What factors drive the global cell and gene therapy tools market?

One drive is the rising prevalence of chronic diseases like cancer and diabetes.

Increased investment in research and development is accelerating the discovery and refinement of cell and gene therapies, with the global market projected to reach $16.7b by 2029 at a compound annual growth rate of 10.8%, said BCC Research.

The report revealed that the rising prevalence of chronic diseases such as cancer and diabetes is fuelling demand for these treatments.

Strategic collaborations and acquisitions amongst biotech firms, pharmaceutical companies, and research institutions further drive the sector, enabling the pooling of resources and expertise to enhance innovation.

Companies are also expanding manufacturing capacities to meet the growing demand, ensuring efficient and large-scale production.

Cell and gene therapies hold potential for treating various conditions, including cancer, autoimmune diseases, spinal cord injuries, type I diabetes, Parkinson’s disease, and Alzheimer’s disease.

The immunoassays segment is expected to dominate the market through 2029.