SAN FRANCISCO, May 12, 2021 /PRNewswire/ -- The global advanced therapy medicinal products marketsize is expected to reach USD 21.2billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.2% from 2021 to 2028.The ATMPs (Advanced Therapy Medicinal Products) exhibit the potential to cure diseases by addressing their root cause rather than symptomatic treatment. Thus, ATMPs help deliver transformative advantages which are not offered by conventional treatments. These factors are expected to drive the market over the forecast period.

Key suggestions from the report:

Read 225 page research report with ToC on "Advanced Therapy Medicinal Products Market Size, Share & Trends Analysis Report By Therapy Type (CAR-T, Gene, Cell, Stem Cell Therapy), By Region (North America, Europe, APAC, ROW), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/advanced-therapy-medicinal-products-market

The breakthrough approvals of Tecartus and Abecma post-approval of Zolgensma, Kymriah, and Yescarta have bolstered the exceptional advancements in this space. These approvals have spurred the investment flow in this arena thereby driving revenue growth. Key companies are adopting various operation models to accelerate the product manufacturing process.

Furthermore, the market witnessed several acquisitions by players that intended to enter or expand their existing business in this field. Acquisitions of Kite Pharma by Gilead Life Science, AveXis by Novartis, and Juno Therapeutics by Celgene are some major & recent examples. These acquisitions depict the increasing interest of well-established pharma companies in this market. Increasing competition for gene therapy buyouts can lead to hefty premiums.

On the other hand, with the growing consumer demands, the ATMP manufacturers are outsourcing their product manufacturing thereby creating lucrative opportunities for the contract manufacturing organizations. Thus, several CDMOs have expanded their facilities. For instance, in January 2021, FUJIFILM Diosynth Biotechnologies invested USD 40 million for the establishment of a new process development and manufacturing facility for advanced therapies and viral vectors.

Grand View Research has segmented the global advanced therapy medicinal products market on the basis of therapy type and region:

List of Key Players in Advanced Therapy Medicinal Products (ATMPs) Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Advanced Therapy Medicinal Products Market Size Worth $21.2 Billion By 2028: Grand View Research, Inc. - PRNewswire