The global cell therapy market is estimated to be valued at USD 20,217.00 million by 2023 and is expected to register a CAGR of 22.36% during the forecast period.
The autologous segment is expected to lead the market and register a substantial CAGR to reach USD 11,554.67 million by the end of 2023. Autologous cell therapy is a branch of regenerative medicine. It involves biologic cell-based therapies to cure various diseases related to oncology, dermatology, and neurology, among others. Autologous cell therapy is anticipated to hold a significant share of the market as compared to allogeneic cell therapy
Americas accounted for the largest market share of 37.6% in 2017, and the regional market is projected to register a CAGR of 21.45% during the forecast period. North America is one of the leading markets in the region, accounting for the largest market share during the review period.
Segment Analysis
By type, the global cell therapy market has been classified as autologous and allogeneic. Autologous cell therapy is anticipated to hold a significant share of the market as compared to allogeneic cell therapy.
Based on product, the global cell therapy market has been classified as consumables (vessel/media/serum/reagent), equipment, software & other services. The increasing occurrences of infectious diseases are the major factor which is likely to drive the growth of the consumables segment during the forecast period.
On the basis of technique the global cell therapy market has been classified as stem cell therapy, cell vaccine, adoptive cell transfer (act), fibroblast cell therapy and chondrocyte cell therapy.
By technology the global cell therapy market has been classified as viral vector technology, cell immortalization technology, and genome editing technology.
Based on cell source the global cell therapy market has been classified as bone marrow, adipose tissue, and umbilical cord blood-derived cells. The rising demand for bone marrow transplantation in the treatment of ischemic heart diseases is expected to drive market growth.
On the basis of application the global cell therapy market has been classified as oncology, cardiovascular disease (CVD), orthopedic and wound healing.
The global cell therapy market has also been segregated, based on end user, into hospital & clinics, regenerative medicine centers, and research institutes.
Regional Analysis
Geographically, the global cell therapy market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America holds the largest market for cell therapy in 2017 and is expected to remain dominant during the review period. Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. The rise in the demand for cell therapy for the treatment of oncology is a major driving factor for the growth of the cell therapy market in Europe.
Key Findings of the Study:
- The global cell therapy market is projected to reach over USD 20,217.00 million by 2023 at a 22.36% CAGR during the review period of 2018 to 2023.
- Americas accounted for the largest market share with North America being the major contributor to the growth of the market.
- The autologous segment is projected to register the highest CAGR of 22.00% during the forecast period.
- Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies. Moreover, they are focusing on e-commerce for distribution.
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