Cell And Gene Therapy Clinical Trials Market Size Is Expected To Reach USD 45.4 Billion by 2028

 Cell And Gene Therapy Clinical Trials Market Growth & Trends

The global cell and gene therapy clinical trials market size is expected to reach USD 45.4 billion by 2028, 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.

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.

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Cell And Gene Therapy Clinical Trials Market Report Highlights

• 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

Access Press Release@ https://www.grandviewresearch.com/press-release/global-cell-gene-therapy-clinical-trials-market

CGT Clinical Trials Market Segmentation

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
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • India
  • Japan
  • China
  • 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

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.