Cell Therapy Market

Market Synopsis:

Global Cell Therapy Market is valued at USD 11.21 Billion in 2022 and is projected to attain a value of USD 27.95 Billion by 2030 at a CAGR of 12.10% during the forecast period, 2022–2028. The growing number of clinical trials for cell-based therapeutics is driving the industry. As a result, there has been a significant increase in global investment in research and clinical translation. The presence of government and commercial funding agencies that are continually issuing grants to support projects at various phases of clinical trials can be ascribed to the growing number of ongoing clinical studies. In addition, advances in the field of regenerative medicine are projected to lead to more effective treatment options for chronic illnesses. Several firms in emerging areas, such as Canada, are at the vanguard, attempting to profit on the market for Cell Therapy 's untapped potential.

Most businesses have been working on the development of cell-based therapeutics for COVID-19 treatment, the impact of the COVID-19 pandemic on the Cell Therapy Market is projected to be enormous. Because most pharmaceutical, biotechnology, and research organisations have been concentrating on the development of cell therapy-based treatment against COVID-19, the impact of COVID-19 is likely to have a beneficial impact on the studied market.

Rising Government Investments in Cell-Based Research

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The demand for novel, better medicines for diseases like cancer and cardiovascular disease has led in an increase in general research effort, as well as financing for cell-based research. The Stem Cell Therapies Mission, a 10-year roadmap for stem cell research in Australia, was released by the Australian government in November 2019. Under the Medical Research Future Fund (MRFF), the project would grant USD 102 million (AU$150 million) to encourage stem cell research in order to develop novel medicines. The National Institutes of Health (NIH) has greatly boosted funding for the development of cell treatments in the United States over the years. The good financing situation is boosting demand for Cell Therapy research equipment, media, reagents, and accessories.

Dearth of Skilled Professionals

Despite technological advancements and product development over the last decade, the market has been hampered by a shortage of skilled workers who can operate sophisticated instruments like flow cytometers and multi-mode readers. Flow cytometers and spectrophotometers, which are technologically modern and very complicated, produce a wide range of data outputs that require skill to analyse and review. There remains, nevertheless, a global demand-supply gap for trained people.

Market Segmentation:

Global Cell Therapy Market is segmented on the basis of Use-Type into Clinical Use and Research Use. Based on Type, the Cell Therapy market segmented into Autologous Therapies and Allogenic Therapies. Based on region, the Cell Therapy market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Cell Therapy Market

In 2020, North America dominated the Cell Therapy market over the forecast period. The market is expected to rise due to the existence of a high number of centres and institutes working in stem cell treatment research and development accounts for the region's large share. Five of the eight top colleges in the world are headquartered in the United States, including Stanford University's Institute for Stem Cell Biology and Regenerative Medicine, Harvard University's Harvard Stem Cell Institute, and Yale University's Yale Stem Cell Center.

USD 5.5 Billion

Key Players:

Some of the players in the Cell Therapy Market is 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, among others.

The Cell Therapy Market is segmented as follows:

The Cell Therapy Market is tabulated as follows: