The Cell Therapy Manufacturing Market is estimated to be valued at US$ 12.99 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell therapy involves production of therapeutic cells that can be administered to patients to stimulate and rebuild a weakened immune system. Key products in this market includes stem cell therapy, CAR-T therapies, and cancer vaccines. Stem cell therapy is widely used for treating conditions like cardiovascular diseases, diabetes, and neuronal disorders. CAR-T cell therapy has shown immense potential in treating blood cancer such as leukemia and lymphoma.
Market Dynamics:
Rising research funding for cell-based therapies from both public and private organizations is a major factor driving the growth of this market. For instance, National Institutes of Health invested over $1 billion in cell-based research funding in 2021. In addition, increasing incidence of chronic diseases such as cancer, cardiac diseases is also fueling the market growth. According to WHO, cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Furthermore, advancements in cell culturing technologies such as three dimensional cell culturing and microfluidics are enabling mass scale cell manufacturing, thus propelling the market growth over the forecast period. However, high costs associated with cell therapies and stringent regulations for their approval may hamper the market growth.
Segment Analysis
The global cell therapy manufacturing market size is segmented based on technology, type, application, end-use and region. Among the technologies, the ex vivo cell therapy technology segment dominates the market since it offers high efficiency in manufacturing. The type segment is categorized into allogeneic therapies, autologous therapies and others. Allogeneic cells are dominating the market due to their advantages such on demand availability and reproducibility. In terms of application, the musculoskeletal segment holds the largest share due to rising cases of musculoskeletal disorders. The end-use segments are hospitals and clinics, academic and research institutes and others. Hospitals and clinics account for the major share as patients prefer clinical facilities for cell therapy treatments.
PEST Analysis
Political: Stringent regulations in developed regions for cell therapies limit market growth to some extent. Tax incentives in developed countries to promote cell therapies favor market growth.
Economic: Rising healthcare expenditure drives market growth. High cost of cell therapies acts as a restrain.
Social: Increasing prevalence of chronic diseases boosts demand. Social stigma and ethical issues hinder market growth to a limited extent.
Technological: Advancements in immunotherapy and gene editing technologies support market growth. Rising investments favor technological developments.
Key Takeaways
The global cell therapy manufacturing market size is expected to reach US$ 12.99 Bn by 2023, expanding at a high CAGR of 15% during the forecast period. The growth can be attributed to increasing prevalence of chronic diseases and rising investments in cell-based research.
Regional analysis reveals that North America dominates the market and is expected to continue its dominance during the forecast period. This can be linked to strong presence of international players, growing biotechnology industry and favorable regulatory environment in the region.
Key players in the cell therapy manufacturing market are WuXi AppTec, Inc., Lineage Cell Therapeutics, Inc., HEALIOS K.K., Lonza, Merck KGaA., Takara Bio Inc., Sumitomo Dainippon Pharma Co., LTD, Fujifilm Holdings Corporation, Thermo Fisher Scientific, Inc., Astellas Pharma Inc. These players focus on strategic collaborations to enhance their product pipeline and manufacturing capabilities.