by The Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell therapy is a potential breakthrough treatment that uses a patient’s own cells (or stem cells) to treat or cure disease. It involves processing patients’ cells to enhance their ability to fight diseases like cancer or repair diseased tissues and organs. Some common types of cell therapy include stem cell transplants, bone marrow transplants, and gene therapy. The increasing incidence and prevalence of chronic diseases such as cancer and cardiovascular diseases along with the growing popularity and awareness of regenerative medicines is expected to drive the demand for cell therapy over the forecast period.
Market Dynamics:
Increasing prevalence of conditions such as cancer and cardiovascular diseases is expected to drive the market growth. For instance, according to the World Health Organization, cardiovascular diseases were the leading cause of death globally in 2019, accounting for over 17.9 million deaths. Moreover, increasing funding and investments for R&D activities of cell therapy is also expected to boost the market growth. For instance, according to the report published by Marketdataforecast, the global stem cell therapy market size was valued at $12.38 Billion In 2021 and is projected to reach $68.72 Billion By 2030, growing at a CAGR of 20.6% from 2022 to 2030. However, high cost associated with cell therapies and stringent regulations for approval are some of the factors that may hinder the market growth.
Segment Analysis
The global cell therapy market is primarily segmented into Allogeneic, Autologous, and Syngeneic. Among these, the allogeneic segment dominates the market and accounts for the largest revenue share. This segment’s dominance is attributed to the advantages associated with allogeneic therapy such as wider availability of donor cells and no need to culture the cells. With advancements in cell therapy and growing awareness, the allogeneic segment is expected to witness robust growth over the forecast period.
PEST Analysis
Political: Governments across different countries are supporting cell therapy research and clinical trials through funding. Favorable regulations are also boosting the market growth.
Economic: Rising healthcare expenditure along with increasing investment from private players is fueling the Cell Therapy Market expansion. High treatment costs related to cell therapies could however hamper the market growth.
Social: Growing awareness about regenerative medicines and cell-based therapy applications are positively influencing the industry. However, ethical issues related to embryonic stem cells limit the market potential.
Technological: Rapid advancements in stem cell biology and therapies, development of cryopreservation techniques, and personalized medicines are providing opportunities for market expansion.
Key Takeaways
The global cell therapy market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of chronic diseases and growing demand for regenerative medicines. The market size for 2023 is estimated to reach US$ 844.7 Mn.
Regional analysis related content comprises Regional analysis related content: North America dominates the global cell therapy market and is expected to maintain its lead over the forecast period. This can be attributed to presence of developed healthcare infrastructure, growing disease burden and availability of advanced treatment options. Asia Pacific is anticipated to be the fastest growing regional market due to rising healthcare expenditure, increasing research funding and developing regulatory framework
Key players related content: Key players operating in the cell therapy market are Stempeutics Research Pvt. Ltd., Medipost Co. Ltd., Nipro Corporation, Dendreon Pharmaceuticals LLC, Organogenesis Inc., Novartis AG, Vericel Corporation, Allogene Therapy Inc., Gilead Sciences Inc. (Kite Pharma Inc.), and Takeda Pharmaceutical Company Limited (TiGenix), among others. These players are focusing on new product launches, partnerships, acquisitions and geographical expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
