Pune, India, May 21, 2019 (GLOBE NEWSWIRE) -- Global Cell Therapy Market Report presents an overview of the global cell therapy industry landscape, with an emphasis on the vital game-changing companies that are taking this market towards a positive direction. Market Research Future Reports has come up with its latest reports on the global cell therapy market, stating that the market is likely to record a CAGR of 22.36% and would reach USD 20,217.00 million by 2023. As per the research reports, the pharmaceutical industry globally is continually evolving with the growing need for novel therapies in the landscape of diseases.
As a result of this, chronic diseases are on the rise, coupled with an increasing number of cases such as cancer. Due to such serious diseases, the needs of the pharmaceutical industry are shifting from conventional therapies to advanced level therapies such as cell therapies, which are leading in the current time. Thus, with the changing medication landscape, prominent pharma leaders and companies are looking toward the adoption of the advanced medical approach to provide better medicines to patients concerning specific disease case.
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The term ‘cell therapy’ entered in the medical line to prepare somatic cells for the treatment of diseases or traumatic patients in the cell therapy transplants, globally. Cell therapy referred to as the transplantation of human cells to replace or repair damaged tissue or cells. With the introduction of new technologies and innovative products coming in the way of treatment, different types of cells can be used as a therapy or a treatment for a variety of diseases and conditions.
With the help of extensive research & development and efforts are made to show that cell therapies can be used to treat cerebral disorders, such as Parkinson’s and Alzheimer’s and more suitable. Also, such therapy can treat metabolic disorders, such as diabetes mellitus type 1 and more. Thus, these advancements are helping to boost the global cell therapy market processing in progressive ways, according to a report by Market Research Future Reports.
There are many factors to be pleased with many provisions of cell therapy that are driving the global cell therapy market size to expand at an exponential rate. Some of them accounted as, the increase in the development of cell banking facilities and expanding production along with storage and characterization of cells are enhancing volumetric capabilities of cell therapy market at a global level. This, in turn, has directly ignited into an increase in revenue generation for the cell therapy market since past years, which is expected to proliferate in the future at a substantial rate. Some more factors such as increasing number of cases of chronic diseases such as diabetics, neurological disorders, and diabetes are counted as one of the major factors to boost the growth of global cell therapy market during the forecast period. With this, the introduction of innovative techniques and methods being used by key players in the market is also likely to create massive demand for cell therapy, which in turn, is probable to propel the global cell therapy market growth.
Moving forward, other significant factors that are continually driving the cell therapy market towards positive note accounts to be success of hematopoietic stem cell transplantation for a variety of treatments such as blood cancers and hematologic conditions, rise in the demand for chimeric antigen receptor (CAR) T cell therapy, and an increase in the development of stem cell therapy applications. These conditions and cases are probable to offer better opportunities for profitability and hence, supports the global cell therapy market in tremendous ways. Overall, the impact of spurring global market of cell therapy, it is gaining significant consideration from entities intricate in various aspects of disease management. Even the healthcare sector and its practitioners are making substantial use of cell therapy derived from bone marrow or blood in transplant measures for the treatment of patients with cancer, blood disorders, and immune-related disorders.
Market Key Players
Market Research Future Reports has listed some of the prominent players in the global cell therapy market. The names are Mesoblast Ltd, Vericel Corporation, Osiris Therapeutics, Inc, JCR Pharmaceuticals Co., Ltd, NuVasive, Inc., Pharmicell Co., Ltd, RTI Surgical Holdings, Inc., AlloSource, Holostem Terapie Avanzate S.r.l., Medipost Co., Ltd. These key players are operating exponentially in the global cell therapy market and are simultaneously focusing on new product launches, along with expanding their global footprints by entering untapped markets in the future timeline.
Browse the market data and information spread across 95 pages with 96 data tables and 21 figures of the report “Cell Therapy Market - Forecast to 2018- 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/cell-therapy-market-5066
Market Segmentation
Market Research Future Reports offers a comprehensive segmental analysis of the global cell therapy market, which has been segmented into an autologous segment and allogeneic. Of them, the autologous segment is expected to lead the market by registering a substantial CAGR to achieve a valuation of USD 11,554.67 million by the end of 2023. The autologous cell therapy is considered as a branch of regenerative medicine that involves biologic cell-based therapies intended to cure various diseases related to oncology, dermatology, and neurology, and others. Therefore, autologous cell therapy is likely to grasp a significant share of the cell therapy market as compared to allogeneic cell therapy. With this, the increasing demand for effective drugs for degenerative and cardiac disorders is also one factor that is expected to determine the global cell therapy market growth. However, the allogeneic segment is predictable to parade the highest CAGR of 22.85% from 2018 to 2023.
By the mode of product, the global cell therapy industry has been classified as consumables (vessel/media/serum/reagent), equipment, software & other services. Out of which, the increasing rates of infectious diseases are posing as the significant factor to trigger the growth of the consumables segment in the cell therapy market during the forecast period.
By the mode of technique, the global cell therapy market has been classified into stem cell therapy, cell vaccine, adoptive cell transfer (act), fibroblast cell therapy, and chondrocyte cell therapy.
By the mode of technology, the global cell therapy industry is classified as viral vector technology, cell immortalization technology, and genome editing technology.
By the mode of cell source, the global cell therapy market has been categorized as bone marrow, adipose tissue, and umbilical cord blood-derived cells. Thus, with the rising demand for bone marrow transplantation in the treatment of ischemic heart diseases is highly expected to trigger the global cell therapy market growth at an exponential rate.
By the mode of application, the global cell therapy industry includes oncology, cardiovascular disease (CVD), orthopedic, and wound healing. Whereas, the global cell therapy market is also categorized as the end user, hospital & clinics, regenerative medicine centers, and research institutes.
The Developing Global Cell Therapy Market has gained much traction and is expected to become Profitable by the year 2023
On the geographical note, the Americas accounted for grasping the largest market share of around 37.6% in 2017, and which is projected to register a CAGR of 21.45% in the coming years. In fact, North America region is one of the leading markets for accounting the largest market share during the forecast period. Whereas, the European market is assessed to surpass USD 6,357.79 million by 2023. Economically high countries typically spend 2% to 3% of annual health budget on the treatment of chronic diseases as per a bulletin published by WHO. Therefore, factors responsible for global cell therapy market growth in this region are well-established healthcare infrastructure and the surge in adoption of cell therapy treatment for orthopedic, cancer, and wound healing.
Industry Updates
May 20, 2019: Syncona launches another cell therapy company, Treg specialist Quell. Syncona invested £34m ($43m) in start-up financing for Quell Therapeutics, a cell therapy company for focusing on using T regulatory (Treg) cells to treat diseases of the immune system.
Seoul-based Samsung Medical Center (SMC) announced that it had signed a technology transfer agreement with Medinno, a local biotech firm, over investigational cell therapy to treat hypoxic-ischemic encephalopathy (HIE) in infants and severe intraventricular hemorrhage (IVH) in premature babies.
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