by Cell therapy manufacturing involves development of cell culture technology, cell processing, storage and cell distribution. It helps in regenerating human cells, tissues or organs to restore impaired function. Owing to increasing incidences of chronic diseases like cancer, cardiovascular diseases, autoimmune disorders and neurological conditions, demand for cell therapies has surged significantly. Cell therapies aid treatment of various critical diseases, injuries and medical conditions.
The global Cell Therapy Manufacturing Market is estimated to be valued at US$ 12.99 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing need for treatment of chronic diseases is one of the key drivers propelling growth of the cell therapy manufacturing market. Chronic diseases require lifelong treatment and management. According to World Health Organization (WHO), chronic diseases accounted for approximately 60% of total reported deaths in the world in 2001. Conditions like cancer, heart disease, stroke, diabetes and arthritis account for most chronic diseases. Cell therapies offer viable treatment options for various chronic diseases which otherwise have limited treatment alternatives. They aid regeneration of impaired cells and restoration of normal functioning. This helps manage chronic conditions effectively over the long term. Rising global burden of chronic diseases has thus boosted demand for advanced cell therapies significantly over the past few years
SWOT Analysis
Strength: Cell therapy manufacturing involves production of therapeutic cells and its administration to patients to repair, replace or restore damaged tissues and organs. This represents a promising medical innovation with potential to treat various incurable diseases.
Weakness: Cell therapy manufacturing is a complex multi-step process requiring specialized and expensive equipment and facilities. It also requires highly skilled workforce which increases costs. Regulatory compliance and quality standards add to production challenges.
Opportunity: Rising incidence of chronic diseases such as cancer and increasing demand for personalized medicine offers huge market potential. Growing research on stem cell therapy and regenerative medicine is opening new opportunities.
Threats: Stringent regulatory norms on cell therapy products delay market entry. Challenges in targeting, delivery and tracing of cells pose safety concerns. Intense competition from alternative treatment options can affect market growth.
Key Takeaways
The Global Cell Therapy Manufacturing Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 12.99 Mn by 2023, growing at a CAGR of 7.5%.
Regional analysis: North America is currently the dominant region for cell therapy manufacturing market owing to presence of advanced research infrastructure and regulatory approvals. However, Asia Pacific is emerging as the fastest growing regional market led by China, India, Japan and South Korea. Substantial investments in healthcare sector and expansion of biotech industry is driving the growth in Asia Pacific region.
Key players: Key players operating in the cell therapy manufacturing market are SARAHEALTH, MRK Healthcare, Amkay Products, JIT & JIT, Kanam Latex, RFB Latex, Safeshield Gloves, Amigo Surgicare, Asma Rubber Products, Narang Medical, Phoenix Medical Technologies & Imports, Manglam Medikits Private Limited, and VLHS. These players are focusing on expansion of manufacturing facilities, new product launches, and partnerships for technology upgrades to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
