Investment Rating - The report indicates a positive investment outlook for the cell and gene therapy (CGT) industry, highlighting its potential as a trillion-dollar blue ocean market driven by technological breakthroughs and accelerated commercialization [5]. Core Insights - The CGT industry encompasses a wide range of applications, including cell therapy and gene therapy, aimed at curing various diseases. The industry faces high technical barriers and stringent quality control, but the rich pipeline of research and development (R&D) is leading to stable market growth [5][11]. - China has emerged as a major region for clinical trials of immune cell therapies, with significant advancements in CGT drug development. The market is expected to grow further with more product approvals and exploration of new targets [5][21]. - Despite a tightening funding environment, cell therapy drug development targeting solid tumors remains a hot area of investment [5][35]. Summary by Sections Industry Overview - The CGT industry is characterized by high technical barriers, a rich pipeline of drugs in development, and a wide range of applications targeting genetic diseases, cancers, infectious diseases, and chronic conditions [11][20]. Market Size and Growth - The market size of the CGT industry in China grew from 0.26 billion RMB in 2019 to 32.72 billion RMB in 2023, with a compound annual growth rate (CAGR) of 233.71%. It is projected to reach 526.50 billion RMB by 2028, with a CAGR of 58.04% [33][34]. R&D Pipeline - The report notes that as of 2023, there are over 647 CGT projects in development in China, with 8 products already approved for market. The focus is on targets such as CD19, BCMA, and CD22, primarily for treating non-Hodgkin lymphoma and multiple myeloma [47]. Competitive Landscape - The CGT industry features a tiered competitive landscape, with leading companies like WuXi AppTec and Eternal Biotech at the forefront. The report highlights the trend of CGT companies transitioning to Contract Development and Manufacturing Organizations (CDMO) to enhance competitiveness [43][46]. Regulatory Environment - The report outlines various supportive policies aimed at promoting CGT development, including guidelines for clinical research and product evaluation, which are expected to facilitate innovation and market entry [41]. Investment Trends - In 2023, the CGT funding landscape saw a decline in investment events and amounts compared to 2022, but cell therapy targeting solid tumors continues to attract significant attention from investors [35].