Cell therapy involves the use of live whole cells as medicine to treat diseases or conditions by repair or replacement of damaged tissues and cells. It helps repair or replace damaged tissues and cells. Cell therapy products help treat diseases like cancer, neurodegenerative disorders, cardiovascular diseases and others.
The global Cell Therapy Market CAGR of 7.3%is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Regenerative medicine is gaining immense popularity owing to its potential in developing treatments for various chronic and complex diseases. Cell therapy is a key part of regenerative medicine that utilizes living cells to repair or replace damaged tissues and organs. The rising investments in cell-based research by both private and public sectors is propelling the cell therapy market growth. Various organizations are funding cell therapy clinical trials and research activities to develop novel and efficient cell therapy products. For instance, CIRM (California Institute for Regenerative Medicine) has invested over US$ 2 billion in regenerative medicine research since 2015. This growing focus on regenerative medicine is expected to drive the demand for cell therapy over the forecast period.
SWOT Analysis
Strength: global cell therapy market Size has potential to treat chronic and life-threatening diseases. It helps reduce or eliminate the need for lifelong medication and treatment regimes.
Weakness: High costs associated with cell therapy research & development, manufacturing, and clinical trials. Strict regulatory guidelines delay product approvals.
Opportunity: Rising prevalence of cancers, neurological disorders, and cardiovascular diseases creates demand for effective treatment options. Growing geriatric population increases patient pool.
Threats: Safety concerns regarding long term effects of cell therapies. Competing drug therapies limit the scope of certain cell therapies.
Key Takeaways
The global cell therapy market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to grow from US$ 844.7 Mn in 2023 to cross US$ 2 Bn by 2030, registering a CAGR of over 7.3%.
Regional analysis: North America currently dominates the global market and is expected to continue its dominance over the forecast period. Asia Pacific is expected to offer lucrative growth opportunities owing to rising healthcare expenditure, rapidly growing economy and increasing patient population.
Key players operating in the cell therapy market are Epicurean, John Boos, Edward Wohl, San Jamar, SAGE, Neoflam, Catskill Craftsmen, Proteak, Carver Board, Virginia Boys Kitchens, Totally Bamboo, Lipper International, Madeira, Fackelmann, TOPULORS. These players are focused on expanding their product portfolio and global footprint through mergers & acquisitions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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