Westford, USA, June 17, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Cell Therapy Market will attain a value of USD 71.07 Billion by 2031, with a CAGR of 14.15% over the forecast period (2024-2031). Adoption of cutting-edge and novel technologies is one of the primary drivers for the growth of the global cell therapy market. Moreover, the market for cell treatment is expanding quickly in the wake of the COVID-19 epidemic. The number of approvals for cell treatment may rise due to the over 900 businesses worldwide that are working on innovative medicines and the approximately 1,000 clinical studies that have been completed in cell or gene therapy.
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- Figures – 76
Cell Therapy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $21.6 Billion |
| Estimated Value by 2031 | $71.07 Billion |
| Growth Rate | Poised to grow at a CAGR of 14.15% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Therapy Type, Cell Type, Therapeutic Area, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Expansion of the cell therapy market is aided by the growing frequency of chronic illnesses |
| Key Market Opportunities | Strategic initiatives by market players |
| Key Market Drivers | Rise in funding to unveil growth opportunities for market expansion |
Consumables in Cell Therapy Driving Market Demand and Innovation
Due to their crucial significance in every phase of the manufacture of cell therapy, from initial cell isolation to final product formulation, consumables dominate the global market for cell therapy. There is another element that supports the need for continuous demand on innovative products with increased flow of ideas into the market, leading to higher consumer consumption pattern, through regulations that necessitate identical good grade raw materials.
Cell Immortalization Technology Revolutionizing Cell Treatment and Research
Cell immortalization technology takes the lead in the global market for cell treatment. It helps the cells continue to multiply ensuring a constant and inexhaustible provision of cells for clinical usage as we well as research purposes. This ability lowers production costs and unpredictability while improving treatment scalability and uniformity, resulting in widespread acceptance and industry leadership.
Pioneering Institutions Fuel Advancements in Stem Cell Treatment in North America
The major portion of stem cell treatment research and development is accounted for by the existence of numerous institutions and institutes in North America. The Harvard Stem Cell Institute, Yale Stem Cell Centre, and Stanford University's Institute for Stem Cell Biology and Regenerative Medicine are three of the top eight universities in the world that are located in the United States.
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Cell Therapy Market Insight
Drivers:
- Rise in Funding to Unveil Growth Opportunities for Market Expansion
- Rising Incidence of Chronic and Infectious Diseases
- Growing Need for Potent Treatments
Restraints:
- Lack of Skilled Personnel to Create Market Challenges
- High Cost of Cell-Based Research and Low Success Rate
- Maintaining the Integrity of Cells Throughout the Supply Chain can be Challenging
Prominent Players in Cell Therapy Market
The following are the Top Cell Therapy Companies
- Thermo Fisher Scientific, Inc. (US)
- Merck KGaA (Germany)
- Danaher Corporation (US)
- Becton, Dickinson, and Company (US)
- Lonza Group (Switzerland)
- Sartorius AG (Germany)
- Pluristem (Israel)
- Praxis Pharmaceutical (US)
- Genzyme Corporation (US)
- Advanced Tissue (US)
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Key Questions Answered in Global Cell Therapy Market Report
- What is the estimated value for the global cell therapy market by 2031?
- What is one of the main factors propelling the global cell treatment market expansion?
- Which region, with its abundance of institutions, is leading the way in research and development of stem cell treatments?
This report provides the following insights:
- Analysis of key drivers (Demand for novel & better medicines for illnesses like cancer, CVD has led to a rise in general research efforts, increased financing in cell-based research and healthcare professionals to gain insights into disease mechanisms), restraints (Shortage of skilled personnel to operate complicated devices, wide range of data outputs that require advance analytics and severe shortage of medical laboratories capabilities), opportunities (Precision medicine is an evolving approach to disease treatment, tailoring drug selection to each patient based on their specific condition and cell therapy application expands to various diseases), and challenges (New entrants in the market face a significant challenge in terms of survival and therapies with short shelf lives) influencing the growth of cell therapy market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the cell therapy market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the cell therapy market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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