Advanced Therapy Medicinal Products Market Size Projections: Promising Growth and Development Forecast (2023-2035)

New York, United States, Fri, 28 Jul 2023 06:43:42 / Comserve Inc. / -- Advanced Therapy Medicinal Products Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~13.4% During 2023-2035 and Attain ~USD 31,706.8 Million by 2035

Research Nester assesses the growth and market size of the global advanced therapy medicinal products market which is anticipated to be on account of the increasing number of genetic disorders, growing prevalence of chronic diseases, and the development of advanced technology for the production of these products

 New York – May 10, 2023 - Research Nester’s recent market research analysis on “Advanced Therapy Medicinal Products Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global advanced therapy medicinal products market in terms of market segmentation by product, disease, end user and by region.

The Rising Prevalence of Neurological Disorders to Promote Global Market Share of Advanced Therapy Medicinal Products

The global advanced therapy medicinal products market is estimated to grow majorly on account of the increase in disorders related to the nervous system that are attributed to lifestyle changes, the aging population, the increased prevalence of chronic diseases, and increased awareness about the availability of treatments. According to the United Nations statistics, every year around 6.8 million people die from maladies, and one in six people suffer from a neurological disorder. This has contributed to an increase in demand for advanced therapies, such as gene therapy, tissue engineering, and other therapies, which are driving the growth of the global advanced therapy medicinal products market.

Some of the major growth factors and challenges that are associated with the growth of the global advanced therapy medicinal products market are:

Growth Drivers:

• Growing investment in the development of advanced therapy medicines
• Rising demand for effective and personalized treatments for these diseases

Challenges:

The high cost of production and the complex manufacturing process of these products are expected to be major obstacles to the market growth of advanced therapy medicinal products. Additionally, stringent government regulations and the lengthy approval process for new products are also projected to impede market growth. These regulations and processes are set in place to ensure the safety and efficacy of any new products entering the market. As such, it can take a long time for a product to get approved, causing a delay in market growth.

By disease, the global advanced therapy medicinal products market is segmented into oncology, genetic disorder, CNS, dermatology, and others. The dermatology segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period owing to the increasing prevalence of skin-related diseases such as psoriasis, eczema, and atopic dermatitis and the growing awareness about the novel treatment options for these conditions is driving the growth of the dermatology segment. Moreover, the increasing number of clinical trials and the development of new techniques for the production of advanced therapy medicinal products are also contributing to the segment's growth.

By region, the North American advanced therapy medicinal products market is to generate the highest revenue by the end of 2035. This growth is anticipated by the increasing number of cancer cases and neurological disorders, which has been accompanied by the substantial investments made by private companies in the development of advanced therapeutic medicinal products. Moreover, there is increasing adoption of advanced therapies such as gene therapy, cell therapy, and tissue engineering in the region, as they offer improved therapeutic outcomes. Additionally, the presence of a large number of key players in the region is also expected to contribute to the regional market growth.

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This report also provides the existing competitive scenario of some of the key players of Novartis AG, Takeda Pharmaceutical Company Limited, Gilead Sciences, Inc., Bluebird Bio, Inc., BioMarin Pharmaceuticals Inc., Vericel Corporation, Mallinckrodt Pharmaceuticals, UniQure N.V., JCR Pharmaceuticals Co., Ltd., Spark Therapeutics, Inc., Kolon TissueGene, Inc.

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