In an article from May 3, 2023, Bloomberg forecasts an annualized growth of 22.8 percent for the cell and gene therapy markets. This means that the market for cell and gene therapies will reach USD 62.5 billion by 2032. The article is based on a study by Prophecy Market Insights.
According to the article, there are several things that will drive growth in the coming years. The number of clinical studies has increased continuously in recent years. As more and more clinical data becomes available, acceptance of new therapies will increase. The large private and public investments in cell and gene therapy have created good conditions for research and development, which in itself will accelerate the pace of innovation. CombiGene is an excellent example of private and public capital working together. In total, CombiGene has received SEK 229 million from the company’s shareholders and SEK 37 million in various forms of public funds.
One challenge mentioned in the article is the high cost of cell and gene therapy, both in terms of the development of new therapies and the high manufacturing costs. Uncertainty in the regulatory area is also mentioned.
Among the ten leading companies in the field of cell and gene therapy, the article mentions Spark Therapeutics, CombiGene’s partner in the epilepsy project CG01. Other companies include Gilead Sciences and Novartis.
Ingeneious contacted Peter Ekolind, CombiGene’s Chief Operating Officer, for a comment.
Peter, what is your spontaneous reaction to the Bloomberg article?
“The article shows that CombiGene is part of a very dynamic part of the pharmaceutical market with fantastic growth opportunities. We are, of course, deeply involved in all aspects of the development of our own projects and we have acquired important knowledge regarding the treatment of the diseases in which we are involved. Through the epilepsy project CG01, we have also learned a lot about the challenges and solutions that exist in manufacturing. We are also involved in the GeneNova project, which is led by KTH and which, among other things, aims to find solutions that make gene therapies available to a larger number of patients. Gene therapy is a complex field that requires us to work in a variety of disciplines. The fact that the article specifically mentions Spark Therapeutics as one of the world’s leading players is not news to us at CombiGene, but it is still very encouraging since Spark is our partner in the CG01 project.”