The cell and gene therapy (CGT) industry is on track to hit a record number of regulatory approvals this year—and the boom could have big implications for commercial real estate.
Life sciences employment is riding high and the marketplace is increasingly demanding accelerated innovation. But real estate development happens at a slower pace, leading to a supply shortfall that has left many enterprises engaged in large-scale research, development and production in the lurch.
According to Global Data, 582 CGT clinical trials commenced last year as regulatory approvals of new gene therapy and gene-modified cell therapy products gathered steam, and the first quarter of this year has seen an additional 138 clinical trials.
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