD 6.9 million in 2020 and is anticipated to grow with a healthy growth rate of more than 12.4 % over the forecast period 2021-2027. The rising incidence of cancer and other target diseases, increasing spending in pharmaceutical R&D, investments in sophisticated technologies by CDMOs, and increasing partnerships and agreements between pharmaceutical firms and CDMOs are all driving growth in this industry. The high operational expenses associated with cell and gene therapy manufacturing, on the other hand, are projected to limit the market's expansion to some extent. Most of pharmaceutical companies continue to make significant investments in the development of new medications and equipment. The pharmaceutical business is highly investing in in research and development to bring high-quality, innovative goods to market. The trend implies that major pharma companies are enhancing their R&D efficiencies by investing more in R&D in order to obtain long-term returns on their investment, as well as through collaborating on R&D. According to a survey published by EvaluatePharma, global pharmaceutical R&D spending was valued at USD 136 billion in 2012, which reached to USD 186 billion in 2019. The worldwide pharma R&D growth rate has slowed to 0.3 percent between 2019 and 2020 as a result of COVID-19. According to the conclusions of the analysis, R&D spending is predicted to expand at a CAGR of 3.2 percent between 2019 and 2026, reaching USD 232.5 billion, slower than the historical CAGR of 4.6 percent between 2012 and 2019. The number of cell and gene therapy candidates in development has risen dramatically as a result of increased pharmaceutical R&D. To produce cost-effective and efficient cell and gene therapies, it has become vital to outsource manufacturing services. However, high operational costs associated with cell & gene therapy manufacturing may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global Cell & Gene Therapy Manufacturing Services Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America is the leading region across the world in terms of market share due to rising incidence of cancer and growing research activity in cancer and stem cells in the region. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, A strong facility network coupled with a strong workforce in European countries is anticipated to further fuel the market growth.
Major market player included in this report are:
Thermo Fisher Scientific, Inc.
Charles River Laboratories
Takara Bio Inc.
FUJIFILM Holdings Corporation
F. Hoffmann-La Roche Ltd.
The Discovery Labs LLC
Cell and Gene Therapy Catapult
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End user:
Pharmaceutical & Biotechnology Companies
Academic & Research Institutes
Other End Users
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018-19
Base year - 2019-2020
Forecast period - 2021 to 2027.
Target Audience of the Global Cell & Gene Therapy Manufacturing Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers