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GlobalData, a leading data and analytics company, unveiled a report signaling the imminent prominence of Cell and Gene Therapy (CGT) as the most impactful trend in the pharmaceutical industry for the upcoming year. The report, derived from a survey of 115 healthcare professionals, revealed that 18% of industry experts believe CGT will hold sway, followed closely by personalized/precision medicine at 16%.
Urte Jakimaviciute, Senior Director of Market Research at GlobalData, underscored the transformative potential of CGT within the healthcare landscape. She highlighted the unexplored territory in this domain, emphasizing that while still relatively nascent, cell and gene therapies portend revolutionary treatments for an array of intricate diseases, from genetic conditions to various forms of cancer.
Despite the burgeoning promise, GlobalData cautioned about the challenges facing CGT, including escalating development and production expenses, risks of clinical trial setbacks, and mounting pricing and reimbursement pressures. Jakimaviciute elaborated on industry strategies to offset these challenges, citing examples such as Bayer’s recent collaboration with Shanghai Pharmaceuticals China to establish a CGT and cancer drug development lab. This collaboration capitalizes on lower R&D costs in markets like China, emerging as robust contenders in CGT development.
The report’s estimations project the global CGT market to burgeon to $80 billion by 2029, with oncology retaining a dominant role, accounting for 44% of the CGT market. Jakimaviciute emphasized that while oncology continues to lead in approved applications, the adaptability of CGT extends its potential to various acquired and inherited diseases across neurodegenerative, autoimmune, and cardiovascular realms.
The findings spotlight the transformative power of CGT and its capacity to revolutionize treatment paradigms across diverse medical landscapes, hinting at a dynamic future where innovative therapies could offer groundbreaking solutions to complex diseases beyond cancer.
