Cell therapy manufacturing involves processing human or animal cells to be used for therapeutic indications. Cell therapies are being widely used for treating chronic diseases like cancer, neurological disorders, cardiovascular ailments etc. The manufactured cell therapies help replace or regenerate human cells, tissues or organs to restore or establish normal function. With the ability to treat numerous therapeutic indications, the demand for cell therapy manufacturing services has increased tremendously.
The global Cell Therapy Manufacturing Market is estimated to be valued at US$ 12.99 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity to treat numerous therapeutic indications is estimated to drive the growth of the cell therapy manufacturing market during the forecast period. With the development of innovative cell therapies, a wide range of diseases can now be treated effectively. Cell therapies offer minimally invasive treatment options and show better clinical outcomes compared to conventional therapies. Additionally, they help avoid lifelong dependency on medicines. Owing to these advantages, the demand for cell therapies from biotech and pharmaceutical companies is increasing exponentially. This rising demand is encouraging market players to invest in cell therapy manufacturing plants across major markets to cater to the growing need. The ability of cell therapies to treat diseases like cancer, cardiac disorders, neurological conditions etc. widely is estimated to propel the cell therapy manufacturing market growth over the coming years.
Porter's Analysis
Threat of new entrants: The cell therapy manufacturing market requires significant investment in R&D, infrastructure and skilled personnel making it difficult for new players to enter.
Bargaining power of buyers: Due to the increasing prevalence of chronic diseases, patients have more bargaining power to demand quality and affordable therapies.
Bargaining power of suppliers: Suppliers of raw materials and reagents hold significant bargaining power given their specialized expertise and limited number of suppliers.
Threat of new substitutes: Advanced therapies such as gene and genome editing offer potential competition by treating underlying causes of diseases instead of symptoms.
Competitive rivalry: Intense competition exists among existing players to gain market share through innovation, partnerships and expanding regional footprint.
SWOT Analysis
Strength: Availability of public and private funding for cell-based research and greater acceptance of novel therapies. Weakness: Lengthy regulatory approvals, high therapy costs and limited donor availability. Opportunity: Growing geriatric population and demand for personalized medicine. Threats: Risks of therapy failure or adverse effects could affect patient acceptance.
Key Takeaways
The Global Cell Therapy Manufacturing Market Growth is expected to witness high.
The North American region dominates the market currently due to presence of major market players and favorable regulations.
Key players operating in the cell therapy manufacturing market are SARAHEALTH SARE, MRK Healthcare Pvt. Ltd., Amkay Products Pvt. Ltd., JIT & JIT, Kanam Latex Industries Pvt. Ltd., RFB Latex Limited, Safeshield Gloves, Amigo Surgicare Pvt. Ltd., Asma Rubber Products Pvt. Ltd., Narang Medical Limited, Phoenix Medical Technologies & Imports, Manglam Medikits Private Limited, and VLHS. Regional analysis related content comprises Asia Pacific region is expected to witness the fastest growth during the forecast period due to increasing healthcare expenditure, rising incidences of chronic disorders, developing R&D infrastructure andstreamlining of regulations.
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