Pune, India, July 18, 2023 (GLOBE NEWSWIRE) -- According to Recently Published Report by The Insight Partners, “Cell Therapy Market Size Report, Share, Trends & Forecast to 2027 - COVID-19 Impact and Global Analysis by Therapy Type (Allogeneic, Autologous); Product (Consumables, Equipment, Systems and Software), Technology (Viral Vector Technology, Genome Editing Technology, Somatic Cell Technology, Cell Immortalization Technology, Cell Plasticity Technology, Three-dimensional Technology), Application (Oncology, Cardiovascular, Orthopedic, Wound Management, Other Applications), End User (Research Institutes, Hospitals, Others)”; the cell therapy market was projected to grow from $7.26 billion in 2019 to reach $12.56 billion by 2027; it is estimated to record a CAGR of 7.2% from 2020-2027.
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Global Cell Therapy Market – Report Scope:
| Report Coverage | Details |
| Market Size Value in | USD 7.26 Billion in 2019 |
| Market Size Value by | USD 12.56 Billion by 2027 |
| Growth rate | CAGR of 7.2% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2019 |
| No. of Pages | 201 |
| No. of Tables | 118 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Therapy Type, Product, Technology, Application, End User |
Global Cell Therapy: Competitive Landscape and Key Developments
Vericel Corporation, MEDIPOST, NuVasive, Inc., Mesoblast Limited, JCR Pharmaceuticals Co. Ltd., Smith & Nephew, Bristol-Myers Squibb Company, Cells for Cells, Stemedica Cell Technologies, Inc, and Castle Creek Biosciences, Inc. among others are a few of the key companies operating in the cell therapy market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name in cell therapy market. A few of the recent developments in the global cell therapy market are mentioned below:
On April 2023, FDA approved cell therapy for patients with blood cancers to reduce the risk of infection following stem cell transplantation. The product is intended for use in adults and pediatric patients 12 years and older with blood cancers planned for umbilical cord blood transplantation following a myeloablative conditioning regimen.
In June 2022, Bristol Myers Squibb announced that the U.S. Food and Drug Administration (FDA) had approved Breyanzi, a CD19-directed chimeric antigen receptor (CAR) T cell therapy, for the treatment of adult patients with large B-cell lymphoma, including diffuse large B-cell lymphoma.
In May 2022, Novartis announced that the US Food and Drug Administration (FDA) granted accelerated approval of Kymriah for the treatment of adult patients with relapsed or refractory (r/r) follicular lymphoma (FL) after two or more lines of systemic therapy. Kymriah is now FDA-approved in three indications and remains the only CAR-T cell therapy approved in adult and pediatric settings.
Browse key market insights spread across 201 pages with 118 list of tables & 78 list of figures from the report, "Cell Therapy Market Forecast to 2027 - Global Analysis by Therapy Type, Product, Technology, Application, End User" in detail along with the table of contents: https://www.theinsightpartners.com/reports/cell-therapy-market
Growing Demand for Cell Therapy During COVID-19 to Drive Global Cell Therapy Market Growth During 2020-2027:
Initial phase of lockdown in various countries has affected the supply of many instruments in these regions. However, the lockdown has affected the supply chain of various companies in these regions. Therefore, many organizations are collaborating with others to overcome this pandemic by using cell therapies for the treatment of COVID 19. For instance, in May 2020, Prince of Abu Dhabi has announced to cover all costs of Stem cell therapy of COVID 19 patients. Moreover, United Arab Emirates-based Abu Dhabi Stem Cells Center (ADSCC) has entered into collaboration agreement with Pluristem Therapeutics Inc. to develop cell therapies and regenerative medicines for the treatment of COVID-19. This cell therapy has been named UAECell19, which has been used to treat approximately 5000 COVID-19 affected people successfully. Such initiatives are expected to boost cell therapy market growth in a long run. Thus, the rising urge to control the COVID-19 pandemic is boosting the demand for cell therapy, thereby providing opportunity for the cell therapy market players.
It is important to note that during this pandemic situation, within Asia Pacific region, Japan has emerged as a popular hub for cell therapy manufacturers. For instance, Japanese companies such as Roche Holding AG unit, Chugai Pharmaceutical Co. Ltd., Shionogi & Co. Ltd., Takeda Pharmaceutical Co. Ltd. and Healios K.K. are actively involving in development of cell therapy for COVID 19 treatment. Tokyo based Takeda pharmaceutical is studying use of plasma cell therapy to treat COVID 19 while Healios K.K. has partnered with Athersys, Inc. to enhance its capabilities by incorporating MultiStem cell therapy products to fight against COVID 19. Furthermore, China is the second largest country in Asia Pacific region to develop cell therapies for COVID 19, for instance, in July 2020, Shanghai Fosun Pharmaceutical has been undertaking clinical trials for development of COVID-19 vaccine. Fosun Pharma has established international R&D centers for excellence in areas such as innovative therapies such as biologics and cell therapies.
Also, companies are seeking more product launches in the Asian market. For instance, Curate Biosciences launched its first product to transform manufacturing costs and performance of cell therapy in January 2023. The first-of-its-kind Curate System produces better starting materials for CAR-T cancer therapies and other cell therapies. Thus, product launches in the cell therapy market are expected to serve the growth during the forecast period.
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Global Stem Cell Therapy Market Size - The stem cell therapy market is expected to grow from US$ 2,278.49 million in 2022 to US$ 6,206.89 million by 2028; it is estimated to grow at a CAGR of 18.2% from 2022 to 2028.
Global Cell Therapy Bioprocessing Market Size - The cell therapy bioprocessing market is expected to reach US$ 30,052.61 million in 2028 from US$ 11,192.50 million in 2020. The market is estimated to grow with a CAGR of 13.5% from 2021-2028.
Global GMP Cell Therapy Consumables Market Size - The GMP cell therapy consumables market is expected to grow from US$ 11,031.25 million in 2021 to US$ 59,985.89 million by 2028; it is estimated to grow at a CAGR of 27.5% from 2022 to 2028.
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