The Global Middle East And Asia Pacific Cell And Gene Therapy Market Growth Accelerated By Increasing Investments
The Middle East and Asia Pacific cell and gene therapy market consist of advanced therapies including gene editing, gene therapy, immunotherapy, and cellular therapy that can potentially cure chronic diseases including cancers, genetic disorders, and infectious diseases. The therapies offer personalized treatment through ex vivo or in vivo gene transfer which helps deliver corrected genes to treat disease-causing genes or modify cells.
The global Middle East And Asia Pacific Cell And Gene Therapy Market is estimated to be valued at Us$ 3600.53 Mn in 2023 and is expected to exhibit a CAGR Of 15% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing investments in cell and gene therapy manufacturing facilities and services are expected to accelerate the growth of the Middle East and Asia Pacific cell and gene therapy market over the forecast period. For instance, in February 2022, GenScript ProBio, a subsidiary of GenScript Biotech Corporation announced the establishment of a cell therapy CDMO facility (contract development and manufacturing organization) in South Korea. The facility will offer end-to-end cell therapy CDMO services including cell culture development, GMP cell banking, manufacturing, fill and finish, analytical testing, and distribution of cell therapy products. Such increasing investments are helping in scaling up the production of cell and gene therapies to meet the clinical and commercial demand, thereby positively impacting the market growth.
Segment Analysis
The Middle East and Asia Pacific cell and gene therapy market is dominated by gene therapy sub segment due to increasing prevalence of cancer and other genetic disorders in the region. Gene therapy offers permanent treatment to inherited genetic diseases by supplementing or manipulating genes. It is anticipated to witness highest growth over the forecast period owing to increasing research activities for developing advanced gene therapies for genetic disorders like cancer.
Key Takeaways
The Global Middle East And Asia Pacific Cell And Gene Therapy Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global Middle East and Asia Pacific Cell and Gene Therapy Market is estimated to be valued at US$ 3600.53 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market and is expected to grow at fastest rate of over 17% during the forecast period. Increasing prevalence of chronic diseases, rising investments in healthcare infrastructure and growing research activities are some major factors driving the growth of cell and gene therapy market in Asia Pacific region.
Key players related content comprises: Key players operating in the Middle East and Asia Pacific cell and gene therapy market are Codexis Inc., Abzena, Ltd., Enantis s.r.o, GenScript Biotech Corp., Waters Corporation, PerkinElmer, Inc., Bruker Corporation, Agilent Technologies, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc., among others.
Get more insights on this topic :
