The research study presented in this report offers complete and intelligent analysis of the competition, segmentation, dynamics, and geographical advancement of the Global Cell Therapy Market. The research study has been prepared with the use of in-depth qualitative and quantitative analyses of the global Cell Therapy Market. We have also provided absolute dollar opportunity and other types of market analysis on the global market.
Cell Therapy Market Overview
Cell therapy (CT) is a process in which viable cells are implanted or grafted to a patient for the treatment of diseases and grave injuries. It is also known as cytotherapy, cell transplantation, and cellular therapy. Some of the cells used in CT include pancreatic islet cells, hematopoietic stem cells, skeletal muscle stem cells, mesenchymal stem cells, and others. The global cell therapy market report by Market Research Future (MRFR) contains estimations and projections for the scope of CT for the period of 2018 to 2023 (forecast period). The market is plagued by tough approval requirement and strict quality standards. But entry of new players is likely to bring down the costs of treatment.
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Cell Therapy Market Competitive Outlook
Major players of the global cell therapy market are
- RTI Surgical Holding Inc.
- JCR Pharmaceuticals Co. Ltd.
- Medipost Co. Ltd.
- Holostem Terapie Avanzate S.r.l.
- Mesoblast Ltd
- NuVasive Inc.
- Vericel Corporation
- Osiris Therapeutics Inc
- Pharmicell Co., Ltd.
Cell Therapy Industry News
A research team at the Abu Dhabi Stem Cell Center, United Arab Emirates, is currently in the testing mode for a new version of stem cell therapy, for the possible cure of COVID-19. Stem cells are administered through the nasal passage to repair the lung damage caused by the virus.
Cell Therapy Market Outlook
The global cell therapy market size can reach a value of USD 20,217 million by 2023. It is predicted to reach this benchmark by exhibiting a CAGR of 22.36% during the forecast period. Major drivers of the industry are awareness of chronic diseases, rise in cell therapy transplantations, and the vulnerable aged populace. Emergence of personalize therapy is likely to drive the market growth in new directions. Recently, the Moffitt Research Center had found success in shrinking tumors in patients with non-small cell lung cancer by using lymphocytes.
Technological advances resulting in automation of stem cells and cord blood cells and their subsequent storage can fuel the market growth. Investments in the cell therapy industry by biotechnology companies can provide the much needed stimulus for innovation. For instance, Bayer AG invested close to USD 215 million in Century Therapeutics for development of therapies for combating solid tumors and blood cancer.
But strict regulations can impede the growth of the global cell therapy market.
Cell Therapy Market Segmentation
The global cell therapy market has been segmented type, product, technique, technology, cell source, application, and end user.
By type, it is divided into allogeneic and autologous. The autologous segment is expected to reach a value of USD 11,554.67 million by 2023. Autologous cell therapy is likely to gain traction owing to its application in neurology, dermatology, and oncology. However, the allogeneic segment is predicted to exhibit a CAGR of 22.85% during the forecast period.
By product, it is segmented into consumables, software & other services, and equipment.
By technique, it is segmented into fibroblast cell therapy, chondrocyte cell therapy, adoptive cell therapy (ACT), stem cell therapy, and cell vaccine.
By technology, it is segmented into genome editing technology, viral vector technology, and cell immortalization technology.
By cell source, it is segmented into umbilical cord blood-derived cells, bone marrow, and adipose tissue.
By application, it is segmented into wound healing, cardiovascular disease (CVD), orthopedic, and oncology.
By end user, it is segmented into research institutes, hospital & clinics, and regenerative medicine.
Cell Therapy Market Regional Analysis
The market has been segmented, by region, into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas accounted for close to 37.6% share in 2017 owing to North America accounting for the majority of the regional contribution. The region can accumulate revenues by displaying a CAGR of 21.45% during the forecast period.
The Europe cell therapy market size can surpass USD 6,357.79 million by 2023. Main factors driving the regional market growth include adoption of cell therapy for wound healing, cancer, and orthopedics and the sophisticated healthcare infrastructure. Rise of stem cell therapy and approvals of other techniques by regulatory bodies can fuel the market growth.
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