Cell Therapy Market is Predicted to Observe a Tremendous Growth, With a CAGR of 14.5% From 2021 To 2028: Grand View Research Inc.

 

The global cell therapy market size is expected to reach USD 23.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.5% from 2021 to 2028. The emergence of new technologies to support the development of advanced cellular therapies has aided in market growth. Companies are leveraging new technologies not only for the expansion of their product portfolio but also for establishing out-licensing or co-development agreements with other entities to support their product development programs.

Cell-based therapies hold great potential for replacing, repairing, restoring, or regenerating damaged tissues, and organs. Researchers are making huge investments in the development of such effective and safe treatments as an alternative to conventional treatment strategies which can be further attributed to the market growth. Out of all therapeutic areas, oncology has the highest number of ongoing clinical trials. T cells, CD34+ and/or CD133+ stem cells, mesenchymal stem/stromal cells are predominantly employed for clinical investigation.

The majority of biopharmaceutical entities have been affected by the COVID-19 pandemic, while several cellular therapy development companies have witnessed a strongly negative impact, which can be attributed to complications in logistics as well as the manufacturing models employed in this industry. In addition, substantial and stable funding is imperative to ensure successful commercial translation of cell-based therapeutics, a factor that was negatively affected in 2020, further affecting the market growth.

A survey conducted recently among executives of more than 15 European and U.S. cellular therapy companies indicated that disruption caused by the pandemic was significant, which demanded market entities to create strategies to sustain themselves and plan the next wave of innovative therapies.

Key issues faced by companies operating in the market include on-time delivery of therapies to patients at required clinical sites. In addition, the administration of these therapeutics poses several post-pandemic challenges. Hospitals are hesitant in offering services, owing to concerns over transmission of SARS-CoV-2, particularly to vulnerable individuals. Moreover, patients have not been able to visit cellular therapy centers either, owing to the lockdowns and travel bans.

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Cell Therapy Market Report Highlights

• The research-use segment dominated the market and accounted for the highest revenue share in 2020 attributed to extensive research activities for developing effective cell and gene therapies
• Several cells such as neural, epithelial, bone marrow mononuclear, fibroblasts, corneal, antigen-presenting, and chondrocytes, are being explored for the development of novel therapies
• The clinical-use segment is expected to witness relatively slow growth through the forecast period owing to the limited number of FDA-approved cellular therapies
• Moreover, there is a withdrawal of several commercialized products and less number of approved products for clinical-use which further affects the growth of the clinical-use segment
• Based on the therapeutic area, the malignancies segment accounted for the largest revenue share in 2020 owing to the rising application of stem cells in treating various cancers such as acute myeloid leukemia, multiple myeloma, and non-Hodgkin lymphoma
• The autologous therapies segment accounted for the largest revenue share in 2020 and it continues the trend through the forecast period owing to the high survival rate associated with this transplant type and relatively high adoption rate
• The allogenic therapies segment is expected to witness gradual growth through the forecast period owing to the high risk of transplant rejection and high cost associated with allogenic transplants
• North America has emerged as the highest revenue-generating region in 2020 owing to extensive investments made by the federal bodies for expanding cellular therapy research in the region
• In Asia Pacific, the market is expected to witness a lucrative growth rate owing to relatively inexpensive manufacturing and operating units, the presence of a large regional population, and untapped potential

 

List of Key Players of Cell Therapy Market

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 Corporation