The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell therapy refers to the transplantation of human cells to replace or repair damaged tissue or cells in the body. Cell therapy products help in curing chronic diseases such as cancer, diabetes, cardiovascular disorders and neurological disorders.
Market key trends:
One of the key trends in the cell therapy market is the increasing adoption of artificial intelligence (AI). AI helps in processing large amounts of data related to cells and patients history which further helps researcher in developing personalized therapy. AI analyzes patterns in large data sets to help match patients with therapies, determine best cell-processing methods and track outcomes. This improves the success and reduces the cost of cell therapy development and treatment over time.
Segment Analysis
The global cell therapy market is segmented based on therapy type, therapeutic area, end user and region. By therapy type, the market is segmented into allogeneic and autologous cell therapy. Currently, the allogeneic cell therapy segment dominates the Cell Therapy Market as allogenic cells not need to be harvested from the patient and can be used directly thus reducing the overall treatment cost and time with better availability.
Key Takeaways
The global cell therapy market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of chronic diseases like cancer, diabetes, cardiovascular diseases. The market size for 2023 is US$ 844.7 Mn
Regional analysis
North America dominates the global cell therapy market holding over 40% of the market share. This is attributed to presence of advanced healthcare infrastructure, favorable reimbursement policies and growth of biotechnology and pharmaceutical industries in the region. Asia Pacific exhibits the fastest growth rate over the forecast period due to rising healthcare expenditure, increasing awareness about novel therapies and growth of biotech companies in the region.
Key players
Key players operating in the cell therapy market are Stempeutics Research Pvt. Ltd., Medipost Co. Ltd., Nipro Corporation, Dendreon Pharmaceuticals LLC, Organogenesis Inc., Novartis AG, Vericel Corporation, Allogene Therapeutics Inc., Gilead Sciences Inc. (Kite Pharma Inc.), and Takeda Pharmaceutical Company Limited (TiGenix), among others. These players are focusing on expanding their product portfolios through partnerships and collaborations to strengthen their market position.
Read More : https://www.rapidwebwire.com/expanding-applications-to-propel-growth-of-the-cell-therapy-market/
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