What is the global market size of Cell Therapy Market?

Cell Therapy Market size was valued at USD 18.92 billion in 2021 and is poised to grow from USD 21.6 billion in 2022 to USD 71.07 billion by 2030, growing at a CAGR of 14.15% in the forecast period (2023-2030).

Who are the key vendors in the Global Cell Therapy Market?

Companies are getting FDA permission for stem cell treatment for a variety of disorders and infections. For example, in September 2020, the FDA granted Stemedica Cell Technologies, Inc. Investigational New Drug permission to undertake phase II studies of intravenously delivered allogeneic MSCs in covid-19 patients. Ischemic-tolerant MSCs have various characteristics that make them an appealing potential biological treatment for COVID-19, including immunomodulatory effects, limited immunogenicity, and the ability to inhibit excessive pro-inflammatory responses. 'Novartis AG', 'Kite Pharma Inc. (a subsidiary of Gilead Sciences Inc.)', 'Vericel Corporation', 'Takeda Pharmaceutical Company Limited', 'Bluebird Bio Inc.', 'Celgene Corporation (now part of Bristol Myers Squibb)', 'Fate Therapeutics Inc.', 'Spark Therapeutics Inc. (a subsidiary of Roche Holding AG)', 'Osiris Therapeutics Inc. (a subsidiary of Smith & Nephew plc)', 'Fibrocell Science Inc. (now part of Castle Creek Pharmaceuticals LLC)', 'Mesoblast Limited', 'TiGenix NV (a subsidiary of Takeda Pharmaceutical Company Limited)', 'Sangamo Therapeutics Inc.', 'Celyad Oncology SA', 'Gamida Cell Ltd.', 'JCR Pharmaceuticals Co. Ltd.', 'Cytori Therapeutics Inc.', 'Athersys Inc.', 'DiscGenics Inc.', 'BrainStorm Cell Therapeutics Inc.'.

What is the key driver of Global Cell Therapy Market?

The demand for novel, better medicines for illnesses like cancer and CVD has led to a rise in general research efforts, as well as financing for cell-based research.

What is the key market trend for Global Cell Therapy Market?

The expansion of the cell therapy market was aided by the growing frequency of chronic illnesses. Chronic illness is defined as a condition that lasts one year or more and requires medical treatment, affects everyday activities, or both, according to the US Centers for Disease Control and Prevention (CDC). It includes heart disease, cancer, diabetes, and Parkinson's disease. Patients with spinal cord injuries, type 1 diabetes, Parkinson's disease (PD), heart disease, cancer, and osteoarthritis may benefit from stem cells.

Which region accounted for the largest share in Global Cell Therapy Market?

In 2020, North America is expected to have the biggest market share of 42.0%. The existence of a significant number of institutions and institutes involved in stem cell treatment research and development accounts for the region's large share. Five of the eight top colleges in the world are situated in the United States, including Stanford University's Institute for Stem Cell Biology and Regenerative Medicine, Harvard University's Harvard Stem Cell Institute, and Yale University's Yale Stem Cell Center. Over the projected period, the market for cell therapy in the Asia Pacific is expected to develop at a profitable rate. The growing investment by developers and customers in self-education for sophisticated medical therapies is expected to enhance the income generated by the region's expanding economies. In Asian nations, there are a number of stem cell consortiums whose goal is to ensure that R&D activities are well-coordinated and targeted. Furthermore, because of the legal framework's flexibility, patients from Western nations have been spotted migrating to Asian countries for treatment.

Cell Therapy Market Size, Share, Growth Analysis, By Cell Type(Stem Cell (Bone Marrow, Blood, Umbilical Cord-Derived, Adipose-Derived Stem Cell), By Therapy Type(Autologous, Allogeneic), By End User(Hospitals & Clinics, Academic & Research Institutes), By Therapeutic Area(Malignancies, Musculoskeletal Disorders, Autoimmune Disorders, Dermatology), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35H2061 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 132 | Figures: 77

Cell Therapy Market Dynamics

Cell Therapy Market Driver

Demand for Personalized Medicine

Rapidly increasing demand for personalized medicine around the world is boosting the adoption of novel cell therapies as they are crucial in targeting specific characteristics of an individual. Cell therapies also help in identifying the efficacy of therapy on an individual to reduce the risk of rejection.

Advancements in Stem Cell Research

Reseach on stem cells has come a long way and most cell therapies are building on the knowledge obtained through stem cell research. These advancements are further opening new scope for innovation for cell therapy companies.

Restraints

Immune Rejection Risk

There is always a risk of immune rejection for cell therapies, and this is an issue that is influentially impeding market growth potential. This is a particular threat for allogeneic cell therapies thereby slowing cell therapy adoption.

High Costs of Development

Extensive amount of research and resources required for cell therapy research and development lead to high costs. Cell therapy treatments are also quite expensive due to their novel nature and these high costs inhibit cell therapy market growth.

Cell Therapy Market Report Snapshots

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Global Cell Therapy Market size was valued at USD 3.9 Billion in 2022 and is poised to grow from USD 6.7 Billion in 2023 to USD 190.91 Billion by 2031, growing at a CAGR of 52% during the forecast period (2024-2031).

Cell therapy companies can also benefit from government grants and supportive initiatives launched to help boost medical R&D. Cell therapy providers should invest heavily in research to boost innovation and stand out from the competition. New companies can penetrate the market with hefty capital raise and innovative approach to compete with established market players. Integration of advanced technologies to fast-track development will also be a key strategy for cell therapy companies in the future. 'Thermo Fisher Scientific, Inc. (US) ', 'Merck KGaA (Germany) ', 'Danaher Corporation (US) ', 'Becton, Dickinson, and Company (US) ', 'Lonza Group (Switzerland) ', 'Sartorius AG (Germany) ', 'Nkarta, Inc. (US) ', 'Aurion Biotech (US) ', 'S. BIOMEDICS (Europe) ', 'MEDIPOST (South Korea) ', 'Anterogen Co., Ltd. (South Korea) ', 'JW Therapeutics (China) ', 'JCR Pharmaceuticals Co., Ltd. (Japan) ', 'Johnson & Johnson Services, Inc (US) ', 'Bristol-Myers Squibb Company (US) ', 'Gilead Sciences, Inc. (US) ', 'Novartis AG (Switzerland) ', 'Intellia Therapeutics (US) ', 'Iovance Therapeutics (US) ', 'CRISPR Therapeutics (Switzerland)'

Rapidly increasing demand for personalized medicine around the world is boosting the adoption of novel cell therapies as they are crucial in targeting specific characteristics of an individual. Cell therapies also help in identifying the efficacy of therapy on an individual to reduce the risk of rejection.

The prevalence of cancer has increased exponentially on a global level and so has the need for novel treatments as well. CAR-T (Chimeric Antigen Receptor T-cell) therapy is emerging as a popular immunotherapy for the treatment of various cancers, companies can capitalize on this trend to maximize their business scope in the long run.

North America is projected to account for a dominant share of the global cell therapy market in the future. High investments in medical R&D, the presence of key biotechnology companies, and supportive government funding are key factors that are estimated to help the high market share of this region. Canada and the United States are slated to be the top markets for cell therapy companies in this region. High demand for cell therapies to treat chronic diseases will also favor market growth in this region.

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Cell Therapy Market Dynamics

Cell Therapy Market Report Snapshots

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What is the global market size of Cell Therapy Market?

Who are the key vendors in the Cell Therapy Market?

What is the key driver of Cell Therapy Market?

What is the key market trend for Cell Therapy Market?

Which region accounted for the largest share in Cell Therapy Market?

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