by 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 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell therapy involves the use of human cells to treat diseases. It utilizes living cells to regulate, repair, replace or engineer tissues. The cells are sourced from patients or healthy donors and then expanded or altered in the laboratory to meet the treatment need. Cell therapy products play a key role in regenerative medicine by repairing or replacing damaged tissues or cells. They are used across many clinical areas such as oncology, cardiovascular disorders, orthopedic diseases and neurological disorders. Cell therapy holds high potential due to its ability help restore lost function and facilitate self-repair and regeneration rather than symptomatic relief.
Market Key Trends:
One of the main trends in the cell therapy market is the expanding applications of these products. Traditionally utilized for cancers, cell therapies are now being explored for a wide range of other diseases. For instance, they are showing promise in muscular dystrophies and genetic metabolic disorders. Mesenchymal stem cells obtained from tissues like bone marrow, adipose tissue, and amniotic fluid are being assessed for treating liver cirrhosis and pulmonary arterial hypertension given their immunomodulatory and regenerative properties. Moreover, induced pluripotent stem cells created by reprogramming adult cells are a major area of focus. Researchers are working towards generating induced pluripotent stem cell-derived cardiomyocytes, hepatocytes, endothelial cells and others for applications like heart disease, diabetes, and neurological disorders. Such diverse areas of research and ongoing clinical trials point towards the increasing scope of cell therapies.
Porter’s Analysis
Threat of new entrants: Low barriers such as capital requirements and economies of scale favors new players to enter the Cell Therapy Market. However, stringent regulations for cell therapy development poses a challenge.
Bargaining power of buyers: The bargaining power of buyers is high due to large presence of global players and availability of treatment alternatives. Buyers can negotiate on price and demand value-added services.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitutes. However, compliance with regulations provides some leverage.
Threat of new substitutes: Threat is moderate due to active research in other treatment methods. However, cell therapy offers targeted solutions with good clinical outcomes.
Competitive rivalry: Intense competition due to presence of global brands and local players. Companies compete on technology innovation, service differentiation and strategic collaborations.
Key Takeaways
The global Cell Therapy Market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of chronic diseases and rapid advancements in cell-based therapies.
The North America region currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to well-established healthcare infrastructure, high healthcare expenditure and presence of leading global market players in the region. The Asia Pacific region is anticipated to witness the highest growth rate owing to rising healthcare spending, availability of low-cost therapies and expansion strategies by market players in emerging countries.
Key players operating in the Cell Therapy Market include Stempeutics Research Pvt. Ltd., Medipost Co. Ltd., Nipro Corporation, Dendreon Pharmaceuticals LLC, Organogenesis Inc., Novartis AG, Vericel Corporation, Allogene Therapeutics Inc., Gilead Sciences Inc. (Kite Pharma Inc.), and Takeda Pharmaceutical Company Limited (TiGenix), among others. Companies are investing heavily in R&D to develop advanced cell therapy products and expand geographical footprint through strategic partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
