Increased use of CGT products in disease treatment, funding for CGT in Europe

European Cell and Gene Therapy Market

Dublin, June 20, 2024 (GLOBE NEWSWIRE) — The “European Cell and Gene Therapy Market – Focused Insights 2024-2029” report has ResearchAndMarkets.com Recruitment.

The European cell and gene therapy market is expected to be valued at USD 2.26 billion in 2023 and reach USD 14.45 billion by 2029, growing at a CAGR of 36.24%.

The European Cell and Gene Therapy market report contains exclusive data on 36 vendors. The European Cell and Gene Therapy market is highly competitive due to an increasing number of biopharmaceutical companies developing new therapies. Moreover, increasing financial support and government initiatives for regenerative medicine and advanced medicines are giving impetus to the key players in the market.

The major market players in the European CGT market are Novartis, Gilead Sciences, Amgen, F. Hoffmann-La Roche, Orchard Therapeutics, BioMarin Pharmaceuticals, PTC Therapeutics, Bristol-Myers Squibb, Organogenesis, Smith & Nephew, Legend Biotech, CSL Ltd, Vertex Pharmaceuticals Inc, and Human Stem Cells Institute PJSC, which compete with the rapidly emerging market players in the market. Vendors in the market are expanding their market share through inorganic growth.

In 2023, Germany held the largest share of the European cell and gene therapy market with over 21%. Germany is at the forefront of cell and gene therapy due to significant investments by the public and private sectors, which are helping to drive the development of the country’s cell and gene therapy market. Germany is actively developing and testing innovative cell and gene therapy drugs that can bring significant benefits to patients.

Funding for CGT in Europe: In recent years, the growth in investment in CGT projects has been driven primarily by US companies. While the US market saw a 53% increase in CGT investment in 2021 compared to the previous year, funding in Europe fell by 8%. For European CGT development to catch up with the global trend, additional funding is needed to make up for the investment decline from 2021 onwards.

Further cooperation and investment from the European pharmaceutical market into CGT’s academic research projects is needed. Governments, including CGT, can encourage such cooperation and further investment to improve their position in the biopharmaceutical market. These efforts can influence further increases in private investment and talent in Europe, creating the necessary conditions for a turnaround in the European CGT market.

Increasing Use of CGT Products in Disease Treatment: Cell and gene therapy solutions treat various diseases. Genes can be replaced, inactivated and introduced into the body to help in diagnosing diseases. Cell and gene therapy are different methods of treating diseases. Some of the biggest advancements in cell and gene therapy have been in the field of oncology, leading to targeted and personalized treatments, which are positively impacting the market growth.

The story continues

Over the past few decades, various technologies and customized treatments have driven the demand for cell and gene therapy solutions. In disease diagnosis, cell therapy is mainly used for cancer, diabetes, genetic diseases, musculoskeletal diseases, eye diseases, and other diseases. According to the Medicine in Development report, there are approximately 250+ products in development stages targeting a wide range of diseases.

Insights into the European Cell and Gene Therapy Market

By product, the gene therapy segment accounted for the largest share of the Europe cell and gene therapy market in 2023. Increased research in gene therapy technologies and development is expected to drive the market growth. Rising application of gene therapy in disease diagnosis, increasing funding for gene therapy among small and medium-sized manufacturing enterprises, and surge in new drug applications will create new market space in the coming years.

The oncology application segment is showing significant growth and is the fastest growing at a CAGR of over 38% during the forecast period. High success rate of cell and gene therapy solutions for cancer, high application rate of cell and gene therapy products across various cancers, and rapidly increasing investments and developments in oncology regenerative medicine are driving the growth of this segment.

Hospital end-user segment: Increasing collaborations and partnerships between manufacturers and hospitals, shift from traditional hospital settings to gene therapy products, growing demand for advanced therapeutics over traditional therapies, and revenue generation opportunities for healthcare systems with in-house cell and gene therapy manufacturing are the key factors driving the growth of the hospital segment in the cell and gene therapy market.

Answers to key questions

• Who are the key players in the European cell and gene therapy market?

• Which region dominates the European cell and gene therapy market?

• What are the trends in the European cell and gene therapy market?

• What is the growth rate of the European cell and gene therapy market?

• How big is the European cell and gene therapy market?

Key attributes:

Competitive Environment

Key Vendors

Other Notable Vendors

Key Emerging Vendors

• Adaptimmune Therapeutics

• Agentus Therapeutics

• Autolus Therapeutics

• Selectis

• Serrado

• Combigene AB

• Eukaryotes

• Freeline Therapeutics

• Inoskel

• Cyoxus Therapeutics

• Save your vision

Segmentation and Prediction

• product

• application

  • Oncology

  • Genetic disorders

  • Dermatology

  • Musculoskeletal

  • others

• End-user

  • hospital

  • Cancer Care Center

  • others

For more information on this report, please visit: https://www.researchandmarkets.com/r/2v6meu

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