by Cell therapy involves the use of live whole cells as medications for the treatment of diseases such as cancer, neurological disorders, cardiovascular illness and others. It helps replace or regenerate human cells, tissues or organs to restore or establish normal function. Advancements in areas of stem cell research, gene therapy and tissue engineering have enabled the development of innovative cell-based treatment options.
The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The cell therapy market is propelled by advancements in regenerative medicine. Regenerative medicine is an interdisciplinary field that develops methods to regrow, repair or replace damaged or diseased cells, organs or tissues. Advancements in areas such as stem cell biology, material science, bioengineering and clinical research have enabled development of novel cell-based therapeutic strategies. For instance, mesenchymal stem cells obtained from tissue sources like bone marrow, adipose tissue and placenta have shown regenerative potential and immunomodulatory functions. Ongoing research aims to leverage these properties of stem cells for treating chronic diseases. Further, development of three-dimensional tissue models or organs-on-chips using stem cells aids in disease modeling and screening drug candidates efficiently. Continued research exploring applications of cell therapy in new disease areas, development of advanced cell manufacturing techniques and greater integration of regenerative strategies in clinical praxis will further augment the growth of this market over the forecast period.
SWOT Analysis
Strength: Cell therapy has potential to treat various chronic and life-threatening diseases. It helps regeneration of damaged cells and tissues in the body.
Weakness: High costs associated with cell therapy research and development. Regulatory barriers regarding approval and commercialization of novel cell therapies.
Opportunity: Increasing investment in cell-based research. Rising prevalence of chronic diseases will boost adoption of cell therapy. Growing elderly population susceptible to various diseases indicate market potential.
Threats: Safety issues related to cell therapy. Challenges associated with standardization and scalability of manufacturing processes. Strong pipeline of competing drug therapies.
Key Takeaways
The Global Cell Therapy Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030.
The North America region currently dominates the global cell therapy market due to presence of advanced research infrastructure and funding. Growing collaborations between research institutes and biotech firms in the US and Canada for developing innovative cell therapies will aid regional market growth.
Key players
Key players operating in the cell therapy market are Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Mylan N.V., Par Pharmaceutical, Inc., Apotex Inc., Sandoz AG, Dr. Reddy’s Laboratories Ltd., and Accord Healthcare Ltd. Growing R&D investments by these players for developing novel cell therapies will help expand their market share over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
