Examining 2023 & 2024: What’s to Come with President & CEO, Mark Sawicki
The cell and gene therapy industry is poised for many changes in 2024. With persistent challenges facing manufacturers and developers such as the retention of experienced talent or a general lack of funding for specialized therapies, the state of what’s to come feels more unsure than it has in recent years. Despite these setbacks, certain experts believe that 2024 will prove the cell and gene industry to be as strong as ever. Many predict this year will contain a high rate of new therapy approvals with several new commercialized therapies hitting the market by the beginning of 2025.
Cryoport Systems is a trusted source for discussions surrounding the highs and lows of the the cell and gene therapy industry. In this second installment of our two-part blog series, Mark Sawicki, Cryoport Systems’ President & CEO, shares his predictions and ideas about what’s to come in the cell and gene therapy space in 2024. Check out these five questions about the future state of the market and Mark’s answers on what could come to fruition within the industry this new year.
1. Do you have any market growth predictions for 2024?
“This year will showcase the upward momentum of the cell and gene therapy industry that many notable market professionals have been predicting in recent years. The industry can expect as many as 10 new commercial therapy approvals and 19 potential BLA/MAA Filings. These impressive numbers spark a reflection on the important work that our clients are doing for patients around the world.”
2. Many organizations have identified manufacturing scalability to be a significant industry challenge in 2024. How can Cryoport Systems help to address this roadblock?
“Scalability is linked to the manufacturing capacity of an organization. Many times, this issue boils down to infrastructure – the manufacturers and developers don’t have the infrastructure to support all elements of their supply chain in-house. Building that infrastructure is an expensive endeavor that can leave organizations short of their goals. That’s where Cryoport Systems can come alongside the industry and support their management and scalability needs. Our BioServices solutions offer comprehensive temperature-controlled storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and storage of GMP raw materials all within our Global Supply Chain Centers. These offerings are a great example of how Cryoport Systems can offer our customers an outsourced solution that mitigates risk and helps our clients scale their manufacturing operations.”
3. What other challenges do you foresee affecting the industry in 2024?
“It’s no secret that the state of the economy and the biotech funding environment are a concern right now for the cell and gene therapy industry. Numerous organizations within the cell and gene therapy space have cut back their operations or product pipelines due to a lack of financing. I believe this issue will continue to be in conversation throughout the new year. There’s a lot of unknowns right now, but within the unknown lies an opportunity for growth. With the high number of projected new therapy approvals predicted for 2024, we could see unprecedented growth in the number of commercial therapies available to patients in need rolling out this year and in the next couple of years.”
4. In what specific ways would you like to see Cryoport Systems support the life sciences market this year?
“The rebranding of Cryoport Systems and the additional Cryoport, Inc. companies is a way for us to showcase how much we have to offer the industry. We provide extensive support to the industry, for example, by means of our BioServices solutions, our IntegriCell™ cryopreservation capabilities, and the expansion of these offerings through our Global Supply Chain Centers. There are so many ways that we can support the industry, and I know our services will continue to be an essential asset for our clients in 2024 and beyond.”
5. What are you most excited about for Cryoport Systems in 2024?
“I’m excited about our ability to continually expand our products and services in 2024. Our support of the life sciences supply chain can be utilized throughout all phases of the manufacturing and development process. Cryoport Systems’ Consulting Services team, for example, can provide a range of services that touch the entire supply chain from packaging qualifications tests to project management capabilities and even to paperwork and regulations assistance. We can do a lot for our clients, and I’m excited to see the ways in which we’ll be able to Enable the Outcome for them and their operations in 2024.”
For more information on how Cryoport Systems can support your supply chain management needs this year, contact us on our website.