Allogeneic Cell Therapy Market Report 2024 - Allogeneic Cell Therapy Market Size And Trends

"The Business Research Company recently released a comprehensive report on the Global Allogeneic Cell Therapy Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The allogenic cell therapy market size has grown rapidly in recent years. It will grow from $0.97 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to an increased focus on tailoring donor cell selection and genetic modifications, increased population, increase in the global burden of chronic diseases, increased awareness, and increase in the number of collaborations for biosimilar development.

The allogenic cell therapy market size is expected to see rapid growth in the next few years. It will grow to $1.67 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to the increasing need for advanced medical treatments, growing demand for novel allogeneic cell therapies, rising number of clinical trials, growing patient population contributions, and rising income levels. Major trends in the forecast period include technology advancements, partnerships, big companies collaborating with others, merger and acquisitions, new product launch.

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Market Drivers and Trends:
The increasing prevalence of chronic diseases is expected to drive the growth of the allogeneic cell therapy market. Chronic disease is a long-lasting condition that typically requires ongoing medical attention and can limit daily activities or quality of life. The prevalence of chronic disease is due to altered habits, inheritance, and exposure to chemicals, toxins, and pollutants in the air. Allogeneic cell therapy holds significant potential for treating a wide range of chronic diseases by utilizing healthy cells from a donor to repair, replace, or modulate the dysfunctional cells or tissues in the recipient. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based medicine library, the number of people aged 50 and above who suffer from one or more chronic illnesses is expected to increase by 99.5% by 2050, from 71.52 million in 2020 to 142.66 million. Therefore, the increased prevalence of chronic diseases drives the growth of the allogeneic cell therapy market.

Major companies operating in the allogeneic cell therapy market are focusing on developing innovative solutions, such as cell processing platforms, to strengthen their position in the market. Cell processing platforms are systems and technologies used to prepare and manipulate cells for therapeutic applications, encompassing isolation, purification, expansion, modification, and quality control to ensure cells are suitable for clinical use. For instance, in March 2024, Getinge, a Sweden-based healthcare company, partnered with CellRev, a UK-based biotechnology company, to launch Livit ACE, a platform for continuous cell processing (Adherent Cell Expansion). This innovative platform integrates advanced automation and bioprocessing technologies, significantly enhancing the efficiency and scalability of cell production. Its unique features include state-of-the-art cell isolation and purification systems that ensure high cell purity and viability, robust expansion capabilities to produce large quantities of therapeutic cells, sophisticated genetic modification tools for precise cell engineering, and rigorous quality control measures to guarantee the safety and efficacy of the cell products.

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Major Key Players of the Market:
Novartis AG, Bristol Myers Squibb Company, Takeda Pharmaceutical Company Limited, Bluebird Bio Inc., Poseida Therapeutics Inc., Fate Therapeutics Inc., Fortress Biotech Inc., Sorrento Therapeutics Inc., Eureka Therapeutics Inc., Juno Therapeutics Inc., Adaptimmune Therapeutics plc, Cellectis SA, TrakCel Ltd., Promab Biotechnologies Inc., Ziopharm Oncology Inc., Allogene Therapeutics Inc., Century Therapeutics Inc., Autolus Therapeutics plc, Bellicum Pharmaceuticals Inc., Minerva Biotechnologies Corporation, Celyad SA, TILT Biotherapeutics Ltd., CRISPR Therapeutics AG

Allogeneic Cell Therapy Market 2024 Key Insights:
• The allogenic cell therapy market size is expected to see rapid growth in the next few years. It will grow to $1.67 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%.
• Allogeneic Cell Therapy Revolutionizing The Treatment Of Chronic Illnesses
• Innovative Cell Processing Platforms Strengthen Market Position Of Allogeneic Cell Therapy Companies
• North America was the largest region in the allogeneic cell therapy market in 2023

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