Global Cell Therapy Market is expected to grow at a CAGR 10.6% during the forecast period of 2017-2023.
Cell therapy is a set of technologies that rely on replacing dysfunctional cells with functioning ones. Cell therapy is based on ground-breaking scientific discoveries and various technological advancements. With new technologies and different types of cells such as hematopoietic stem cells (HSC), mesenchymal stem cells, skeletal muscle stem cells, lymphocytes, pancreatic islet cells, and dendritic cells, cell therapy can be used for the treatment of a variety of diseases. Potential applications of cell therapy include treatment of cancers, urinary problems, autoimmune disease, and infectious disease, repairing spinal cord injuries, rebuilding damaged cartilage in joints, improving the immune system, and treatment of neurological disorders.
A number of factors such as increasing geriatric population, increasing government assistance, replacement of animal testing model, technological advancements, and improvement in the regulatory framework, are propelling the growth of cell therapy market. Rising prevalence of chronic disorders is also fuelling up the market to a great extent.
Despite these drivers, there are some issues associated with cell therapy market. Challenges in research and development, the high cost of manufacturing, and poor healthcare system in low and middle-income countries may hamper the growth of the market.
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Some of key the players in the cell therapy market are Novartis AG, GlaxoSmithKline plc, MEDIPOST, Osiris, PHARMICELL, NuVasive, Inc., JCR Pharmaceuticals Co., Ltd, ANTEROGEN.CO.,LTD., Cynata, CELLECTIS, BioNTech IMFS, EUFETS GmbH, Cognate, Pluristem, Grupo Praxis, Genzyme Corporation, Advanced Tissue and others.
The Americas dominate the cell therapy market owing to the rise in awareness among people, and high healthcare expenditure.
Europe holds the second position in cell therapy market. It is expected that the support provided by government bodies for research & development and improvement in reimbursement policies in healthcare will drive the market in Europe region. On August 30, 2017. Novartis AG, A Switzerland based market leader, received FDA approval for Kymriah suspension for intravenous infusion. It is the first chimeric antigen receptor T cell therapy (CAR-T).
The Asia Pacific is the fastest growing cell therapy market owing to the huge patient pool and developing healthcare technology.
Key Questions Answered In This Report
- What will the market size and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
LIST OF TABLES
Table 1 Cell Therapy Industry Synopsis, 2017 – 2023
Table 2 Cell Therapy Market Estimates and Forecast, 2017 – 2023, (USD Million)
Table 3 Cell Therapy Market by Region, 2017 – 2023, (USD Million)
Table 4 Cell Therapy Market by Type, 2017 – 2023, (USD Million)
Table 5 Cell Therapy Market by Technology, 2017 – 2023, (USD Million)
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Table 6 Cell Therapy Market by Cell source, 2017 – 2023, (USD Million)
Table 7 Cell Therapy Market by Application, 2017 – 2023, (USD Million)
Table 8 Cell Therapy Market by End Users, 2017 – 2023, (USD Million)
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