Increase in the incidence of cardiovascular diseases and surge in the demand for chimeric antigen receptor (CAR) cell therapy propel the global cell therapy processing market. However, poor demand from underdeveloped countries hinders the market growth. On the other hand, emerging markets are expected offer lucrative opportunities in the near future.
According to the report published by Allied Market Research, the global cell therapy processing industry garnered $1.69 billion in 2018, and is estimated to reach $12.06 billion by 2026, growing at a CAGR of 27.8% from 2019 to 2026. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, The growth of the cell therapy processing market is attributed to increase in the incidence of cardiovascular diseases. Furthermore, rise in the demand for chimeric antigen receptor (CAR) t cell therapy, and increase in the development of stem cell therapy approaches globe are the other factors that contribute to the growth of the cell therapy processing market.
Cell therapy is the transplantation of human cells to replace or repair damaged tissue or cells. With new technologies, innovative products and limitless imagination, many different types of cells may be used as part of a therapy or treatment for a variety of diseases and conditions. Some of the cells that may be used include mesenchymal stem cells, dendritic cells, hematopoietic stem cells, skeletal muscle stem cells, lymphocytes and pancreatic islet cells.
North America to maintain its dominance during the forecast period
Based on region, North America accounted for the highest market share in terms of revenue, accounting for nearly two-fifths of the global cell therapy processing market in 2018, and is estimated to maintain its dominance during the forecast period. This is attributed to presence of well-established healthcare infrastructure, higher buying power, and surge adoption of advanced medical therapies. In addition, rise in prevalence of osteoporosis coupled with surge in geriatric population fuels the growth of the market in this region. Moreover, Asia-Pacific is expected to maintain the highest CAGR of 29.0% from 2019 to 2026, owing to presence of huge patient base, increase in research and development expenditure, and surge in usage of cell therapy processing products.
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Leading market players
- Invitrx Inc.
- Cell Therapies Pty Ltd
- Lonza Ltd
- Merck & Co., Inc (FloDesign Sonics)
- NantWorks, LLC
- Neurogeneration, Inc.
- Novartis AG
- Plasticell Ltd.
- Regeneus Ltd
- StemGenex, Inc.
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