Cell Therapy Market Size Worth $8.8 Billion By 2027

The global cell therapy market size is expected to reach USD 8.8 billion by 2027 at a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Cellular therapies hold a great therapeutic promise across various clinical applications. This has resulted in substantial global investments in research and clinical translation. Moreover, rapid advances in stem cell research hold the potential to fulfill the unmet demand of pharmaceutical entities, biotech entities, and doctors in disease management. These factors have boosted revenue growth for the market.

Currently, there are a limited number of FDA-approved commercial stem and non-stem cell therapies in the market. Furthermore, LAVIV (Azficel-T), manufactured and commercialized by Fibrocell Technologies, witnessed revenue wind-down in the past years. Key developers are making substantial investments in the adoption of advanced technologies to address the aforementioned challenges.

The introduction of proprietary cell lines is recognized as the primary means by which a single cell can be exploited for the production of a robust portfolio of candidates. Companies are leveraging new technologies not only for the expansion of their product portfolio but also for establishing out-licensing or co-development agreements with other entities to support their product development programs.

For instance, MaxCyte has more than 40 high-value cellular therapy partnership programs within immune-oncology, regenerative medicine, and gene editing, including fifteen clinical-stage programs. Increase in the number of collaborations between entities for product commercialization is anticipated to accelerate market revenue to a major extent in the coming years.

In Asia Pacific, the market is anticipated to witness significant growth over the forecast period. This is attributed to rising awareness cellular therapies among patients and healthcare entities in chronic disease management. In addition, availability of therapeutic treatment at lower prices is also driving the regional market. Japan is likely to witness fast growth over the forecast period attributed to increasing research activities on regenerative medicine.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cell-therapy-market

Further key findings from the report suggest:

  • The clinical-use segment accounted for low revenue share due to stringent regulations and non- commercial viability of some products
  • However, the expanding knowledge over the commercial potential of cellular therapies is anticipated to result in the commercialization of a large number of products in the coming years
  • On the contrary, the research-use segment accounted for the largest revenue share in 2019 owing to increase in research activities to explore the potential of the therapy in substantially improving disease management
  • Furthermore, an increase in funding to explore the potential of these therapies has contributed to the large share of the research segment
  • Allogenic therapies dominated the revenue share in 2019 owing to relatively lower relapse rates and growth in stem cell banking activities
  • This is due to the high price and a large number of companies involved in the development of allogenic therapies
  • Moreover, several companies are preparing to shift their business towards allogeneic therapy product development, resulting in significant revenue growth in this segment
  • Autologous therapies are estimated to grow at the fastest pace during the forecast period
  • Lack of donors and low affordability of allogeneic therapies are two key factors contributing to the increase in adoption of autologous therapies
  • Considering the growing share of the cell therapy market in the biopharma industry, the companies are striving to gain a competitive advantage
  • Vericel Corporation, JCR Pharmaceuticals Co. Ltd., MEDIPOST, and Osiris Therapeutics, Inc. are some key players operating in the market
  • These companies are engaged in the expansion of their product portfolio, either through product development or acquisition of other players operating in the space.

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I am working in Market Research Company. So my job in research is to provide answers & guidance to our clients as they relate to marketing and consumer science.

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