Global Cell Therapy Market to be Driven by Rapidly Growing Research and Development (R&D) Efforts and Advantageous Government Initiatives During the Forecast Period of 2021-2026
The new report by Expert Market Research titled, ‘Global Cell Therapy Market Size, Share, Price, Trends, Report and Forecast 2021-2026’, gives an in-depth analysis of the global cell therapy market, assessing the market based on its segments like applications, manufacturing process and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 7%
The industry is being propelled forth by increasing number of clinical trials for mitochondrial medicines. As a result, global investment in research and clinical application has increased significantly. The presence of government and commercial funding agencies that are constantly awarding grants to assist clinical trials at various stages can be attributed to the expanding number of ongoing clinical trials. Additionally, market growth has been aided by the continuous introduction of new technologies that have facilitated the creation of novel medicines. The introduction of proprietary cell lines is often recognized as the most successful method for generating a diversified variety of alternatives from a single product. During the forecast period, this type of continual activity is likely to propel the market’s growth.
Industry Definition and Major Segments
Cell therapy (also known as organic transplantation or cytotherapy) is a type of therapy in which viable cells are implanted, grafted, or infused into a patient to achieve a therapeutic effect, such as by transplanting T-cells capable of fighting cancer cells via cell-mediated immunity during immunotherapy or by grafting stem cells to regenerate diseased tissues.
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By type, the market is divided into:
By therapies, the market is divided into:
- Allogenic therapies
- Autologous therapies
By region, the industry is categorized into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
The medical sector’s growing research and development (R&D) efforts are driving the market. The pandemic of COVID-19 is projected to have hastened pharmacological and biotechnological research efforts, including cell therapy. Because the lethal virus severely destroys the infected patient’s lungs and immune system, numerous cell treatments are increasingly being investigated as a viable cure for the unique disease, boosting market growth. Another breakthrough for the cell therapy market is expected to be the development of an effective treatment for solid tumors.
In the forecast period, the potential for cell therapy to cure significant diseases such as anemia, cancer, and Alzheimer’s disease, among others, is expected to boost the cell therapy business. The research-use category led the cell therapy market, accounting for the majority of the market share. Replacement, repair, restoration, and regeneration of damaged tissues, cells, and organs are all possibilities with cell-based therapies. As an alternative to standard treatment procedures, researchers are investing heavily in the creation of effective and safe remedies. The market for cell treatment is being driven by the growth of cell banking and companies’ shift toward the development of allogenic therapeutic products.
Due to the high prevalence of genetic illnesses, North America dominates the global cell and gene therapy market. The region’s large share can be linked to the presence of a large number of centers and institutes working in stem cell treatment research and development. Over the projected period, the market for cell therapy in Asia and the Pacific is expected to develop at a robust pace. The growing investment by developers and consumers in self-education for advanced medicinal therapies is expected to improve revenue generated by the region’s emerging economies.
In Asian countries, there are a number of stem cell consortiums whose goal is to ensure that R&D projects are well-coordinated and targeted. Furthermore, because of the flexibility in the legal framework, many patients from western countries have been spotted migrating to these Asian countries for their treatment. Factors such as advantageous government initiatives and an increase in the number of research collaborations among top market players are expected to drive the growth of the global market.
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Key Market Players
The major players in the market are Pfizer Inc., F. Hoffmann-LA Roche Ltd, Sanofi SA, Bristol-Myers Squibb Company, AbbVie Inc., Novartis AG, GlaxoSmithKline PLC, Amgen Inc., Johnson & Johnson, and Takeda Pharmaceutical Co. Ltd, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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