Advanced Therapy Medicinal Product CDMO Market Growth & Trends

The global advanced therapy medicinal products CDMO market size is expected to reach USD 12.9 billion by 2028, according to the new report of Grand View Research, Inc. It is expected to expand at a CAGR of 12.0% from 2021 to 2028. The advanced therapy medicinal products are a group of biological products for human use that involve gene therapy products, cell therapy products, and tissue-engineered products. The growth of the market is credited to the increasing clinical trials of ATMP and the rising awareness and belief among researchers regarding the benefits of advanced therapy. The COVID-19 pandemic has significantly disrupted the cell and gene therapy industry due to the complexity in the manufacturing process.

The COVID-19 pandemic has adversely affected the overall medical industry, but the pandemic boosted the operations and development of advanced therapy due to the high requirement of the products such as mesenchymal stromal cells (MSCs) for the treatment of the virus. The regulations put forward by the FDA and government authorities have created a safe environment for the healthcare workers and allowed emergency approval for the supply of essential raw materials and faster development of the vaccines and other therapy products.

Technological advancement has been a major part of tissue engineering in the last few years. This method helps to replace or restore the injured tissues and organ function. Similarly, gene and cell therapy is attracting many patients for the treatment of rare diseases, the cases of which are augmenting globally.

Advanced Therapy Medicinal Product CDMO Market Report Highlights

  • By product, the gene therapy segment held the largest revenue share in 2020 due to the rising awareness regarding the treatment and increasing number of approvals
  • Based on phase, the phase III segment captured the largest revenue share in 2020 as this phase ensures the safety and efficacy of the drug, leading to a large volume of drug requirement
  • North America led the market in 2020 and is expected to maintain its lead in the market owing to technological advancements in treatment and increasing outsourcing activities in the region. Asia Pacific is expected to witness the highest growth over the forecast period
  • The market has been characterized by intense competition owing to the presence of leading players