Cell Therapy Market Synopsis:
Cells are transplanted into a patient’s body during cell therapy. These cells can either be extracted from the patient himself or another donor. It is used to cure different diseases and, therefore, has gained popularity among the population. Market Research Future (MRFR)’s assessment prognosticates that the global cell therapy market is set to reflect a CAGR of 22.36% during the forecast period 2018 to 2023.
Rising occurrences of diseases are expected to increase demand for cell therapy process for healing in the years to come. In addition, the market is poised to gain traction over the next couple of years owing to the accelerated research & development activities for the development of advanced cell therapies.
Cell therapy treatment is highly leveraged for curing cancer and is expected to witness rapid developments in the foreseeable future. It is poised to aid the proliferation of the cell therapy market across the review period. However, stringent legislation regulating the treatment is expected to undermine the proliferation of the cell therapy market in the near future.
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Cell Therapy Market Segmentation:
By type, the global cell therapy market has been segmented into autologous and allogeneic.
By product, the cell therapy market has been segmented into Consumables (Vessel/Media/Serum/Reagent), and software & other services.
By technique, the global cell therapy market has been segmented into stem cell therapy, cell vaccine, Adoptive Cell Transfer (ACT), fibroblast cell therapy, and chondrocyte cell therapy.
By technology, the cell therapy market has been segmented into viral vector technology, cell immortalization technology, and genome editing technology.
By cell source, the global cell therapy market has been segmented into bone marrow, adipose tissue, and umbilical cord blood-derived cells.
By application, the cell therapy market has been segmented into oncology, cardiovascular disease (CVD), orthopedic and wound healing.
By end-user, the global cell therapy market has been segmented into hospital & clinics, regenerative medicine centers, and research institutes.
Cell Therapy Market Regional Analysis:
The global cell therapy market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Cell therapy has already gained popularity in North America and is anticipated to strike a CAGR of 21.45% over the assessment period. It held the majority of the market share in 2017 accounting for 37.6% share and is forecasted to maintain its prominence across the projection period.
Europe is a crucial growth pocket and has been projected to scale a valuation of USD 6,357.79 by the end of 2023. The increasing healthcare expenditure is projected to drive the growth of the regional market in the forthcoming years.
Cell Therapy Market Competitive Dashboard:
This MRFR report offers a detailed market share analysis which includes some of the key players, viz. Vericel Corporation, Mesoblast Ltd, Osiris Therapeutics, Inc, NuVasive, Inc., JCR Pharmaceuticals Co., Ltd, Pharmicell Co., Ltd, AlloSource, RTI Surgical Holdings, Inc., Holostem Terapie Avanzate S.r.l., and Medipost Co., Ltd.
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Cell Therapy Industry News:
In May 2019, Gilead Sciences Inc, an American biotechnology company that researches, develops and commercializes drugs, has announced that its cancer-focused cell therapy company which was acquired in 2017 will now operate as a separate business unit.
In May 2019, a draft has been proposed in China according to which some elite hospitals in the country would be able to sell experimental therapies that engineers patients’ cells for the treatment of diseases such as cancer.
In April 2019, Vineti Inc., a leading cloud-based platform has announced its partnership with Marker Therapeutics, Inc., a clinical-stage immuno-oncology company, for supporting a diverse cell therapy portfolio.
In April 2019, scientists at the University of Bristol have developed cell therapy for diabetes which produces a glue-like hydrogel for making the stem cells last for a longer period.