Advanced Therapy Medicinal Products Market Worth $21.2 Billion By 2028

The global Advanced Therapy Medicinal Products Market size is expected to reach USD 21.2 billion 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.

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.

Related Press Release@ Advanced Therapy Medicinal Products Market Report

Advanced Therapy Medicinal Products Market Report Highlights

  • The cell therapy segment accounted for the largest revenue share in 2020 owing to the presence of a high number of approved products in this segment
  • Increased investment flow to sponsor clinical trials has also spurred the revenue share of the cell therapy segment
  • Introduction of effective guidelines to support cell therapy manufacturing and the recent approval of advanced therapies further aid in the dominance of the segment
  • The geographical expansion of Yescarta and Kymriah in Japan and Europe has encouraged the investors to support the development in this space
  • Recent approvals of gene therapies have significantly accelerated the clinical trials in this segment
  • COVID-19 pandemic has opened new areas for key players to invest in T-cell research for viral infections
  • The research community is actively evaluating the potential of advanced therapies in COVID-19 patients, thereby aiding in market growth
  • North America accounted for the largest revenue share in 2020 owing to the exponential rise in clinical trials pertaining to advanced therapies
  • Strong pipeline of ATMPs in the U.S. accelerated revenue generation in the region
  • Also, the shifting focus of U.S.-based companies from conventional drug development to ATMPS is driving regional growth
  • In Asia Pacific, the market is expected to witness the fastest CAGR owing to expanding ATMP landscape in emerging markets such as China at the forefront
  • Expanding business of China-based CDMOs has driven regional market growth
  • Key companies are undertaking various strategic initiatives to maintain their market position. Collaboration between ViGeneron GmbH and Biogen Inc. in January 2021 is one of the notable examples of collaboration in this space
  • The companies collaborated on the development of an AAV-based gene therapy product for the treatment of inherited eye diseases
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