The North America Advanced Therapy Medicinal Products CDMO Market would witness market growth of 15.7% CAGR during the forecast period (2022-2028).
Medications based on somatic cell therapy contain tissues or cells that have been modified in order to alter their biological properties. Alternatively, these medicines contain tissues or cells that are not meant to be employed for the same vital tasks in the body. They have applications in the treatment, diagnosis, and prevention of several diseases.
Tissue-engineered medicines contain tissues or cells that have been manipulated so that they can be utilized to repair, replace, or regenerate human tissue. Additionally, certain ATMPs may incorporate medical devices as an indispensable aspect of the medicine. Products derived from cell therapy, tissue engineering, and gene therapy belong to the domain of biological goods intended for use on humans.
The market is developing as a result of increasing conviction and awareness among researchers regarding the benefits of advanced therapy as well as increased clinical research of ATMP. Because of the growing need for innovative treatments, the market is undergoing transformation. The increase can be ascribed to the emergence of fatal and rare diseases, like ophthalmic and metabolic illnesses, as well as increased financing for the R&D of advanced therapeutic medicinal products.
Canada invests heavily in biopharmaceutical research and development, and as a result, it has grown to be a significant producer of vaccines. Additionally, the presence of significant domestic and foreign companies that produce vaccines is also propelling the growth of biopharmaceutical industry in the nation. According to estimates, the development of the regional industry will be supported by the developed countries like the US and Canada's robust healthcare systems. Additionally, during the course of the forecast period, the advanced therapy medicinal products CDMO market would expand more quickly due to the rising popularity of stem cell and regenerative medicine treatments.
The US market dominated the North America Advanced Therapy Medicinal Products CDMO Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,081.5 million by 2028. The Canada market is poised to grow at a CAGR of 18.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 17.3% during (2022 - 2028).
Based on Indication, the market is segmented into Oncology, Cardiology, Central Nervous System & Musculoskeletal, Infectious Disease, Dermatology, Endocrine, Metabolic, Genetic, Immunology & Inflammation, Ophthalmology, Hematology, Gastroenterology, and Others. Based on Product, the market is segmented into Gene Therapy, Cell Therapy, and Tissue Engineered & Others. Based on Phase, the market is segmented into Phase I, Phase II, Phase III, and Phase IV. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Advanced Therapy Medicinal Products CDMO Market is Estimated to reach $11.9 Billion by 2028, at a CAGR of 16.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc. (Patheon, Inc.), AGC Biologics, Inc. (AGC, Inc.), Catalent, Inc., Minaris Regenerative Medicine GmbH (Resonac Holdings Corporation), WuXi AppTec Co., Ltd. (WuXi Advanced Therapies), Lonza Group AG, Celonic AG (JRS PHARMA GmbH & Co. KG), Rentschler Biopharma SE, and Bio Elpida (Polyplus-transfection SA.)
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