DUBLIN, Ireland — The global market for cell and gene therapy products is expected to continue its expansion through the end of the decade, reaching an estimated $63 billion by 2031, according to a new strategic intelligence report tracking investment trends across the sector.
Cell and gene therapies have already delivered significant commercial returns for several pharmaceutical companies. Leading products such as Yescarta and Zolgensma generated sales of $1.5 billion and $1.2 billion in 2024, respectively, while Carvykti reported revenue of $963 million and Elevidys reached $820 million during the same period.
The report notes that innovative cell and gene therapies have reshaped treatment options for a range of genetic diseases, with development efforts still largely concentrated in oncology, hematological and blood disorders, and neurological conditions. Most cell therapy programs in the pipeline remain autologous, though allogeneic approaches are gaining traction, particularly in hematological malignancies.
Investor interest in the sector peaked in 2021, followed by a slowdown in dealmaking and fundraising amid tighter macroeconomic conditions, pricing pressures, and commercialization challenges. Despite this pullback, strategic pharmaceutical investors and specialized funds are returning to the space, prioritizing companies with clearer regulatory pathways and differentiated technologies such as novel adeno-associated virus capsids and scalable allogeneic platforms. Financing structures are increasingly tied to milestones as a way to manage development and regulatory risk.
According to the analysis, recent investor sentiment has shifted toward platform scalability, manufacturing strength, and clinical validation. High production costs, complex supply chains, reimbursement uncertainty, and renewed safety concerns for certain therapies have made the funding environment more selective.
Partnerships, co-development agreements, and licensing deals are emerging as key strategies to address manufacturing complexity and valuation uncertainty. Manufacturing scalability, automation, and cost reduction are now central to negotiations, with growing interest in technologies focused on vector optimization and cell engineering platforms rather than single therapeutic assets. Pharmaceutical companies are also seeking in-house or shared GMP capabilities to reduce supply chain risk and maintain tighter quality control.
The report highlights a broader shift in investment focus. While early funding favored rare and ultra-rare diseases, investors are increasingly backing platforms capable of addressing more prevalent conditions, including central nervous system, cardiovascular, and metabolic disorders. Oncology remains a core area, particularly for CAR T-cell therapies, but momentum is building toward non-oncology indications with faster development timelines and clearer regulatory paths.
The analysis examines venture capital investments, licensing activity, and mergers and acquisitions shaping the cell and gene therapy landscape. It also explores which therapeutic areas and technology modalities are attracting the most capital, how major venture firms are positioning their portfolios, and the strategies large pharmaceutical companies are using to build long-term capabilities in cell and gene therapy as the field continues to mature.
