Cell Therapy Market is Growing Rapidly with a CAGR of 14.5% by 2028, Based on Growing Number of Cell Therapy Clinical Studies | Grand View Research, Inc.
According to a new report published by Grand View Research, the gradual emergence of new technologies to support the development of advanced therapies has contributed to the growth of the global cell therapy industry.
Cell Therapy Industry Overview
Global Cell Therapy Market size was valued at USD 7.8 Billion in 2020 and is projected to reach USD 23.0 Billion by 2028, growing at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028.
The market is mainly driven by the increasing number of clinical studies on cell therapies. This has resulted in substantial global investment in research and its clinical translation. The growing number of ongoing clinical trials can be attributed to the presence of government and private funding agencies that consistently offer grants to support projects at various stages of clinical trials.
Gather more insights into the market drivers, restraints, and growth of the Global cell therapy market
In addition, the field of regenerative medicine is experiencing a series of advances, which should additionally offer effective treatment solutions for chronic diseases. Several companies in growth markets, such as Canada, are at the forefront, striving to capitalize on the untapped potential of the cell therapy market. For example, RepliCel invests in multiple projects in regenerative medicine. For example, in February 2021, the company announced plans for the commercialization and clinical testing of 3 additional technologies in Japan. These include 2 cell therapies – one for skin rejuvenation and the other for tendon regeneration.
Moreover, the gradual emergence of new technologies to support the development of advanced therapies has contributed to the growth of the market. The introduction of proprietary cell lines is considered the primary means by which a unique product can be leveraged for the production of a strong pipeline of candidates. For example, Immunicum uses Chimeric Antigen Receptor T (CAR-T) cell expansion, dendritic cell neoantigen presentation technology, and T cell primers to advance their immuno-oncology product line.
Additionally, direct cell reprogramming has received considerable attention as a novel therapeutic strategy. This can be attributed to its higher efficacy and safety. A private company, Fortuna Fix, is developing a strategy to become the first company to begin clinical use of neural stem cells from patients, which will be produced by direct reprogramming to replace neural tissue lost in the event of neurodegeneration or neurotrauma. These ongoing activities are expected to enhance revenue generation in the future.
With major efforts to curb the COVID-19 outbreak, the cell therapy market has been impacted to some extent. Ongoing research progress is concerning as many universities around the world have slowed down their registration process for clinical tests as well as for all other research activities. The market, however, continues to grow with many companies like Novartis offering access to their therapies. Additionally, Athersys, Inc.’s MultiStem is considered a highly relevant potential therapy for COVID-19.
Cell Therapy Market Segmentation
Based on type of use Knowledge the market is segmented into clinical use, research use
- The research utilization segment dominated the cell therapy market and accounted for the largest revenue share of 60.9% in 2020. Stem cells are mainly used for research projects, which in turn led to a significant share of research revenue. use segment.
- The clinical use segment is expected to grow at a gradual pace of 13.4% over the forecast period owing to the lower penetration of this segment. However, few cell therapies are approved for clinical applications such as CARTISME, Invossa, MACI, Epicel, Cellgram-AMI, Cupistem, Cellistem IC, GINTUIT, Prochymal and Imlygic, which should encourage companies to invest in this segment.
Based on Information about the types of therapy the market is segmented into Allogeneic therapies, Autologous therapies
- The autologous therapies segment dominated the cell therapy market and accounted for the largest revenue share of 53.2% in 2020. The segment is expected to maintain its dominance during the forecast period.
- The allogeneic therapies segment is expected to grow relatively slowly from 2021 to 2028 due to the high cost associated with allogeneic transplants and relatively lower relapse rates. However, the growth of cell banks and the shift of companies towards the development of allogeneic therapy products are driving the cell therapy market.
Based on Regional outlook the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
- North America is estimated to hold the largest market share of 52.7% in 2020. The large share of the region can be attributed to the presence of a large number of centers and institutes engaged in R&D relating to stem cell therapy. Of the 8 leading universities in the world, 5 are US-based institutes, including the Institute of Stem Cell Biology and Regenerative medicineStanford University, Harvard Stem Cell Institute, Harvard University and Yale Stem Cell Center.
- In Asia-Pacific, the cell therapy market is expected to witness a lucrative growth rate of 15.52% during the forecast period. Growing developer and consumer investment in advanced medical therapy education is expected to increase the revenue generated by developing economies in this region.
Market share overview
- February 2021: RepliCel has announced plans for the commercialization and clinical trials of 3 additional technologies in Japan. These include 2 cell therapies – one for skin rejuvenation and the other for tendon regeneration.
- September 2020: The FDA has granted Investigational New Drug approval to Stemedica Cell Technologies, Inc. to conduct phase II trials for allogeneic MSCs administered intravenously in covid-19 patients.
Profile of key companies:
Some of the Major Cell Therapy Market Players Include:
- Kolon TissueGene, Inc.
- Anterogen Co., Ltd.
- JCR Pharmaceuticals Co., Ltd.
- Castle Creek Biosciences, Inc.
- The future of biotechnology, MEDIPOST
- Osiris Therapeutics, Inc.
- PHARMICELL Co.,Ltd
- Tameika Cell Technologies, Inc.
- Cells for cells
- NuVasive, Inc.
- Vericel Corporation
- Celgene Company
Order a free sample PDF of the Cell Therapy Market Intelligence study, published by Search Grand View.
About Grand View Research
Grand View Research is a full-time market research and consulting firm registered in San Francisco, California. The company offers comprehensive, customized and syndicated market reports based on in-depth data analysis. It also offers consultancy services to business communities and academic institutions and helps them understand the global and business scenario to a great extent. The company operates in a multitude of fields such as chemicals, materials, food and beverages, consumer goods, healthcare and information technology to offer consultancy services.
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