Cell therapy holds profound importance as a revolutionary medical approach, harnessing the therapeutic potential of living cells to treat various diseases. It offers personalized treatment options, addressing individual patient needs and factors. This innovative field has shown remarkable efficacy in treating conditions such as cancer, autoimmune disorders, and degenerative diseases, providing alternatives where conventional treatments fall short. With the ability to repair, replace, or regenerate damaged tissues, cell therapy represents a paradigm shift in medicine, offering hope for patients with limited treatment options and contributing to the advancement of precision medicine.
According to Data Bridge Market Research analyses, the Global Cell Therapy Market, which was USD 14,892.00 million in 2022, is expected to reach USD 60,696.42 million by 2030 and is expected to undergo a CAGR of 19.2% during the forecast period of 2023 to 2030.
"Rise in need for potent treatments boosts the market growth"
The escalating demand for potent treatments is a driving force in the global cell therapy market. As traditional therapeutic options face limitations, there is a growing recognition of the potential of cell therapy to address unmet medical needs. Cell therapy's ability to provide targeted and personalized treatments, particularly for challenging and chronic conditions, positions it as a critical solution. This increasing need for more effective and powerful treatments propels the growth and adoption of cell therapy on a global scale.
What restraints the growth of the global cell therapy market?
“High cost associated with the treatment hinders the market growth”
The global cell therapy market faces a significant challenge due to the high cost associated with the treatment. The research, development, and manufacturing expenses of cell therapy products contribute to elevated treatment costs. This financial barrier poses a challenge for widespread adoption, potentially limiting patient accessibility and market expansion.
Segmentation: Global Cell Therapy Market
The global cell therapy market is segmented on the basis of technology, type, cell type, cell source, application, and end-user.
- On the basis of technology, the global cell therapy market is segmented into somatic cell technology, cell immortalization technology, viral vector technology, genome editing technology, cell plasticity technology, and three-dimensional technology
- On the basis of type, the global cell therapy market is segmented into autologous, and allogeneic
- On the basis of cell type, the global cell therapy market is segmented into stem cell and non-stem cell
- On the basis of cell source, the global cell therapy market is segmented into iPSCs, bone marrow, umbilical cord blood-derived cells, adipose tissues, and neural stem cell
- On the basis of application, the global cell therapy market is segmented into musculoskeletal, cardiovascular, gastrointestinal, neurological, oncology, dermatology, wounds and injuries, ocular, and others
- On the basis of end-user, the global cell therapy market is segmented into hospitals and clinics, regenerative medicine centres, diagnostic and research centres, and others
Regional Insights: North America is expected to dominate the Global Cell Therapy Market
North America is expected to dominate in the global cell therapy market, driven by its robust healthcare infrastructure, a concentration of major industry players, and extensive healthcare facilities. The region's extraordinary healthcare ecosystem is a key factor contributing to its dominance, providing a conducive environment for cell therapy advancements. The prevalence of chronic disorders within a large population further solidifies North America's leadership in the global cell therapy landscape.
The Asia-Pacific is expected to experience substantial growth during the forecast period from 2023 to 2030. This is attributed to increased government initiatives promoting healthcare, rising health awareness, and a growing demand for advanced medical technology for treating chronic ailments. The region's large population pool and escalating demand for high-quality healthcare further contribute to the anticipated expansion of the cell therapy market in Asia-Pacific.
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-cell-therapy-market
Recent Developments in the Global Cell Therapy Market
- In December 2021, Century Therapeutics, a leading biotechnology firm, forged a strategic partnership with Bristol Myers Squibb, a prominent pharmaceutical company. The collaboration involved a licensing agreement to jointly develop and commercialize a maximum of four programs, focusing on induced pluripotent stem cell ("iPSC") derived, engineered natural killer cells ("iNK"), and T cells ("iT"). This collaborative effort is dedicated to advancing therapeutic solutions for hematologic malignancies and solid tumors
The Prominent Key Players Operating in the Global Cell Therapy Market Include:
- Vericel Corporation (U.S.)
- Kolon TissueGene Inc. (U.S.)
- JCR Pharmaceuticals Co. Ltd. (Japan)
- MEDIPOST (South Korea)
- Osiris (U.S.)
- Stemedica Cell Technologies Inc. (U.S.)
- NuVasive Inc. (U.S.)
- Fibrocell Science Inc. (U.S.)
- Cellectis (France)
- BioNTech IMFS (Germany)
- Pluristem (Israel)
- Praxis Pharmaceutical (U.S.)
- Genzyme Corporation (U.S.)
- Advanced Tissue (U.S.)
- Cells for Cells (Chile)
- PHARMICELL Co. Ltd (South Korea)
- ANTEROGEN.CO.LTD. (South Korea)
- Novartis AG (Switzerland)
- GlaxoSmithKline plc (U.K.)
- CELGENE CORPORATION (U.S.)
- Bone Therapeutics (Belgium)
- Cell Therapies (U.K.)
- Celyad (Belgium)
- Regen BioPharma (U.S.)
- Cellular Therapeutics Ltd (China)
- TxCell (France)
- Advancells (India)
Above are the key players covered in the report, to know about more and exhaustive list of global cell therapy market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cell Therapy Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
