-- ATMPs, or Advanced Therapy Medicinal Products, are a type of personalized medicine that uses gene therapy, cell therapy, and tissue engineering to treat diseases. The global ATMPs market is expected to grow at a CAGR of 13% during the forecast period, reaching USD 24 billion in 2032, driven by several factors.
First, the rising prevalence of chronic diseases such as cancer, genetic abnormalities, and autoimmune diseases is driving revenue growth of the market. ATMPs offer a potential and efficient therapeutic approach for such illnesses.
Second, increased spending on ATMP research and development by pharmaceutical companies, biotechnology businesses, and research institutions is another factor driving revenue growth of the market. These organizations are making significant investments in the creation of innovative technologies for the manufacture and distribution of ATMPs, leading to new and enhanced products on the market.
Third, patient awareness of the advantages of ATMPs is increasing, leading to their more frequent use. Governments from different nations are also taking steps to raise awareness of the potential of ATMPs and are sponsoring the development of these treatments.
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Market Segments: -
By product type outlook, the market is further segmented into gene therapies, cell therapies, and tissue-engineered products. Gene therapies hold the largest share in the market due to increasing focus on personalized medicine, advancements in genetic engineering techniques, and rising prevalence of genetic disorders.
By end-use outlook, the market is segmented into hospitals, clinics, research institutes, and others. Hospitals hold the largest share in the market due to the availability of skilled professionals, technologically advanced infrastructure, and increased government funding for hospitals.
By regional outlook, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds the largest share in the market due to the presence of major players in the region, increasing focus on R&D activities, and supportive government initiatives. The Asia Pacific region is expected to witness significant growth during the forecast period due to the increasing incidence of chronic diseases and rising healthcare expenditure in emerging economies such as China and India.
Strategic developments in the market:
Novartis International AG completed its acquisition of Arctos Medical, Inc. on 21 September 2021. Arctos Medical is a U.S.-based biotechnology company that focuses on developing gene therapies for cancer. Novartis' acquisition was aimed at expanding its gene therapy portfolio and enhancing its capabilities in the oncology market. With this acquisition, Novartis is expected to develop advanced gene therapies to help patients suffering from cancer.
On 7 April 2020, Gilead Sciences, Inc. completed its acquisition of Forty-Seven, Inc., a U.S.-based clinical-stage immuno-oncology company. The acquisition was aimed at expanding Gilead's capabilities in the immuno-oncology market and providing advanced solutions for the treatment of cancer. With this acquisition, Gilead Sciences has enhanced its position in the immuno-oncology market, which is one of the fastest-growing segments of the pharmaceutical industry. The acquisition is expected to enable Gilead Sciences to develop innovative immuno-oncology treatments to help patients suffering from cancer.
The strategic developments by major players in the ATMP market have helped to strengthen their position and develop innovative products that can help patients suffering from chronic diseases. These developments are expected to lead to the development of more advanced ATMPs and better treatment options for patients in the future.
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Competitive Landscape:
The global advanced therapy medicinal products (ATMP) market is highly competitive, with several major players accounting for a significant share of the market. These major players are adopting various strategies such as mergers & acquisitions, partnerships, and product launches to strengthen their market position. Some of the major companies operating in the ATMP market are: Novartis International AG, Gilead Sciences, Inc., Spark Therapeutics, Inc., Celgene Corporation, bluebird bio, Inc., Lonza Group Ltd., Sangamo Therapeutics, Inc., Orchard Therapeutics plc, Precision Biosciences, Inc., AveXis, Inc.
Novartis International AG is one of the leading players in the ATMP market, with a broad portfolio of cell and gene therapies. The company's Kymriah and Zolgensma are among the most successful gene therapies on the market. Gilead Sciences, Inc. is another major player in the ATMP market, with a focus on developing therapies for oncology and infectious diseases. The company's Yescarta is a CAR-T therapy for the treatment of certain types of non-Hodgkin's lymphoma.
Spark Therapeutics, Inc. is a gene therapy company that was acquired by Roche in 2019. The company's Luxturna is the first gene therapy approved by the FDA for the treatment of an inherited retinal disease. Celgene Corporation is a biopharmaceutical company that focuses on developing therapies for cancer and inflammatory diseases. The company's CAR-T therapy, bb2121, is in clinical trials for the treatment of multiple myeloma.
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