Cell & gene therapies involve the extraction of protein, cells, or genetic material from the patient, modifying them, and then re-injecting into the patient to provide a highly personalized treatment. These therapies have immense potential to display long-lasting effects. In addition, the overall accuracy & ability to eliminate cancer cells without damaging healthy tissues is increasing rapidly worldwide, which, in turn, is propelling the demand for these therapies & their drug delivery devices.
The Global Cell & Gene Therapy Drug Delivery Devices Market is anticipated to grow at a CAGR of around 14% during the forecast period, i.e., 2022-28, says MarkNtel Advisors. The market is driven primarily by massive funding by numerous leading players in the technological advancements to bring cost-effective therapies & devices, coupled with the increasing number of FDA approvals for cell & gene therapies & clinical trials.
Furthermore, the rising number of FDA Approvals of Cell & Gene Therapies and clinical trials to develop new medical products and provide patients with increased therapeutic choices shall also boost the market in the coming years, further states the research report, "Global Cell & Gene Therapy Drug Delivery Devices Market Analysis, 2022."
|Study Period||Historical Data: 2018-20|
|Base Year: 2021|
|Forecast Period: 2022-28|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain|
|Asia-Pacific: China, India, Japan, South Korea|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Saudi Arabia, Qatar, Israel, South Africa|
|Key Companies Profiled||Amgen Inc., Bausch & Lomb Incorporated, Becton, Dickinson and Company, Bluebird bio Inc., Castle Creek Biosciences, Inc. (Fibrocell Science, Inc.), Dendreon Pharmaceuticals LLC, Helixmith Co. Ltd (ViroMed Co., Ltd), Human Stem Cells Institute, Kite Pharma Inc., Kolon TissueGene, Inc., Novartis AG, Orchard Therapeutics plc., Pfizer Inc., Renova Therapeutics, Spark Therapeutics Inc., uniQure N.V., Vericel Corporation|
|Unit Denominations||USD Million/Billion|
Covid-19 Severely Impacted the Global Cell & Gene Therapy Drug Delivery Devices Market
Last year, the outbreak of the Covid-19 made a decelerating impact on most industries where the Global Cell & Gene Therapy Drug Delivery Devices Market was no exception.
The market dynamics underwent significant disruptions in manufacturing & logistics processes and faced substantial complexities in the supply chain of materials. Owing to this, many clinical centers had to suspend their operations to combat the risk of virus exposure. Moreover, shipment delays risked the short shelf lives of cell therapies that need transportation across manufacturing sites & administration centers within tight timeframes.
However, observing the increasing spread of the dreadful disease, market players shifted their focus majorly on addressing challenges associated with the pandemic. Numerous gene therapy companies got involved in the research & manufacturing of Covid-19 vaccinations since the currently available ones are authorized for clinical development & based on mRNA or viral vector approaches. As a result, prices & reimbursements of Competitive Generic Therapy (CGTs) expanded significantly.