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This article presents a quarterly round-up of the latest trends in the pharmaceutical industry regarding cell & gene therapy. It provides an overview of recent developments in cell & gene therapy-related deals, talent acquisition, and patent filings within the pharmaceutical industry.
Diverse applications of cell & gene therapy in pharmaceutical industry
Pharma companies are leveraging new cell & gene therapy technologies through recent patents to innovate and improve their businesses. Tokyo University of Science's patent focuses on using mesenchymal stem cells and adipocytes to prepare a mitokine mixture for therapeutic drugs. General Hospital Corp's patent involves antagonistic anti-tumor necrosis factor receptor antibodies for treating various diseases. Bristol-Myers Squibb Co's patent offers methods to predict and treat toxicity associated with cell therapy, particularly neurotoxicity and cytokine release syndrome. Abbisko Therapeutics Co Ltd's patent introduces a macrocyclic K-RAS G12C inhibitor for cancer treatment. University System of Georgia's patent suggests using gangliosides to treat neurodegenerative diseases. Acquirers of these patents stand to benefit from cutting-edge technologies and applications in cell & gene therapy for improved treatment outcomes and patient care.
The industry experienced a 31% decline in the number of cell & gene therapy-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of cell & gene therapy-related patent applications in the pharmaceutical industry witnessed a drop of 12% compared with Q1 2023.
Strategic deal trends in cell & gene therapy in pharmaceutical industry
Pharmaceutical companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cell & gene therapy. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of cell & gene therapy in the pharmaceutical industry.
In Q1 2024, the number of cell & gene therapy-related deals in the pharmaceutical industry declined by 7% compared with Q1 2023. On a quarterly basis, there was 13% drop in the number of deals in Q1 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q1 2024, the pharmaceutical industry experienced a 11% growth compared with the previous quarter. On an annual basis, job postings also declined by 42%. Notably, management occupations, with a share of 27%, emerged as the top cell & gene therapy-related job roles within the pharmaceutical industry in Q1 2024, with new job postings rising by 1% quarter-on-quarter. Life, physical, and social science occupations came in second with a share of 18% in Q1 2024, with new job postings rising by 5% over the previous quarter. The other prominent cell & gene therapy roles include computer and mathematical occupations with a 7% share in Q1 2024, and business and financial operations occupations with a 4% share of new job postings.
Bristol-Myers Squibb, Vertex Pharmaceuticals, AstraZeneca, Johnson & Johnson, and Iovance Biotherapeutics are among the top companies leading in cell & gene therapy hiring within the pharmaceutical industry.
Countries driving adoption of cell & gene therapy in pharmaceutical industry
The US is the leading country in cell & gene therapy adoption within the pharmaceutical industry, boasting the highest number of cell & gene therapy-related patents, jobs, and deals. Meanwhile, Israel, Germany, Australia and South Korea also maintain significant positions in cell & gene therapy adoption within the pharmaceutical industry.
In conclusion, cell & gene therapy is reshaping the pharmaceutical sector with its potential for personalized treatments and precision medicine, evidenced by recent patent filings and strategic investments. Despite a decline in patent applications and deals, the industry's focus on talent acquisition underscores the growing demand for professionals in this field, with the US leading in adoption.
To further understand GlobalData's analysis on cell & gene therapy in the pharmaceutical industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData patent analytics tracks patent filings and grants across companies and themes. Proprietary databases on deals and job analytics are used to respectively monitor global deal activity and uncover insights from daily job postings to identify trends, company activities, and industry dynamics across different sectors globally.
