Cell Therapy Market Insights
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 processing 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.
The cell therapy market size is projected to reach USD 26.9 Billion by 2030, at a CAGR of 9.3% from 2022 to 2030, according to Market Research Future's latest report on the subject. Cell therapy market 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.
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 outlook is segmented based on 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 centres, diagnostic centres, 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.
Cell Therapy Market Players
The global cell therapy market players 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.
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