January 26, 2021 05:38 ET | Source: Emergen Research

Vancouver, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The global cell and gene therapy market is projected to reach a market size of USD 7,250.0 Million by 2028 at a rapid and steady CAGR of 16.3% over the forecast period, according to most recent analysis by Emergen Research. The growing demand for cell and gene therapy can be attributed to increasing investments in production capacity expansion for cell and gene therapy. Several contract development & manufacturing organizations and contract manufacturing organizations are making huge investments in the expansion of cell and gene therapy production capacity, anticipating a rise in demand for their services from biopharmaceutical companies that emphasize the development and production of emerging therapeutic technologies.

For instance, in May 2019, CDMO Catalent invested USD 1.20 billion in Paragon Bioservices, a contract development & manufacturing organization involved in developing and producing viral vector development for gene therapy. In April 2019, Paragon Biosciences had commenced its second good manufacturing practices (GMP) gene therapy production facility in Harmans, Maryland, the US, to provide customized manufacturing set-ups to manage the specific requirements for gene therapy products.

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Cell and Gene Therapy Market Size to Reach USD 7,250.0 Million by 2028 | Increasing Investments in Production Capacity Expansion for Cell and Gene...