According to BIS Research, cell and gene therapy drug delivery devices are the medical devices and equipment that are used for dispatching the cell and gene therapy drugs into the human bodies and various systems. They are specifically developed for delivering specific drugs according to the various administration techniques. These cell and gene therapy drug delivery devices are used for the therapeutic treatments and entire recovery procedure. The drug delivery devices of various commercialized cell and gene therapies include prefilled syringes, sub retinal cannula, infusion bags, and catheters.
Cell and gene therapy drug delivery industry is a transformative industry whose full potential is only just beginning to emerge. Cell and gene therapy involves the extraction of cells, protein, or genetic material (DNA) from the donor, and altering them to provide highly personalized therapy. Cell and gene therapies may offer longer-lasting effects than traditional medicines. One of the significant drugs of the cell and gene therapy industry is CAR-T cell-based medicines, which include both cell therapy and gene therapy. Various market players are actively investing in the research and development of the cell and gene therapy industry. The players are offering improved and new products, which meet the critical needs of patients. The global cell and gene therapy drug delivery devices market was valued at $55.75 thousand in 2019, and is expected to reach $375.13 thousand by 2030, registering a CAGR of 16.61% during the forecast.
The growth is attributed to major drivers in this market such as increasing prevalence of cancer and chronic diseases, increased funding in cell and gene therapy market, rising need to develop novel treatment options for rare disease, and rising biopharmaceutical RD expenditure, and rising number of the FDA approvals of cell and gene therapies clinical trials. The market is expected to grow at a significant growth rate due to various potential opportunities of growth that lie within its domain, which include drug approvals and strong pipeline of cell and gene therapies.
Various new cell and gene-based therapy approaches use biological engineering to improve the immune system’s capacity to fight disease while sparing healthy tissues in the body. For instance, there are antibody-based therapies that can make T-cells more effective by increasing their interactions with cancer cells. Other modifications, such as adding complexity to the CAR-T and cancer cell interaction, which can further sharpen T-cells’ cancer-targeting ability by reducing damage to normal cells. The increase in geriatric population and increasing number of cancer cases, and genetic disorders across the globe are expected to translate into a significantly higher demand for cell and gene therapy drug delivery devices market.
Competitive Landscape
The exponential rise in the application of precision medicine on a global level has created a buzz among companies to invest in the development of novel cell and gene therapy drug delivery devices. Due to the diverse product portfolio and intense market penetration, Novartis AG, Kite Pharma Inc., and Dendreon Pharmaceuticals LLC. have been the pioneers in this field and been the major competitors in this market. The other major contributors of the market include companies such as Vericel Corporation, Amgen Inc., Bausch Lomb Incorporated, Spark Therapeutics, Inc., and Becton, Dickinson and Company.
Based on region, North America holds the largest share of cell and gene therapy drug delivery devices market due to substantial investments made by biotechnology and pharmaceutical companies, improved healthcare infrastructure, rise in per capita income, early availability of approved therapies, and availability of state-of-the-art research laboratories and institutions in the region. Apart from this, Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period.
Key Questions Answered in this Report:
• What are cell and gene therapy drug delivery devices?
• What is the list of commercialized cell and gene therapies available in the market?
• How did the cell and gene therapy drug delivery devices market evolve, and what is its scope in the future?
• What are the major market drivers, challenges and opportunities in the global cell and gene therapy drug delivery devices market?
• What are the key developmental strategies that are being implemented by the key players to sustain in this market?
• How did the emerging technology landscape of cell and gene therapy drug delivery devices look like?
• What will be the impact of COVID-19 on this market?
• What will be the impact of COVID-19 on cell and gene therapy drug delivery devices companies?
• What will be the impact of COVID-19 on supply chain of cell and gene therapy drug delivery devices market?
• What are the guidelines implemented by different government bodies to regulate the approval of cell and gene therapy drug delivery devices market?
• How the investments by government organizations will affect the global cell and gene therapy drug delivery devices market?
• What was the market size of the leading segments and sub-segments of the global cell and gene therapy drug delivery devices market in 2019?
• How will the industry evolve during the forecast period 2020- 2030?
• What will be the growth rate of the cell and gene therapy drug delivery devices market during the forecast period?
• How will each of the segments of the global cell and gene therapy drug delivery devices market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2030?
• Which product segment, and commercialized drug segment is expected to register the highest CAGR for the cell and gene therapy drug delivery devices market?
• What is the market size of cell and gene therapy drug delivery devices market in different countries of the world?
• Which geographical region will contribute to the highest sales of cell and gene therapy drug delivery devices market?
• What are the reimbursement scenario and regulatory structure for the cell and gene therapy drug delivery devices in different regions?
• What are the key strategies incorporated by the players of global cell and gene therapy drug delivery devices market, to sustain the competition and retain their supremacy?
Request Sample - https://bisresearch.com/requestsample?id=1078type=download
Furthermore, the companies are investing huge amount in research and development of cell and gene therapies and associated drug delivery devices products. The clinical trial landscape of various genetic and chronic diseases has been on the rise in the recent years, this will fuel the cell and gene therapy drug delivery devices market in future.
Within the research report, the market is segmented based on product type, commercialized drugs, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
BIS Related Studies
CRISPR Gene Editing Market - A Global and Regional Analysis