Cell Therapy Market Research Report: Size, Share, Growth, Trends and Forecast 2025
According to a new report published by Reports Monitor titled, Global Cell Therapy Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global cell therapy market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Cell therapy products are derived from stem cells, tissues, and organs grown in laboratories, are injected into patients. The growing number of clinical trials, government and private funding, and increasing number of partnerships between companies and government are driving the growth of the global cell therapy market. Products available for cell therapy in the market are based on autologous and allogenic cells. The demand of cell therapy treatment is increasing. This is because cell therapy products can be used for personalized treatment.
The latest trend gaining momentum in the market is proliferation of strategic alliances and royalty payments. Strategic alliances have affected the growth of the market in emerging regions such as APAC. Several vendors prefer M&A (merger and acquisition) to strengthen their global position and improve their commercial capabilities. Through strategic alliances, many companies are receiving upfront and royalty payments, which they use for R&D to develop novel regenerative medicine products. One of the major drivers for this market is Increase in prevalence of chronic diseases. The prevalence of chronic diseases such as diabetes and CVDs is growing. Diabetes causes diabetic retinopathy and diabetic foot ulcer. CVDs such as coronary heart disease (CHD) can cause stroke. The increase in prevalence of chronic diseases increases the cost burden on healthcare systems. Cell therapy products can treat such diseases and reduce the economic burden on healthcare systems. In contrast to which factors hindering the growth of this market is high cost of clinical trials and cell therapy doses. The cost of clinical trials and product launches can increase the cost burden on manufacturers. Most companies that offer cell therapy products are small. Such companies require government or private funding. However, most organizations provide limited funding only if the target goal is achieved.
The global cell therapy market is segmented on the basis of products, which includes, Pluripotent stem cell products, Neural stem cell products, Mesenchymal stem cell products, stem cell substrates, and others. Further the market is segmented on the basis of application, the cell therapy systems market can be segment as: stem cell therapy research, immunotherapy, neural media & reagents for cell therapy, tissue engineering and others.
The global cell therapy market is studied across: North America, Europe, Asia Pacific and LMAEA (Latin America, Middle East and Africa). N.A (North America) is expected to remain the dominating region while Asia Pacific is expected to emerge as a fast growing region. North America invests huge amount in the cell therapy systems research and development. The academic institutes are getting funds from the industry players & government to vitalise intensive cell therapy research.
In emerging economies such as Japan, India government is supporting the development of cell therapies by fostering the approval process. The importance of these regulations is that they allow companies to receive conditional marketing approval and commercialize regenerative medicine products while clinical trials continue through the later stages.
The prominent players in the market are Aastrom Biosciences, Inc., Advanced Cell Technology, Athersys, Cryo Cell International, Cytori Therapeutics, Inc., Geron Corporation, and Invitrogen.
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