Visiongain has published a new report on Global Advanced Therapy Medicinal Products (ATMP) Market Report Forecast 2021-2031. Forecasts by Therapy Products ($ Bn), Plus Profiles of Leading ATMP Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global ATMP market was valued at US$ 12.36 billion in 2021 and is projected to reach at a market value of US$ 59.91 billion by 2031. Currently, the ATMP market is at a nascent stage and is expected to flourish during near future owing to increasing research and development activities and rising use of ATMP therapy products in treatment areas with low or no alternative treatment options support the market growth. In addition, advancements in biological therapies, rising preference for personalised medicine and developing application areas are some of the other factors driving the growth of the market.
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COVID-19 Impact on Global ATMP Market
The impact of COVID-19 pandemic is there on almost all the sectors and assessing its impact on the market would be uncertain as there is no knowledge about how long this pandemic stay would. Visiongain believes that considering all the factors there can be four scenarios in which the global market can react to the current crisis and that can be ‘V’ shaped recovery, ‘U’ shaped recovery, ‘L’ shaped recovery and ‘W’ shaped recovery. The functioning of the ATMP was regular during the pandemic situation as the patients continued to benefit from the cell and gene therapies. In addition, the clinical progress of ATMP also continued but with new obstacles caused due to the pandemic and its effects. Many global ATMP companies reported challenges in clinical trial execution, including patient recruitment, enrolment, data collection and/or follow-up. In addition, managing and reacting to the ongoing public health crisis caused by COVID-19 has become the priority for many policymakers, regulators, and public sector payors. Thus, this could result in a delay for cell, gene, and tissue-based therapy product candidates outside of the COVID-19 space.
How the Global ATMP Market report helps you
In summary, our 380-page report provides you with the following knowledge:
• Revenue forecasts to 2031 for Global ATMP Market, with forecasts for Therapy Products, each forecasted at a global and regional level– discover the industry’s prospects, finding the most lucrative places for investments and revenues
• Revenue forecasts to 2031 for 5 regional and 20 key national markets – See forecasts for the ATMP market in North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, Spain, China, India, Japan, and Australia among other prominent economies.
• Prospects for established firms and those seeking to enter the market– including company profiles for 12 of the major companies involved in the Global ATMP Market. Some of the company’s profiled in this report include Bluebird bio, Inc., Gilead Sciences, Inc., JCR Pharmaceuticals, Co. Ltd., MEDIPOST, PHARMICELL Co. Ltd., Spark Therapeutics, Vericel Corporation and others.
Regulations of ATMP is at a very initial stage and is constantly developing. Manufacturers are continuously engaged in working on investigational new drug (IND) application for the treatment of niche and rare diseases. In addition, there is a rising use of advanced therapy medicinal products among the patients suffering from life-threatening diseases owing to its ability to improve quality of life and health of the patient. Advanced therapies are recommended for those rare diseases which have very little or no alternative treatment options. Thus, positive impact of the treatment option on the health of the patients is one of the prime factors driving the growth of the advanced therapy medicinal products market during the forecast period.
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The prevalence of various chronic diseases such as diabetes, cancer, cardiovascular diseases and genetic diseases such as cystic fibrosis and others is rising globally. Cardiovascular diseases are the most prevalent cause of death worldwide. According to a report published by the W.H.O (World Health Organization) cardiovascular diseases will cause approximately 25 million deaths by 2030. Rising prevalence of lifestyle habits such as growing number of global smokers, rising incidences of obesity and dietary irregularities are responsible for the growth of cardiovascular disease prevalence in the world. Furthermore, the number of congenital heart disease patients is on a constant rise and this acts as a growth driver for the market.
Trends in ATMP development offer opportunities to the manufacturers owing to increasing health benefits. Biologics account for around a third of pharmaceutical pipelines - this proportion will rise strongly in the coming 10 years. Although the majority of these new advanced therapy products are being developed in the US and EU, companies will look to take advantage of low-cost clinical trials in emerging markets. Other drug development trends include the increased development of highly potent, targeted products for chronic indications, such as cancer, lung cancer and other. The increased development in treatment areas where there are less or no treatment options. The additional variability means smaller providers can compete by offering specialised services. CMOs in the US and EU will benefit from these development trends, as these companies have the greatest experience in manufacturing potent products.
Some of the key players operating in the global ATMP market are Gilead Lifesciences, Spark Therapeutics, Inc., Celgene Corporation, PHARMICELL Co., Ltd., Organogenesis Ltd., MEDIPOST, JCR Pharmaceuticals, Co., Ltd. among others. These key players are focusing on developing and commercialising key and innovative therapy products in critical application areas helps them to gain competitive advantage in this lucrative market. Also, many companies are marking their presence in this emerging market with the acquisition of small and emerging companies engaged in developing advanced therapy medicinal products.
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