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.
Based on Commercialized Drugs, the Global Cell & Gene Therapy Drug Delivery Devices Market segments into:
Of them all, Luxturna & Yescarta overpowered the Global Cell & Gene Therapy Drug Delivery Devices Market in 2021.
Luxturna (voretigene neparvovec-rzyl) is an Adeno-Associated Virus (AAV) vector-based gene therapy. It is for the treatment of patients with confirmed biallelic RPE65 mutation-associated Inherited Retinal Dystrophy (IRD), which causes vision loss and even complete blindness in some patients.
This therapy has improved patients’ vision & their ability to move around obstructions, especially in low light, which is a crucial clinical advantage, reckoning the lack of legitimate treatments for this condition. Moreover, it shows acceptable safety levels and manageable side effects. Hence, owing to more benefits than risks associated with Luxturna, its demand is rapidly increasing worldwide.
On the other hand, Yescarta (Axicabtagene Ciloleucel) is a therapy for adult patients with Diffuse Large B-cell Lymphoma (DLBCL) & Primary mediastinal large B-cell lymphoma (PMBCL). The active substance of Yescarta is an engineered autologous T-cell immunotherapy product called Axicabtagene Ciloleucel, where a patient's T-cells get harvested, and Ex Vivo genes are modified by retroviral transduction using a retroviral vector.
This therapy has shown to be highly effective at clearing cancer in many patients with DLBCL & PMBCL that were not responding to previous treatment. The number of patients who got free from cancer or had even a little response was more than those getting conventional care. A few severe side effects, particularly cytokine release syndrome, are manageable if relevant measures are followed. Hence, the increasing demand for Yescarta therapy also contributed to the overall market growth in the previous year, states MarkNtel Advisors in their research report, “Global Cell & Gene Therapy Drug Delivery Devices Market Analysis, 2022.”
Based on the region, the Global Cell & Gene Therapy Drug Delivery Devices Market expands across:
Of all the regions, North America attained more than 50% of the revenue share and is anticipated to prevail the same trend in the forecast period. It owes to the mounting number of collaborations between several small & medium enterprises and numerous conglomerates to develop cost-effective & high-quality medicines that most people can afford.
Moreover, the surging incidences of neurodegenerative problems and soaring demand to discover suitable treatments for gene disorders through research, diagnostics, & synthetic biology is another crucial aspect that contributed to the regional market growth.
In the region, the US is expected to display the fastest market growth over the forecast years. It owes to regulatory bodies like the Centre for Biologics Evaluation & Research (CBER) present in the country that focus on cell & gene therapy devices and provides scientific & regulatory advice to researchers & manufacturers for new product developments.
The factors that are projected to drive the market in the coming years include the following:
The high costs associated with the manufacturing of cell & gene therapies is the most prominent aspect that might hinder the growth of the Global Cell & Gene Therapy Drug Delivery Devices Market in the coming years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Cell & Gene Therapy Drug Delivery Devices Market is projected to grow at around 14% CAGR during 2022-28.
A. The mounting demand for Luxturna & Yescarta is likely to provide lucrative opportunities for the leading players in the Global Cell & Gene Therapy Drug Delivery Devices Market during 2022-28.
A. The surging demand to devise various strategies for appropriate treatment of rare diseases and mounting prevalence of various genetic disorders and infectious & chronic diseases are the most prominent factors expected to drive the market in the coming years.
A. The after-effects of the Covid-19 pandemic are infusing the demand for cell & gene therapy drug delivery devices owing to the increasing investments in R&D toward developing Covid-19 vaccinations with mRNA or viral vector approaches. Hence, in the forecast years, the leading market players are likely to witness lucrative growth opportunities in terms of revenue.