Cell and Gene Therapy Market Size, Share, Growth Analysis, By Therapy Type (Cell Therapy, Gene Therapy), By Therapeutic class (Cardiovascular Disease, Cancer), By Delivery Method, By End-Users, By Region - Industry Forecast 2024-2031

Drivers

• Advancements in Gene Technologies

Genetic engineering and genome mapping technologies have a come a long way owing to high investments in gene research initiatives. These advancements from the gene world are now being integrated with oncology research to create novel cancer gene therapies thereby driving market growth as well.

Demand for Personalized Medicine

• Rapidly increasing demand for personalized medicine around the world is boosting the adoption of novel cell therapies as they are crucial in targeting specific characteristics of an individual. Cell therapies also help in identifying the efficacy of therapy on an individual to reduce the risk of rejection.

Restraints

• High Costs of Treatment

Getting cell and gene therapy is not possible for every patient as they are quite expensive owing to the use of advanced equipment and extensive development costs. These high costs result in limited accessibility to these advanced therapies for patients around the world and especially hurt market growth in developing countries.

• Limited Reimbursement

Since cell and gene therapies are quite new to the scene, most of these advanced therapies are not covered under medical insurance. Which means the patient has to pay for these expensive treatments out of their own pocket and this impedes adoption for patients with limited spending potential around the world.