by Cell therapy involves the use of living cells to treat diseases including neurological disorders, cancer and cardiovascular diseases. It holds potential to treat conditions for which there are limited treatment options available by facilitating cell growth, replacement or regeneration. Cell therapies are emerging as alternative treatments for various chronic and acute conditions.
The global Cell Therapy Market is estimated to be valued at US$ 14.7 billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing applications of regenerative medicine is one of the key trends fueling growth of the cell therapy market. Regenerative medicine involves reinforcing or replacing cells/tissues to restore normal function. Cell therapy uses living cells to regenerate human cells, tissues or organs to restore normal function. It is regarded as a promising field within regenerative medicine for developing advanced treatment options for chronic diseases. Cell therapy holds potential to treat chronic diseases by facilitating regeneration of damaged cells or tissues. Currently, cell therapy is being extensively researched for treatment of cancer, cardiovascular diseases, neurological disorders and other chronic conditions. The use of regenerative approaches in cell therapy is expected to increase manifold over the forecast period.
SWOT Analysis
Strength: Cell therapies have shown promise in treating various diseases. Development of cell culture techniques has improved efficacy and safety.
Weakness: High costs involved in R&D and manufacturing of cell therapies. Complex regulatory pathways for approval.
Opportunity: Increasing prevalence of chronic diseases and cancer provides scope for cell therapy. Expanding applications in neurodegenerative and autoimmune diseases.
Threats: Risk of contamination during manufacturing. Chances of cell toxicity or rejection by patient’s immune system. Stringent regulations delay commercialization.
Key Takeaways
The Global Cell Therapy Market Size is estimated to be valued at US$ 14.7 billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023-2030.
Regional analysis shows North America currently dominates due to presence of key players and growing research funding. Asia Pacific is expected to witness fastest growth due to increasing healthcare expenditure and demand. Significant research funding from public and private sources for cell-based therapy development is boosting market growth. Asia Pacific is poised to witness fastest growth during the forecast period supported by increasing prevalence of cancer and chronic diseases. Expanding healthcare facilities, rising disposable incomes are supporting market growth.
Key players operating in the cell therapy market are Bristol-Myers Squibb, Medipost, Vericel Corporation, Osiris Therapeutics, and Anthropic. These players are focusing on developing advanced cell culture and isolation techniques to manufacture diverse cell therapy products. Partnerships with research institutes are a key strategy to fast track clinical research. Increased M&A activities are expected to change the competitive landscape in the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
