by Cell therapy is an evolving form of medical treatment that involves the transplantation of viable human cells into a patient with the objective to cure disease or repair damaged tissues and organs. Cell therapies help patients suffering from a wide range of conditions like cancer, genetic disorders, and cardiovascular diseases.
The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Maarket Insights.
Market key trends:
Growing adoption of cell therapies in clinical practices is expected to drive the global cell therapy market growth over the forecast period. Cell therapy is gaining prominence due to its superior efficacy over conventional treatment options for chronic and life-threatening conditions. For instance, chimeric antigen receptor T cell (CAR-T) therapy has demonstrated high success rates in treating hematologic cancers. Rising investments in clinical trials to evaluate the therapeutic potential of cell therapies in treating hard-to-cure diseases such as Parkinson’s, Alzheimer’s, heart failure, and diabetes will further support the market growth.
SWOT Analysis
Strength: Cell therapy market possesses potential to treat chronic diseases like cancer and cardiac ailments. It helps patients avoid side effects of drug therapies.
Weakness: High costs associated with cell therapy research and development. Stringent regulations for clinical trials and product approvals.
Opportunity: Rising numbers of clinical trials for new cell therapies present growth opportunities. Growing focus on personalized medicine and regenerative therapies.
Threats: Risks of cell rejection and host immune responses. Dependence on donor availability for some cell therapies.
Key Takeaways
Global Cell Therapy Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the global cell therapy market. Presence of advanced healthcare infrastructure, rising cancer incidence, and increasing funding for cell-based research drives the North American market. The U.S. accounts for the largest share due to presence of advanced research facilities and growing adoption of new cell therapies.
Key players operating in the cell therapy market include Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Cryo-Cell International, Inc., Cellular Biomedicine Group, Vericel Corporation, and others.Key players are primarily focused on expansion of manufacturing facilities, new product development through R&D, and collaborations to strengthen their market position. For instance,Abbott Laboratories acquired stem cell therapy company St. Jude Medical in 2017 to enhance its portfolio of cardiovascular devices and medical technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
