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 31.2
Billion by 2032, at a CAGR of 9.1% from 2023 to 2032, 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.
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.
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.
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