Cell Therapy Market Synopsis
According to Market Research Future (MRFR), the cell therapy market is predicted to record a notable CAGR of 22.36%, with the market value of USD 20,217 million by 2023.
The higher success rates and efficiency provided by cell therapies is likely to increase its preference over the risky therapies, which is projected to be the most significant cause of driving the global cell therapy market 2020. Several benefits such as lesser complications, higher affordability, and low mortality rate, are estimated to boost the market significantly. Further, growing applications of cell therapies in the development of regenerative medicines, treating cancers, curing urinary problems, and others can enlarge the market size significantly. Besides, the plethora of research going on to improve the efficacy of cell therapies is recognized as other underpinning factor strengthening the global market.
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The outbreak of COVID-19 is anticipated to have a positive influence on the cell therapy market since the pharmaceutical innovators are at the frontier for the human response to the pandemic.
Cell Therapy Market Segmentation
The segment evaluation of the global cell therapy market is done by type, product, technique, technology, cell source, and application.
Global Cell Therapy Market, by Type
Global Cell Therapy Market, by Product
- Consumables (Vessel/Media/Serum/Reagent)
- Software & Other Services
Global Cell Therapy Market, by Technique
- Stem Cell Therapy
- Cell Vaccine
- Adoptive Cell Transfer (ACT)
- Fibroblast Cell Therapy
- Chondrocyte Cell Therapy
Global Cell Therapy Market, by Technology
- Viral Vector Technology
- Cell Immortalization Technology
- Genome Editing Technology
Global Cell Therapy Market, by Cell Source
- Bone Marrow
- Adipose Tissue
- Umbilical Cord Blood-Derived Cells
Global Cell Therapy Market, by Application
- Cardiovascular Disease (CVD)
- Wound Healing
Global Cell Therapy Market, by End User
- Hospital & Clinics
- Regenerative Medicine Centers
- Research Institutes
Cell Therapy Market Regional Analysis
Based on the region, the global cell therapy market is segmented into the Americas, Asia-Pacific, Europe, and the Middle East & Africa.
The Americas are likely to secure the largest market share on account of the increased incidence of chronic illness and the robust presence of the pharmaceutical and biotechnology sector. Among all countries, the US and Canada are estimated to make the maximum contribution to develop the regional market.
Europe is projected to acquire second position owing to the increased research and development with sufficient funds. Further, the significant contribution made by countries such as France, the UK, Italy, Spain, and Germany is likely to accelerate the market in the coming period.
The APAC region is estimated to be the fastest-growing market among all. The most significant factor responsible for regional growth is the expansion of healthcare infrastructure and the widening patient pool. Further, the presence of developing countries, willing to integrate the latest technologies over conventional methods, is additionally likely to shoot up the market growth graph.
The MEA region is estimated to secure the least market share owing to the presence of poor economies and a lack of expertise. However, the Middle East region is likely to play a crucial role in developing the regional market due to the presence of stable economies such as Kuwait, Saudi Arabia, and others.
Cell Therapy Market Key Players
The renowned players of the global cell therapy market are
- RTI Surgical Holdings Inc.
- Vericel Corporation
- Mesoblast Ltd
- NuVasive Inc.
- Pharmicell Co. Ltd
- JCR Pharmaceuticals Co. Ltd
- Holostem Terapie Avanzate S.r.l.
- Osiris Therapeutics Inc
- Medipost Co., Ltd.
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