Allied Market Research published a report, titled, “Cell Therapy Market by Cell Type (Stem Cell and Non-Stem Cell), Therapy Type (Autologous and Allogenic), Therapeutic Area (Malignancies, Musculoskeletal Disorders, Autoimmune Disorders, Dermatology, and Others), and End User (Hospitals & Clinics and Academic & Research Institutes): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global cell therapy industry was estimated at $7.75 Billion in 2019, and is expected to hit $48.11 billion by 2027, registering a CAGR of 25.6% from 2020 to 2027.
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Covid-19 scenario-
• Covid-19 has made biopharmaceutical reformers across the world come forward in regards to the human response to the pandemic which, in turn, has impacted the global cell therapy market positively. Also, several biotech organizations have started taking the very initiative to examine the virus’s genome so that they can come up with a sustainable vaccine.
• At the same time, the use of cell therapy has become quite predominant in the development of several regenerative medicines.
• Nonetheless, during the first phase of the lockdown, most clinics across the globe stopped undertaking new cases of stem cell therapy, organ transplants, and other treatments for the next few months which, in turn, hindered the market growth to some extent.
Technological advancements for decentralizing manufacturing of cell therapy is anticipated to significantly benefit the market. Furthermore, MiltenyiBiotec is one of the 25 companies that has contributed to decentralization in manufacturing through its CliniMACS Prodigy device. The device is an all-in-one automated manufacturing system that exhibits capability of manufacturing various cell types.
In 2019, North America was the dominant revenue contributor, owing to huge amount of funding by governments and private firms for clinical trials. However, Asia-Pacific is expected to witness highest CAGR during the forecast period, owing to availability of therapies at lower prices, coupled with growth in awareness among healthcare entities and patients pertaining to potential of these therapies in chronic disease management.
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Major Key Players -
JCR Pharmaceuticals Co. Ltd., NuVasive, Inc., Kolon Tissue Gene, Inc., Osiris Therapeutics, Inc., Stemedica Cell Technologies, Inc., Cells for cells, Holostem Terapie Avanzate S.r.l., Mesoblast Ltd., and Medipost Co., Ltd.
Key Findings Of The Study
- Depending on cell type, the stem cell segment held 56.6% share in the global market in 2019.
- By therapy type, the allogenic segment accounted for the largest cell therapy market share in 2019, and is expected to remain dominant throughout the forecast period.
- On the basis of end user, the academic and research institutes segment held 65.8% share in the global cell therapy market in 2019.
- On the basis of therapeutic area, the malignancies segment held 48.5% share in the global cell therapy market in 2019
- Region wise, Asia-Pacific is expected to exhibit highest CAGR of 31.6% during the forecast period.
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