Cell Therapy Market to grow at a stellar pace reflecting a 10.6% CAGR by 2023

Posted by Sapana on March 20th, 2019

The global cell therapy market is due to grow at a CAGR of 10.6% during the forecast period of 2017 to 2023 according to Market Research Future's latest report on the subject. Cell therapy has emerged as a transformative field in biotechnology due to its use for the targeting of various diseases at a cellular level. The above-average growth expected by this market will primarily be due to the rapidly advancing healthcare sector and growing breakthrough research and development activities.

Cell therapy is finding a growing number of applications in healthcare and is often used in combination with gene therapy. Presently, applications of cell therapy include urinary problems, cancers, autoimmune disease, and infectious disease among several others. The growing prevalence of chronic and lifestyle diseases is an important driver for the cell therapy market. Cell therapy is also being developed in regenerative medicine which carries massive potential once it clears the research phase. Increasing geriatric population with health issues and technological advancements are some other factors governing market growth. government assistance for research and improvements being made in existing regulatory frameworks are expected to pave the way for future market opportunities.

However, it should be noted that the high cost of manufacturing at present and the lack of awareness or appropriate healthcare infrastructure are expected to challenge market growth.

Market Segmentation

The global cell therapy market is segmented on the basis of cell source, type, technology, application, end-user, and region. By type, the market is divided between autologous and allogeneic.

By technology, the market is segmented into viral vector technology, somatic cell technology, cell immortalization technology, genome editing technology, cell plasticity technology, and three-dimensional technology. The viral vector segment is sub-segmented into in-vivo gene modification of cells and ex-vivo gene modification of cells.

By cell source, the market is segmented to include bone marrow, umbilical cord blood-derived cells, adipose tissue, pluripotent stem cells (iPSCs), and neural stem cells.

By application, the market is segmented into cardiovascular, musculoskeletal, gastrointestinal, neurological, dermatology, oncology, wound & injuries, ocular, and others.

By end-user, the market is categorized into regenerative medicine centers, diagnostic centers, hospitals & clinics, research institutes and others.

The regional segmentation of the market divides it into the Americas, Europe, Asia Pacific and the Middle East & Africa.

Regional Analysis

The Americas with their inclusion of North America lead the market with the largest share due to the rising awareness regarding cell therapy in the region and the presence of an advanced healthcare sector. High healthcare expenditure, the presence of a large geriatric population and the growing demand for effective regenerative medicine are some of the important factors driving market growth. Europe accounts for the second largest regional segment due to the comparable growth pattern to that of the Americas. Moreover, the region has forward-thinking government policies which support research and development in the advancement of the healthcare sector.

The Asia Pacific accounts for the fastest growing region in the global market due to the presence of a massive patient pool and a rapidly developing healthcare sector. rising disposable incomes and urbanization in the region has increased the demand for advanced healthcare. Healthcare expenditure in the region is growing steadily and is expected to augment the cell therapy market in APAC.

Key Players

Prominent players in the global cell therapy market that have been included in MRFR's report are Cognate, ANTEROGEN.CO.,LTD., NuVasive, Inc., GlaxoSmithKline plc, Osiris, PHARMICELL, Pluristem, Genzyme Corporation, CELLECTIS, Advanced Tissue, Novartis AG, EUFETS GmbH, Cynata, BioNTech IMFS, JCR Pharmaceuticals Co., Ltd, Grupo Praxis, and MEDIPOST among others.

Latest Industry News

• Novartis has received approval from the European commision for its CAR-T cell therapy.
• After partnering with Regeneron, Bluebird is now looking out for more partnerships and collaborations to add to its capabilities as it works toward the advancement of cell therapy.