Advanced Therapy Medicinal Products CDMO Industry Overview

The global advanced therapy medicinal products CDMO market size was valued at USD 5.29 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2021 to 2028. 

The growing demand for advanced therapy is the key factor fueling the market growth. The growth is attributed to the increasing prevalence of rare and life-threatening diseases, such as metabolic and optical diseases, and rising investment in R&D of advanced therapy medicinal products. Besides, ATMPs such as mesenchymal stem cells (MSCs) are a new treatment effective against the COVID-19 virus.

Gather more insights about the market drivers, restrains and growth of the Global Advanced Therapy Medicinal Products CDMO Market

The COVID-19 pandemic has had a massive impact on the development and manufacturing of advanced therapy medicinal products. The number of clinical trials for ATMPs increases due to the efficacy of the product such as MSCs treatment to fight against the virus. The FDA has established a special program for the acceleration of possible therapies for COVID-19 treatment. The program extends support for continuous activity in the clinical trials space and testing of drug molecules for the virus, which will ensure the safety and effectiveness of the drug. Gene and cell therapy have been identified as a potential treatment for the COVID-19 virus, as a result, the regulatory authorities have accelerated the drug development process and supply chain management.