July 15, 2024
Cell Therapy Market

Stem Cell Therapy Is The Largest Segment Driving The Growth Of Cell Therapy Market

The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn or Million in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cell therapy products treat various diseases such as cancer, neurological disorders, and cardiac dysfunction. Stem cell therapy uses stem cells and their derivatives to treat damaged or diseased tissues and organs. It has potential applications in treating cancers like leukemia, neurological disorders like Alzheimer’s disease, and cardiac dysfunction among others.

Market Key Trends:

The rising prevalence of chronic diseases such as cancer, cardiovascular diseases, neurological disorders is expected to drive the global cell therapy market growth. For instance, according to World Health Organization (WHO), cancer burden has risen to 19.3 million cases and 10.0 million cancer deaths in 2020. Further, increasing research initiatives by key players for developing novel cell therapies and rise in clinical trials is also expected to boost the market growth over the forecast period. For example, in May 2022, the National Institute of Health (NIH) launched a $50 million initiative for developing adeno-associated virus (AAV)-based gene therapies for genetic and rare diseases.

Market Key Trends:

The cell therapy market has been witnessing rising demand in recent years, driven by significant therapeutic potential of cell therapies in treating various chronic and life-threatening diseases. Increase in research funding for cell-based therapies from both public and private entities is boosting research activities to develop more effective cell therapies. In addition, advancement in cell cultivation, cell engineering and processing technologies are helping expand the clinical applications of cell therapies.

SWOT Analysis

Strength: Cell therapies offer potential cure for various diseases with no available cure. They can regenerate diseased or damaged cells and tissues of the body.

Weakness: High costs associated with R&D and manufacturing of cell therapies. Stringent regulatory requirements delay market availability.

Opportunity: Rising incidence of chronic diseases worldwide is presenting opportunities for Cell Therapy Market. Many clinical trials underway evaluating applications of cell therapies in oncology, musculoskeletal disorders offer future growth prospects.

Threats: Current cell therapy technologies have limitations. Risks of transplant rejections and shortage of donor cells pose challenges. Intense competition from alternative treatment options.

Key Takeaways

The global Cell Therapy Market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of chronic diseases and rising demand for effective therapies.

The market size for 2023 is estimated to be US$ 844.7 Mn. North America currently dominates the global market due to robust research funding and clinical trials in the region. However, Asia Pacific region is expected to grow at fastest pace owing to rising Healthcare expenditure and rising patient pool.

Key players operating in the cell therapy market are Stempeutics Research Pvt. Ltd., Medipost Co. Ltd., Nipro Corporation, Dendreon Pharmaceuticals LLC, Organogenesis Inc., Novartis AG, Vericel Corporation, Allogene Therapeutics Inc., Gilead Sciences Inc. (Kite Pharma Inc.), and Takeda Pharmaceutical Company Limited (TiGenix), among others.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it