Advanced therapy medicinal products are modern therapies that include cell therapy, tissue engineered products, and gene therapy. This advance therapy provides solutions for condition with no therapeutic alternatives. Cell therapy incorporate with cellular immunotherapies, autologous, and allogeneic cells for specific therapeutic conditions. Gene therapy refers to products that add genetic material into individuals DNA to replace faulty genetic material. Tissue engineered products refers to repair, regenerate, and replace human tissue. Advanced therapy medicinal products which influences living cell or dynamic hereditary materials to offer novel treatment for intense and constant infections.

Market Scope and Structure Analysis

COVID-19 Impact Analysis             

COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the advanced therapy medicinal products market.

Top Impacting Factors

• Rise in cases of Alzheimer’s diseases across the globe, rise in demand for advance gene therapies, surge in prevalence of neurodegenerative diseases, rise in geriatric population, and  increase in genetic disorders are the key factors that drive the growth of advanced therapy medicinal products market.
• In addition, grow in adaptation of highly advanced therapy methods, surge in demand for minimally invasive products, increase in consumer demands, surge in expenses on healthcare sector, R&D activities to improve quality of drug, launch of novel drugs, and joint ventures, collaboration, & mergers between local & key market players are expected to boost the growth of market.
• However, high cost of treatment procedures and lack of awareness regarding advance therapy can hinder the growth of market.
• Contrarily, grow in demand for cellular immunotherapies and favourable government policies are expected to offer lucrative opportunities for the expansion of the market.

Market Trend

New Product Launches to Flourish the Market

In 2020 Rigenerand announced approval for manufacturing of RR001 by Italian Medicine Authority. RR001 is gene therapy product consist of autologous human adipose derived genetically modified cells.

In June 2019, bluebird bio has received marketing authorization from European Commission for launch of ZYNTEGLO. This product is use in gene therapy for patients 12 years and older with Transfusion-Dependent β-Thalassemia. ZYNTEGLO is the first known gene therapy medication approved for transfusion-dependent β-thalassemia.

Key Segment

Key Benefits of the Report

• This study presents the analytical depiction of advanced therapy medicinal products market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2028 to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Advanced Therapy Medicinal Products Market Report        

• Which are the leading players active in the advanced therapy medicinal products market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps?
• What is "advanced therapy medicinal products"?
• What is "advanced therapy medicinal products" market prediction in the future?
• Who are the leading global players in the "advanced therapy medicinal products" market?
• What are the current trends and predicted trends?
• What are the key benefits of the "advanced therapy medicinal products" market report?