Europe Cell & Gene Therapy Market to Worth $15.15 Billion by 2028 – Germany to Contribute $3.44 Billion in the Next 6 Years
According to the latest focus insight reports by Arizton, the “Europe cell & gene therapy market - focused insights 2023-2028” sheds light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and the competitive landscape of the business. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current Europe cell and gene therapy market dynamics and prospects.
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The Europe cell and gene therapy market is projected to reach $15.15 billion in 2028, with a compound annual growth rate (CAGR) of 38.20% during the study period.
Europe is the second fastest-growing market for cell & gene therapy products globally, followed by North America. The cell & gene therapy market in Europe is growing at a healthy rate due to advanced healthcare infrastructure, high acceptance of cell & gene therapies, and high per capita healthcare expenditure in various developed countries of Europe. The market in Europe is growing gradually due to the presence of advanced healthcare infrastructure, high acceptance of cell & gene therapies, and high per capita healthcare expenditure in various developed countries of Europe.
Vendors are actively conducting clinical trials to gain regulatory approval in countries and regions with huge untapped potential. Vendors are majorly targeting the Europe markets and are actively conducting clinical studies to gain regulatory approval and extend their presence in these significant markets for cell & gene therapy products. The European market provides the required cell & gene therapy product development facilities, so major vendors are entering the European market.
In 2022, the cell and gene therapy market in the UK reached a valuation of $0.40 billion. Among the EU5 nations in 2022, the UK ranked third in market size, following Italy and Spain. Throughout the forecast period, the UK is poised to maintain a substantial market share within the EU5. The expansion of the cell and gene therapy market in the region can be attributed to factors such as an expanding target patient population, support from regulatory bodies, and improved healthcare accessibility facilitated by well-established healthcare infrastructure.
The growth of the cell and gene therapy market in France can be attributed to several factors, including an expanding target patient population, support from regulatory bodies, and enhanced healthcare accessibility due to well-established healthcare infrastructure. France boasts over ten leading biotech companies actively engaged in the cell and gene therapy market. Furthermore, France's substantial healthcare spending and advanced healthcare infrastructure are poised to drive market growth during the forecast period. The landscape of cell and gene therapy in France is gradually evolving, marked by multiple changes and the emergence of various new industrial platforms dedicated to manufacturing cell and gene therapy products.
The Germany Cell and Gene Therapy Market to Grow at a CAGR of 40.15% During the Forecast Period
Vendors see Germany as an emerging market for cell and gene therapies. The country is witnessing multiple product launches and acquisitions. For instance, bluebird Bio launched the first gene therapy for beta-thalassemia in Germany.
The launch of Kymriah in Germany was secured through a first-of-its-kind outcomes-based agreement. Under this agreement, Novartis will partly reimburse the cost of Kymriah, €320,000 per patient (pending negotiations), in the event a patient dies due to blood cancer within an agreed time frame.
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Vendors
Gene Therapy Vendors: Novartis, Gilead Sciences , Amgen, Roche, Orchard Therapeutics, BioMarin Pharmaceutical (BioMarin), PTC Therapeutics, Bristol-Myers Squibb (BMS), Legend Biotech, bluebird bio, Human Stem Cells Institute PJSC (HSCI)
Cell Therapy Vendors: Organogenesis, Smith & Nephew, CHIESI Farmaceutici, CollPlant, CO.DON, Takeda Pharmaceutical Company, Nipro, Vericel, and NuVasive
Key Emerging Investigational Vendors: Adaptimmune Therapeutics, AgenTus Therapeutics, Autolus Therapeutics, Cellectis, Celyad, CombiGene AB, Eukarys, FREELINE Therapeutics, Innoskel, Psioxus Therapeutics, Sparing Vision and UniQure
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