Advanced Therapy Medicinal Products Market Product Driving Factors, Capacity and Growth Rate Analysis to 2028

 Advanced Therapy Medicinal Products Industry Overview

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.

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:

Based on the Therapy Type Insights, the market is segmented into Cell Therapy, Gene Therapy, CAR-T Therapy, and Tissue Engineered Product

  • The tissue-engineered product segment dominated the market with the largest revenue share of 39.0% in 2020.
  • 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
  • On the other hand, the CAR-T therapy segment is gaining significant momentum in the space and is expected to register the fastest CAGR over the forecast period.

Advanced Therapy Medicinal Products Regional Outlook

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

Key Companies Profile & Market Share Insights

The growing investments by key market players to develop advanced systems for healthcare management are contributing to the market growth. Leading healthcare providers and hospitals have renewed or entered licensing deals with the IT solutions providers to use their products available in the market, which is anticipated to enhance the market growth.

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

  • Allscripts Healthcare Solutions, Inc.
  • Cerner Corporation
  • NXGN Management, LLC
  • McKesson Corporation
  • Koninklijke Philips N.V.
  • Hill-Rom Services Inc.
  • Cisco
  • General Electric
  • Stanly Healthcare
  • Vocera Communications
  • ASCOM
  • athenahealth, Inc.

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

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