Jul 20, 2020 7:00 PM ET
iCrowd Newswire – Jul 20, 2020
Given the debilitating impact of COVID-19 (Coronavirus) on Cell Therapy Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Cell therapy is considered an integral part of immunotherapy and has shown excellent therapeutic ability in clinical indications. Studies related to the use of cells for therapeutic ability has gained tremendous popularity in healthcare as well as scientific community. The cell therapy market has gained immense popularity globally due to the advent of techniques like stem cell therapy, CAR-T cell therapy, and cord blood cell therapy. Each of the therapies has gained traction owing to their extensive application in cancer and cardiovascular diseases. The global cell therapy market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 22.36%, surpassing a valuation of USD 20,217.00 million during the forecast period (2018-2023).
The market is likely to benefit from the introduction of new cell types, which offer companies huge opportunities to reinforce their position in the global market. This has resulted in companies to involve in the development of cell therapy. The advent of effective guidelines for manufacturing cell therapy increased funding from private and government organizations in order to encourage cell therapy clinical trials, and effectiveness of products are promoting the market growth globally.
The development of cell banking facilities, coupled with the expansion of production, characterization, and storage of cells, are improving the volumetric capabilities of the cytotherapy market. This has further resulted in an increased revenue generation for non-stem and stems cells therapy across the globe. The high adoption of regenerative medicine along with the advent of novel technologies and platforms have resulted in the market to flourish.
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Cell Therapy Market: Segmental Analysis
The cell therapy market has been segmented on the basis of type, product, technique, technology, cell source, application, and end user.
By type, the cell therapy market is segmented into allogeneic and autologous. Of these, autologous cell therapy is likely to acquire the largest share in the global market.
By product, the cell therapy market is classified into equipment, consumables, software, and other services. Of these, the consumables segment is likely to register significant growth due to increased incidences of infectious diseases. Increased investments by companies in order to develop advanced products, coupled with government initiatives to enhance cell-based research, are highly encouraging the market growth in the segment.
The technique segment comprises cell vaccine, stem cell therapy, fibroblast cell therapy, adoptive cell transfer (ACT), and chondrocyte cell therapy.
Considering the technology segment, the market is segregated into cell immortalization technology, viral vector technology, and genome editing technology.
The cell source segment is segmented into adipose tissue, bone marrow, and umbilical cord blood-derived cells. Of these, the demand for bone marrow transplantation is on the rise due to increased treatment of ischemic heart diseases.
By application, the market is segmented into cardiovascular disease (CVD), oncology, wound healing, and orthopedic. Of these, the cardiovascular diseases segment will gain prominence in the long run due to the increased availability of stem cell-based products to treat musculoskeletal disorders, soaring incidences of bone & joint diseases and musculoskeletal disorders, and rising patient preference for early and effective treatment strategies.
Based on the end users, the market is segregated into regenerative medicine centers, hospital & clinics, and research institutes. Of these, the research institutes are likely to gain prominence due to the increased adoption of advanced instruments in the research of cancer and cell-based experiments, coupled with the soaring number of R&D facilities across the globe.
Cell Therapy Market Regional Frontiers
Geographically, the cell therapy market spans across Europe, North America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, America commanded the largest market share of 37.6% in 2017. The region is predicted to register a CAGR of 21.45%. In this region, North America is estimated to acquire the largest share due to the presence of strong regulatory framework in order to promote cellular therapy development, the existence of industry bigshots, and high cost of therapies in the U.S.
Europe is anticipated to exceed a valuation of USD 6,357.79 million by the end of 2023, with high-income economies spending a considerable percentage of their annual health budget on the treatment of chronic diseases. The presence of well-established healthcare infrastructure, coupled with the increased adoption of cell therapy for cancer, orthopedic, and wound healing are likely to contribute to the market growth.
The Asia Pacific will register the highest growth owing to the surging investments by consumers and developers to educate themselves for advanced medicinal therapies.
Cell Therapy Industry Updates
August 2019: Immatics Biotechnologies has entered a partnership with Summit, New Jersey-based Celgene to develop TCRs or T-cell receptor therapies. It is a type of cell therapy which differs both in terms of function and structure from the familiar CAR-Ts.
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Cell Therapy Market Competitive Dashboard
The top players operating in the global cell therapy market include Vericel Corporation, Mesoblast Ltd, JCR Pharmaceuticals Co., Ltd, Osiris Therapeutics, Inc, Pharmicell Co., Ltd, NuVasive, Inc., AlloSource, RTI Surgical Holdings, Inc., Medipost Co., Ltd, Holostem Terapie Avanzate S.r.l.
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