Cell and Gene therapy market to grow by $6.56b through 2028

High cost is a major challenge.

The global cell and gene therapy market is projected to expand by $6.56b, reflecting an estimated compound annual growth rate of 14.76% from 2024 to 2028, according to Technavio.

In a statement, Technavio said the increasing prevalence of chronic diseases is driving the growth, with a trend towards strategic alliances. The expansion was also attributed to advancements in technologies that enhance the treatment landscape for various conditions.

The market covers Gene Therapy for Neurology, Hepatology, Cardiovascular disease, and other areas. Advanced therapies such as Gene Silencing and Cell Replacement are also emerging. Key focus areas include Single-use Technology, Apheresis, Biomanufacturing, and Clinical Pipelines.

However, the market is still facing some challenges, such as high costs due to stringent clinical trial regulations in developed countries. The cost of clinical trials ranges from $1.5b for cell therapy to $2b for gene therapy.

“These factors may hinder the growth of the global cell and gene therapy market,” said Technavio.

Overall, Technavio is optimistic the market has the potential for advanced targeted therapies, Gene silencing, and Cell replacement/augmentation.