Cell Therapy Market size is expected to reach $48,115.40 million by 2027, registering a CAGR of 25.6% from 2020 to 2027

According to a new report published by Report Ocean, titled, “Cell Therapy Market by Cell Type, Therapy Type, Therapeutic Area, End User, and Region: Opportunity Analysis and Industry Forecast, 2020–2027,"The global cell therapy market accounted for $7,754.89 million in 2019, and is expected to reach $48,115.40 million by 2027, registering a CAGR of 25.6% from 2020 to 2027.

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Cell therapy is a technology, which relies on replacing diseased or dysfunctional cells with healthy functioning ones. Cells mainly used for such advanced therapies are stem cells, owing to their ability to differentiate into specific cells required for repairing damaged or defective tissues or cells. Moreover, cell therapy finds its application in development of regenerative medicines, which is a multidisciplinary area aimed at maintenance, improvement, or restoration of cells, tissues, or organ functioning, using methods mainly related to cell therapy.

Development of cell banking facilities, coupled with expansion of production, characterization, and storage of cells have improved volumetric capabilities of the cell therapy market. This has further resulted in increase in revenue generation for non-stem and stem cell therapies across the globe. High adoption of regenerative medicine along with the advent of novel technologies and platforms boost the market growth.
Almost every nation is dealing with the outbreak. Most markets are dropping down, owing to the outbreak, including the cell therapy market. The cell therapy market is negatively impacted by the pandemic as most countries adopted lockdown to combat the pandemic. In addition, most of the clinics across the globe have stopped undertaking new cases of stem cell therapy, organ transplant and other treatment for next few months, till the condition seems to be under control.

Chronic diseases and conditions are on the rise across the globe. According to the World Health Organization, chronic disease prevalence have risen by 57% in 2020. Emerging markets would be the hardest hit, as population growth is anticipated to be most significant in developing nations.

Furthermore, increase in demand for healthcare systems, owing to chronic diseases has become a major concern. Therefore, healthcare expenditures greatly increase, with each additional chronic condition having greater specialist physician access, emergency department presentations, and hospital admissions.

Thus, rise in prevalence of chronic conditions, government assistance, and numerous companies investing heavily in stem cell therapy research and development are anticipated to stimulate the industry growth. Proven effectiveness of cell therapy products, coupled with increasingly favorable guidelines pertaining to cell therapy research and manufacturing are also expected to positively impact the global cell therapy market.

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.

By cell type, the stem cell segment is anticipated to dominate the global market during the forecast period, as these are gaining popularity from initiatives taken by various governments. The number of stem cell banks are increasing in developing nations, which further propels the market growth. In addition, rise in awareness regarding storage of stem cells also have a positive effect on the cell therapy market.

By therapy type, the allogenic therapy segment dominated the market in 2019. This therapy is advantageous as it includes production of own immune stem cells, which could kill cancer cells that remain even after high-dose cytotoxic drugs treatment. Patients, who have a high risk of relapse after successful treatment of chemotherapy are recommended allogeneic transplants. Thus, rise in cases of cancer relapse fuels the demand for allogeneic therapy in the global cell therapy market.

By therapeutic area, the malignancies segment is anticipated to dominate the global market during the forecast period. Surge in cancer research, rise in geriatric population worldwide, and increase in adoption of cell therapy for treatment of malignancies are major factors that boost the market growth. By end user, the hospitals & clinics segment are forecasted to grow at the highest CAGR during the forecast period. The lucrative growth in of segment is attributed to increase in number of pipeline projects over the past few years. As per the Cancer Research Institute (CRI), number of cell therapy treatment projects increased from 753 in 2018 to 1,011 in 2019.

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.

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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This release was published on openPR.