CGT supply chain and logistics market worth $3.12b by 2031
Posted: 5 April 2023 | Catherine Eckford (European Pharmaceutical Review) | No comments yet
Improvements in real-time supply chain operations is expected to drive the cell and gene therapy supply chain/logistics market, a report says.
According to a market report, the global cell and gene therapy (CGT) supply chain/logistics market is expected to reach $3.12 billion in 2031.
This translates into a promising compound annual growth rate (CAGR) of 11.2 percent during the forecast period of 2023-2031.
What is driving the cell and gene therapy supply chain/logistics market?
The growing need for cell and gene treatments, growing medical trials and improvements in real-time supply chain operations are predicted to enhance the quality of cell and gene therapies supply chain management services during the forecast period.
For example, rising customisable facilities, enhancing efficacy of CGT supply chain services and advancing innovations in the supply services is expected to drive market expansion, the report noted.
advancing innovations in the supply services is expected to drive market expansion”
However, a challenge predicted to hinder market growth over the projected period is the high funding cost required for CGT supply chain services and the lack of standard therapy protocols. Other obstacles in this market are the provision of personalised treatments and smart packaging, the research stated.
Key developments in the market
In Jan 2023, a new strategic partnership was announced between a contract research organisation (CRO) and a supply chain solutions firm. The collaboration will be the first fully integrated biopharmaceutical and supply chain solution for the business. It will help speed up treatment and improve results by widening access to these therapies.
The report determined that leading manufacturers are focusing on offering customisable services to clients. Partnerships, collaborations, mergers and acquisitions within the field are also helping to increase business.
Which region of the world is advancing the market most?
North America is the primary revenue holder of the market, the report stated. Higher government investments in cell therapies R&D to treat various diseases and high demand for novel therapies are both factors. The research observed that North America, followed by Europe, hold the biggest share of the market, due to improved CGT supply chain services efficiency and the quick adoption of advanced technology.
The Asia-Pacific market is also expected to grow faster. This is due to the expanding cell therapy manufacturing industries and the improving efficiency of CGT supply chain services.
Prominent players in the cell and gene therapy supply chain/logistics market include:
Almac, Arvato Supply Chain Solutions SE, Catalent, Cryoport, Biocair, Marken (UPS Company), Lykan Bioscience, MasterControl, Modality Solutions, Thermo Fisher Scientific (Patheon), TraceLink and Yourway Biopharma Services Company.
