According to Data Bridge Market Research new Market report, global cell therapy market accounted to USD 5.35 billion in 2018 growing at a CAGR of 5.6% during the forecast period of 2019 to 2026.
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The Cell therapy is a type of therapy in which live cells that can be injected into a patient for the treatment of a number of disorders. Like, T-Cells are injected for the treatment of cancer as they are capable to fighting with cancer cells during the immunotherapy treatment course.
Global cell therapy market is segmented on the basis of Type, Technology, Cell Source, Application, End User and geography.
By Type (Autologous, Allogeneic), Technology (Somatic Cell, Immortalized Cell, others), Cell Source (Ipscs, Bone Marrow, others), Application (Musculoskeletal, Neurological, others) End User (Hospital & Clinics, Regenerative Medicine Centers, Diagnostic Centers, Research Institutes, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN CELL THERAPY MARKET
Rising Geriatric Population
According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.40 billion in 2030 and 2.10 billion in 2050, and could ultimately rise up to 3.10 billion in 2100.
Few of the major competitors currently working in the cell therapy market are Vericel, Kolon TissueGene Inc., JCR Pharmaceuticals Co. Ltd., MEDIPOST, Osiris, Stemedica Cell Technologies Inc., NuVasive Inc., Fibrocell Science Inc., Cellectis, BioNTech IMFS, pluristem, Grupo Praxis, Genzyme Corporation, Advanced Tissue, Cells for Cells, PHARMICELL Co. Ltd, ANTEROGEN.CO.LTD., Novartis AG, GlaxoSmithKline plc, CELGENE CORPORATION, Bone Therapeutics, Cell Therapies, Celyad, Regen BioPharma, Cellular Therapeutics Ltd, TxCell, and Advancells.
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