CGT CDMO market is likely to reach $10.11 billion by 2026 from $1.52 billion in 2019, at a CAGR of 31%
SANTA CLARA, Calif., Nov. 30, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Supply Chain Optimization and Decentralized Manufacturing to Expand the Contract Cell and Gene Therapy Manufacturing Market, 2020–2026, finds that aggressive investments in manufacturing technology and capacity are essential to fully harness the curative potential of the cell and gene therapy (CGT) segment. This enables operational efficiency gains and reduces project costs, generating benefits that can be transferred directly to patients. The increase in the number of assets in clinical development and rising capital flow from larger pharmaceuticals, equity investors, and federal agencies drive growth for the CGT contract development and manufacturing organization (CDMO) market. The buoyant CGT CDMO market is likely to witness almost a seven-fold growth, reaching $10.11 billion by 2026 from $1.52 billion in 2019, up at a staggering compound annual growth rate (CAGR) of 31%.
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"The need for reproducible, scalable, and economical production of cell and gene therapies is creating a demand for digital bioprocessing technologies," said Nitin Naik, Global Life Sciences Vice President at Frost & Sullivan. "These technologies are critical to realize the true commercial potential of cell and gene therapies in the next two to three years and serve as a conduit to improve market access and control the total cost of therapy."
Naik added: "From a market segment perspective, while the stem cell market is lucrative, the highest growth is expected to be in gene-modified cell therapies, with a pipeline of 269 products,* followed by gene therapies, which account for 182 assets in the pipeline.* Further, although allogeneic stem cell therapies dominate the marketed product catalogs, interest in disease-modifying CAR-T therapies, which are largely autologous, is driving demand for the evolution of manufacturing technologies, models, and capacity expansion investment by CDMOs." (*as of August 2020)
To tap into the growth prospects exposed by the CGT market, companies must focus on:
Supply Chain Optimization and Decentralized Manufacturing to Expand the Contract Cell and Gene Therapy Manufacturing Market, 2020–2026 is the latest addition to Frost & Sullivan's Healthcare research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Supply Chain Optimization and Decentralized Manufacturing to Expand the Contract Cell and Gene Therapy Manufacturing Market, 2020–2026
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