According to a new report published by Allied Market Research, titled, “Cell Therapy Market by Cell Type, Therapy Type, Therapeutic Area, End User, and Region: Opportunity Analysis and Industry Forecast, 2020–2027,”The global cell therapy market accounted for $7,754.89 million in 2019, and is expected to reach $48,115.40 million by 2027, registering a CAGR of 25.6% from 2020 to 2027.
♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
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Key Findings of the Study –
- Depending on cell type, the stem cell segment held 56.6% share in the global market in 2019.
- By therapy type, the allogenic segment accounted for the largest cell therapy market share in 2019, and is expected to remain dominant throughout the forecast period.
- On the basis of end user, the academic and research institutes segment held 65.8% share in the global cell therapy market in 2019.
- On the basis of therapeutic area, the malignancies segment held 48.5% share in the global cell therapy market in 2019
- Region wise, Asia-Pacific is expected to exhibit highest CAGR of 31.6% during the forecast period.
Cell therapy is a technology that relies on replacing diseased or dysfunctional cells with healthy cells. The main cells used for these advanced therapies are stem cells, because of their ability to differentiate into cells that are necessary to repair tissues or cells that have been damaged or is disabled. In addition, cell therapy finds its application in the development of regenerative medicine, which is a multidisciplinary field to maintain, improve or restore the function of cells, tissues or organs, and using techniques related to cell therapy.
The development of banking facilities, along with the expansion of cell production, identification and storage, has increased the volumetric potential of the cell therapy market. This has led to increased funding for non-stem cell therapies around the world. The high adoption of regenerative medicine and the advent of new technologies and platforms are driving the growth of the market.
♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭:
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In 2019, North America was the largest financial contributor, due to the large amount of money from the government and private companies for clinical trials. However, Asia-Pacific is expected to experience the highest CAGR during the forecast period, owing to the availability of treatments at low cost, and the increase in demand among healthcare facilities and patients regarding the potential of these treatments in the management of chronic diseases.
Key Market Players –
Major key players that operate in the the industry are Kolon Tissue Gene, Inc., Osiris Therapeutics, Inc., JCR Pharmaceuticals Co. Ltd., NuVasive, Inc., Stemedica Cell Technologies, Inc., Cells for cells, Holostem Terapie Avanzate S.r.l., Mesoblast Ltd., and Medipost Co., Ltd.
By Region –
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
♦ 𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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