Advanced Therapy Medicinal Products Market Segment Has Witnessed Significant Traction Over The Past Years

 Advanced Therapy Medicinal Products Industry Overview

The global advanced therapy medicinal products market size was valued at USD 7.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028. The emergence of Advanced Therapy Medicinal Products (ATMPs) has transformed the pharmaceutical industry and disease treatment landscape. It has opened new routes for the treatment of incurable diseases and several cancer types. The success of products such as Kymriah, Zolgensma, and others is the key factor driving the market.

The COVID-19 pandemic has triggered the application of advanced therapies in virology research to a major extent. A study was issued in December 2020 which stated the potential of T-cell therapy for the treatment of high-risk COVID-19 infected individuals. Prior to this, in September 2020, the U.S. FDA has approved the ALVR109 (an allogeneic T-cell therapy IND application) designed for the treatment of COVID-19 patients. This is anticipated to drive investment in R&D of advanced therapy for SARS-CoV2 infections. Furthermore, a growing number of Mesenchymal Stromal/Stem Cells (MSCs) based clinical trials have been registered recently as a new treatment paradigm for SARS-CoV-2 infection. These therapies have shown promising results as the treatment modality in research programs, further supplementing the marketspace's organic revenue generation.

Gather more insights about the market drivers, restrains and growth of the Global Advanced Therapy Medicinal Products market

Although the market for advanced therapy medicinal products is currently in its nascent stage, it is continuously growing. Conventional drug manufacturers striving to gain a competitive edge are considering ATMPs as a lucrative source of revenue in future healthcare systems. Currently, this arena is very active and companies are investing significantly in clinical trials of ATMPs post success of approved products. Over the past years, several proteins and small molecule-based developing companies have begun focusing on the development of adoptive cell T therapies. For instance, in March 2021, Bristol Myers Squibb in collaboration with bluebird bio secured approval for its Abecma (idecabtagene vicleucel) - a cell-based gene therapy medicinal product developed for the treatment of patients with multiple myeloma, from the U.S. FDA.


Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

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Advanced Therapy Medicinal Products Market Segmentation

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

ATMP Therapy Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Cell Therapy
    • Stem Cell
    • Non-stem Cell
  • Gene Therapy
  • CAR-T Therapy
  • Tissue Engineered Product

 

ATMP Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies profiled:

Some prominent players in the global Advanced Therapy Medicinal Products market include

  • Novartis AG
  • Gilead Sciences Inc.
  • TCR2 Therapeutics Inc
  • Bluebird Bio Inc.
  • Celgene Corporation
  • Spark Therapeutics
  • Kolon TissueGene, Inc.
  • PHARMICELL Co., Ltd
  • MEDIPOST;
  • JCR Pharmaceuticals Co., Ltd.
  • Vericel Corporation
  • Organogenesis Inc.

 

Order a free sample PDF of the Advanced Therapy Medicinal Products Market Intelligence Study, published by Grand View Research.

 

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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