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Global Cell and Gene Therapy (CGT) CDMO Market is anticipated to witness a healthy CAGR of 25% to reach $5 billion by 2025
Medi-Tech Insights: The global Cell and Gene Therapy CDMO market is driven by growing burden of cancer and other targeted diseases, rapidly expanding research on CGTs, substantial funding by VCs and technological innovations.
BRUSSELS, Belgium, May 09, 2022 (GLOBE NEWSWIRE) --
Description:
Robust CGT pipeline with growing number of product approvals, strong support from large pharma and biotech, and consistent investor enthusiasm (~$20 bn raised in 2020) is set to boost the demand for CGT services. A growing pipeline of therapies are nearing regulatory decisions. Out of 1,220 ongoing clinical trials in 2020, 152 were in Phase 3 — FDA and EMA predict approval of 10-20 cell and gene therapies each year by 2025.
Growing Demand for Full-service/One-stop-shop CDMOs
Full-service CDMOs that can assist with both development and manufacturing are in utmost demand. Much of the CGT development as of late has been from smaller biotech companies or research universities who rely on CDMOs from preclinical development through packaging.
“There is growing demand for Cell and Gene Therapy CTDMOs who can offer integrated development, manufacturing, and testing services. For CGT companies, outsourcing manufacturing and testing operations to a capable CTDMO can reduce development timelines, provide supplementary capacity, and ultimately control costs.” - Senior Director, Tier 1 CGT CDMO, United States
Substantial Outsourcing in CGT Industry due to Lack of Internal Capabilities
The current level of outsourcing in CGT exceeds 60% which is far above the level of outsourcing seen in overall pharma/biologics field. Cell & Gene therapy is a complex field requiring high level of expertise. Also, it has costly production and different manufacturing process/infrastructure requirements as compared to traditional small molecules. Big pharma currently lacks production-ready infrastructure and are increasingly looking for CGT CDMOs to enter/expand their presence in fast-growing CGT CDMO market. Moreover, rising influx of small biotechs in the CGT market with limited/no manufacturing capabilities and/or development expertise further provides growth opportunities.
Geographic Overview: Cell and Gene Therapy CDMO Market
North America is expected to witness fastest growth and continue its dominance in the coming 5 years owing to growing manufacturing capacity for CGTs, favorable regulatory approval process, growing CGT approvals per year, and strong product pipeline of CGTs in US.
Competitive Landscape Analysis: Cell and Gene Therapy CDMO Market
The global CGT CDMO market is marked by the presence of both established players and several small and mid-sized players. The leading players are Lonza, Catalent, Patheon, Wuxi Advanced Therapies and Charles River Laboratories. Other promising players include Vive Biotech, SK Bioscience, Fujifilm, Vibalogics, Exothera, Takara, Oxford Biomedica, Viralgen and AGC Biologics etc.
Explore Detailed Insights on Cell and Gene Therapy (CGT) CDMO Market @ https://meditechinsights.com/cell-and-gene-therapy-cdmo-market/
About Us:
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Healthcare IT, MedTech & Pharma Services.
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Medi-Tech Insights
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