The cell Therapy Market is expected to reach USD 26.9 billion by 2030, growing at a CAGR of 9.3% between 2022 and 2030.
The cell therapy market is expected to grow steadily due to the rising prevalence of chronic diseases, increased adoption of regenerative medicine, and an increase in the number of clinical studies on the development of cellular therapies. As a result, the rising prevalence of chronic diseases, government support, and numerous companies investing heavily in stem cell therapy research and development are expected to drive industry growth. The proven efficacy of cell therapy products, combined with increasingly favourable guidelines on cell therapy research and manufacturing, is expected to boost market growth during the forecast period.
The COVID-19 pandemic has affected the majority of biopharmaceutical entities. In contrast, several cellular therapy development companies have seen a significant negative impact, which can be attributed to logistics issues and the manufacturing models used in this industry. Furthermore, substantial and consistent funding is required to ensure successful commercial translation of cell-based therapeutics, a factor negatively impacted in 2020, limiting the market growth. Furthermore, an increase in financing and investments to support the launch of new companies is expected to boost the market’s organic revenue growth.
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The global cell Therapy Market is segmented by product, type, technique, end-user, cell source, technology and application.
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The global Cell therapy market is divided into Asia-Pacific, North America, Europe and rest of the World. North America is expected to retain the largest share of the cell therapy market because of the industry’s key players, strong regulatory framework to promote cellular therapy development, and leading universities supporting research activities in the United States. The rising adoption of regenerative medicine, rising prevalence of chronic conditions, and increased clinical studies on the development of cellular therapies are all factors contributing to the region’s rapid growth. Rising market participant investments in the development and expansion of cell-based therapies in the United States are expected to drive the North American market.
Cell therapy is expected to grow at a 15.52% CAGR in the Asia-Pacific over the forecast period. The increasing investment by developers and consumers in educating themselves for advanced medicinal therapies is expected to increase revenue generated by this region’s developing economies. In Asian countries, several stem cell consortiums exist to ensure coordinated and focused R&D programmes. Furthermore, due to the flexible legal framework, patients from Western countries have been observed to migrate to Asian countries for treatment.
key companies are Mesoblast Ltd, Vericel Corporation, Osiris Therapeutics, Inc., JCR Pharmaceuticals Co., Ltd., NuVasive, Inc., Pharmicell Co., Ltd.,RTI Surgical Holdings, Inc., AlloSource, Holostem Terapie Avanzate S.R.L., Medipost Co., Ltd.
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