Market Size of Global Advanced Therapy Medicinal Products (ATMPs) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Advanced Therapy Medicinal Products Market Analysis
The advanced therapy medicinal products (ATMPs) market is projected to register a CAGR of 13% during the forecast period.
The COVID-19 pandemic has resulted in plummeted revenue generation through approved advanced therapy products designed for non-COVID applications to a manageable extent. This is majorly due to the sudden shift of the global healthcare system toward the management of SARS-CoV-2 infected patients. Nonetheless, the global pandemic has driven the research programs aimed at exploring the application of these therapies in virology research. For instance, in September 2020, ALVR109, an allogeneic T-cell therapy IND application, which is designed for the treatment of patients infected with SARS-CoV-2, received approval from the US Food and Drug Administration (FDA). Similarly, in January 2021, Sorrento Therapeutics Inc. reported positive results from its Phase 1b study of COVI-MSC, a human allogeneic adipose-derived mesenchymal stem cell-based treatment, which is designed for patients suffering from COVID-19-induced acute respiratory distress syndrome (ARDS) or acute respiratory distress (ARD). This broadening application of CAR-T cells in non-oncology applications is certainly expected to benefit the market in terms of revenue growth in the coming years.
Furthermore, a continuous increase in the number of candidates under the global pipeline for advanced therapy is anticipated to bolster the future market revenue. In an analytical article published in Nature Reviews Drug Discovery in June 2021, 2,073 cell therapies in the global pipeline were marked as active, an increase of 572 over the update in 2020 as of April 16, 2021. This is expected to positively impact the market revenue in the coming years.
Moreover, rising competition among the market players to gain substantial market share in the space is anticipated to propel R&D investment flow in the market. For instance, in October 2021, Leucid Bio announced an investment of USD 15.26 million (1 GBP=1.33 USD) for the development of the next generation of innovative CAR-T therapies. Similarly, in June 2021, Blackstone Life Sciences collaborated with Cellex Cell Professionals and Intellia Therapeutics to launch a new CAR-T cell therapy company. These developments are expected to play a vital role in defining market growth.
