According to a recent report by TechSci Research titled “Global Cell & Gene Therapy Drug Delivery Devices Market By Type, Commercialized Drugs, Route of Administration, Method, Region, Competition Forecast & Opportunities, 2028″, the global cell & gene therapy drug delivery devices market is poised to experience substantial growth with an anticipated compound annual growth rate (CAGR) over the next five years. This growth can be attributed to the increasing number of patients suffering from chronic illnesses such as cancer, diabetes, and other genetic disorders. The cell and gene therapy sector of the healthcare industry is being strengthened by government aids and private funds, leading to significant advancements and ongoing research. The introduction of technologically advanced devices, coupled with active FDA approvals, is expected to be a major driving factor for market growth in the coming years.
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Growing Demand for Novel Treatments and Increased Biopharmaceutical Expenditure Drive Market Growth
The market is witnessing a surge in demand for the development of novel treatments, particularly for rare diseases. Additionally, the rising expenditure on biopharmaceutical research and development is expected to contribute to the market’s growth at the projected CAGR during the forecast period of 2022-2028. Furthermore, clinical trials and the exploration of the latest cell & gene therapies under the guidance of the Food & Drug Administration are important factors that will drive market growth in the next five years.
Cell & Gene Therapy: A Personalized Approach with Advanced Drug Delivery Systems
Cell and gene therapy involve the extraction of cells, proteins, and genetic material such as DNA from a donor, which are then modified to achieve the desired therapeutic outcome. This personalized therapy aims to utilize the genetic material’s ability to produce proteins that perform various functions in the human body. The DNA extracted from the cells is modified using techniques such as insertion, deletion, or replacement. The altered DNA multiplies, leading to the production of proteins that either serve as treatments for diseases or inhibit disease-causing proteins. Extensive research has resulted in the development of effective and long-lasting drug delivery systems, surpassing traditional medicines.
Market Segmentation and Key Players
The global cell & gene therapy drug delivery devices market is segmented based on type, commercialized drugs, route of administration, method, regional distribution, and competitive landscape. In terms of commercialized drugs, Luxturna, Kymriah, Yescarta, Zolgensma, Provenge, and Strimvelis are the key subdivisions. Luxturna, a prescription gene therapy product, is expected to dominate the market due to its effectiveness in treating inherited retinal diseases caused by genetic mutations. The growing number of patients suffering from retinal diseases is anticipated to support the sub-segment’s growth in the next five years. Kymriah, a genetically modified T-cell immunotherapy drug, is specifically used to treat relapsed B-cell precursor acute lymphoblastic leukemia in patients aged 25 years and above. Provenge, on the other hand, is a prescription medicine genetically modified to treat advanced prostate cancer in men. The FDA-approved commercialization of these genetically modified drugs will drive the market growth of cell & gene therapy drug delivery devices by increasing demand for these treatments.
Key Competitors and Strategies
Some of the major competitors in the market include Becton, Dickinson, and Company, Novartis AG, Amgen Inc., Kite Pharma, Inc., Pfizer, Inc., Bausch & Lomb Incorporated, Bluebird bio, Inc., Castle Creek Biosciences, Inc (Fibrocell Technologies, Inc.), Dendreon Pharmaceuticals LLC., Helixmith Co., Ltd (ViroMed Co., Ltd), Orchard Therapeutics plc, Renova Therapeutics, Spark Therapeutics, Inc., uniQure N.V., Vericel Corporation, among others. These top players have implemented strategic partnerships and investments in the research and development of technologically advanced products to strengthen their position in the competitive landscape of the market.
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“With an excellent service in healthcare industry and its technologically sound sector North American region is anticipated to dominate the market. Maximum number of top players are present in the same region in large economy like United States, and Canada. Also, the healthcare industry in these large economies possesses high adoption rate of the advanced cell & gene therapy procedure that are expected to drive the market growth. Top international players may seek opportunities in the Asia Pacific market since the region is practically untapped and the developing countries like India, China, are gaining awareness about the novel systems,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Cell & Gene Therapy Drug Delivery Devices Market By Type (Subretinal Injection Cannula, Extension Tube, Intravenous Catheter, Sterile Insulin Syringe, Prefilled Syringe, Infusion Bags) By Commercialized Drugs (Luxturna, Kymriah, Yescarta, Zolgensma, Provenge, Strimvelis) By Route of Administration (Oral, Intravenous, Ocular, Transdermal, Others) By Method (In Vitro v/s Ex Vivo) By Region, Competition Forecast & Opportunities, 2028”, has evaluated the future growth potential of global cell & gene therapy drug delivery devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global cell & gene therapy drug delivery devices.
Report Scope:
In this report, global cell & gene therapy drug delivery devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Cell & Gene Therapy Drug Delivery Devices Market, By Type:
- Subretinal Injection Cannula
- Extension Tube
- Intravenous Catheter
- Sterile Insulin Syringe
- Prefilled Syringe
- Infusion Bags
- Cell & Gene Therapy Drug Delivery Devices Market, By Commercialized Drugs:
- Luxturna
- Kymriah
- Yescarta
- Zolgensma
- Provenge
- Strimvelis
- Cell & Gene Therapy Drug Delivery Devices Market, By Route of Administration:
- Oral
- Intravenous
- Ocular
- Transdermal
- Others
- Cell & Gene Therapy Drug Delivery Devices Market, By Method:
- In Vitro
- Ex Vivo
- Cell & Gene Therapy Drug Delivery Devices Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
- North America
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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