- High target disease prevalence, product launches, and increasing strategic developments such as partnerships and agreements are driving the market for cell therapy.
- Market Size – USD 5.79 Billion in 2019, Market Growth - CAGR of 5.6%, Market Trends – Advancement in technology.
NEW YORK, June 29, 2020 /PRNewswire/ -- The global Cell Therapy Market is forecast to reach USD 8.75 Billion by 2027, according to a new report by Reports and Data. The market for cell therapy is observing a high demand due to the rise in the number of clinical trials across the world. These therapies are used in regenerative medicine, especially for degenerative and immunogenic pathologies. However, the applications of cell therapy in oncology will experience higher growth, owing to a large number of pipeline projects for the treatment of tumors or cancer.
The inception of effective guidelines for cell therapy manufacturing, the development of advanced genomic analysis techniques, a vast number of research by cancer societies, and proven effectiveness of transplants are some of the primary growth stimulants for the market. Certain pharmacological and manufacturing issues and regulatory hurdles are restricting the growth of the market.
The Japanese government has recognized cell therapy and regenerative medicine as a major donor to the country's economic growth. This has influenced the attention of global market players towards the Asian market, thereby fostering marketing operations in the region.
Many deals and new companies are coming up to boost the research in cell therapy. UK Biotech startup Bit Bio received a €36.9 million Series A funding, in June 2020, to boost the manufacturing efficiency of human cells for application in cell therapy and drug discovery.
The COVID-19 impact:
The market for cell therapy will witness a surge in demand as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A remarkable number of biotech firms are in the midst of the race to scrutinize the virus's genome and are trying to develop a viable vaccine. These companies are investigating the virus at an unparalleled rate, and considerable funds are being invested into the research. The companies are in trial, and the private and public sectors are working continuously for the development of the vaccine.
To identify the key trends in the industry, click on the link below:
Further key findings from the report suggest
- Allogeneic Stem Cell Therapy dominated the therapy type segment. The segment is advantageous as they produce their own immune stem cells, which can kill cancer cells that remain even after high-dose cytotoxic drugs treatment. The patients those have a high risk of relapse after successful treatment of chemotherapy are recommended allogeneic transplants. The rising cases of cancer relapse have fueled the demand for the segment.
- Stem cell banking is gaining popularity from the initiatives taken by the government. The number of stem cell banks are increasing in developing nations, which is further propelling market growth. Also, increasing awareness regarding the storage of stem cells has had a positive effect on the market. The market is still at a nascent stage, but it holds potential in both therapeutic and diagnosis fields.
- Hospitals and clinics are forecasted to grow at a significant CAGR of 5.8% during the forecast period. The lucrative growth in the segment is due to the increase in the number of pipeline projects over the past few years. As per the Cancer Research Institute (CRI), the number of projects rose from 753 in 2018 to 1,011 in 2019.
- Cell therapy has been observed to induce profound healing activity in animals with different forms of autoimmune disorders. Besides healing damaged tissues, it has the unique ability to modulate the immune system while preserving its ability to fight off disease.
- North America is anticipated to account for a significant share of the global cell therapy market. The United States will be the major contributor and is expected to witness high growth owing to the huge amount of funding by the government and private firms for clinical trials.
- Key participants include JCR Pharmaceuticals Co. Ltd., Fibrocell Science, Inc., Kolon TissueGene, Inc., Osiris Therapeutics, Inc., PHARMICELL Co., Ltd., MEDIPOST, Stemedica Cell Technologies, Inc., Cells for Cells, Vericel Corporation, and ANTEROGEN Co., Ltd., among others.
For the purpose of this report, Reports and Data have segmented the global Cell Therapy Market on the basis of therapy type, therapeutic area, cell type, end-user, and region:
Therapy Type Outlook (Revenue, USD Billion; 2017-2027)
- Allogenic Stem Cell Therapy
- Autologous Stem Cell Therapy
Therapeutic Area Outlook (Revenue, USD Billion; 2017-2027)
- Autoimmune Disorders
- Musculoskeletal Disorders
Cell Type Outlook (Revenue, USD Billion; 2017-2027)
- Stem Cells
- Non-Stem Cells
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Academic & Research Institutes
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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