Cell therapy is a technology, which relies on replacing diseased or dysfunctional cells with healthy functioning ones. Cells mainly used for such advanced therapies are stem cells, owing to their ability to differentiate into specific cells required for repairing damaged or defective tissues or cells. Moreover, cell therapy finds its application in development of regenerative medicines, which is a multidisciplinary area aimed at maintenance, improvement, or restoration of cells, tissues, or organ functioning, using methods mainly related to cell therapy.
List of Key Players
The report provides a comprehensive analysis of the leading companies operating in the global cell therapy market are Kolon Tissue Gene, Inc., Osiris Therapeutics, Inc., JCR Pharmaceuticals Co. Ltd., NuVasive, Inc., Stemedica Cell Technologies, Inc., Cells for cells, HolostemTerapieAvanzateS.r.l., Mesoblast Ltd., and Medipost Co., Ltd.
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Development of cell banking facilities, coupled with expansion of production, characterization, and storage of cells have improved volumetric capabilities of the cell therapy market. This has further resulted in increase in revenue generation for non-stem and stem cell therapies across the globe. High adoption of regenerative medicine along with the advent of novel technologies and platforms boost the market growth.
Almost every nation is dealing with the outbreak. Most markets are dropping down, owing to the outbreak, including the cell therapy market. The cell therapy market is negatively impacted by the pandemic as most countries adopted lockdown to combat the pandemic. In addition, most of the clinics across the globe have stopped undertaking new cases of stem cell therapy, organ transplant and other treatment for next few months, till the condition seems to be under control.
Chronic diseases and conditions are on the rise across the globe. According to the World Health Organization, chronic disease prevalence have risen by 57% in 2020. Emerging markets would be the hardest hit, as population growth is anticipated to be most significant in developing nations.
Furthermore, increase in demand for healthcare systems, owing to chronic diseases has become a major concern. Therefore, healthcare expenditures greatly increase, with each additional chronic condition having greater specialist physician access, emergency department presentations, and hospital admissions.
Thus, rise in prevalence of chronic conditions, government assistance, and numerous companies investing heavily in stem cell therapy research and development are anticipated to stimulate the industry growth. Proven effectiveness of cell therapy products, coupled with increasingly favorable guidelines pertaining to cell therapy research and manufacturing are also expected to positively impact the global cell therapy market.
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By cell type, the stem cell segment is anticipated to dominate the global market during the forecast period, as these are gaining popularity from initiatives taken by various governments. The number of stem cell banks are increasing in developing nations, which further propels the market growth. In addition, rise in awareness regarding storage of stem cells also have a positive effect on the cell therapy market.
By therapy type, the allogenic therapy segment dominated the market in 2019. This therapy is advantageous as it includes production of own immune stem cells, which could kill cancer cells that remain even after high-dose cytotoxic drugs treatment. Patients, who have a high risk of relapse after successful treatment of chemotherapy are recommended allogeneic transplants. Thus, rise in cases of cancer relapse fuels the demand for allogeneic therapy in the global cell therapy market.
By therapeutic area, the malignancies segment is anticipated to dominate the global market during the forecast period. Surge in cancer research, rise in geriatric population worldwide, and increase in adoption of cell therapy for treatment of malignancies are major factors that boost the market growth. By end user, the hospitals & clinics segment are forecasted to grow at the highest CAGR during the forecast period. The lucrative growth in of segment is attributed to increase in number of pipeline projects over the past few years. As per the Cancer Research Institute (CRI), number of cell therapy treatment projects increased from 753 in 2018 to 1,011 in 2019.
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