Market Research Future (MRFR) anticipates the cell therapy market to achieve a strong growth rate of 22.36% from 2020 to 2027. MRFR study reveals that the market size should touch close to USD 20,217.00 Mn by 2027.
Prominent Boosters and Deterrents
Rising burden of cancer worldwide coupled with the exploding patient pool that is failing to respond to a number of alternative treatment lines has bolstered the growth of the cell therapy industry. Cancer is turning out to be a major concern, affecting both adults as well as children, for which reliable and effective therapeutic treatments are required, in order to enhance the patient’s quality of life. Rising focus on developing novel and effective therapies to address the symptoms also contribute immensely to the cell therapy industry growth.
Emergence of new and more innovative forms of cell therapies for several clinical areas such as diffuse large B-cell lymphoma (DLBCL), acute lymphoblastic leukemia (ALL), multiple myeloma (MM), chronic lymphocytic leukemia (CLL), follicular lymphoma (FL), mantle cell lymphoma (MCL), and other types of cancers should present attractive opportunities to the industry participants in the near future. Burgeoning elderly populace paired with the mounting cases of leukemia and lymphoma across the globe should also translate into lucrative opportunities for cell therapy manufacturers in subsequent years.
The types of cell therapies are autologous as well as allogeneic. The lead has been procured by the autologous cell therapy segment in the market.
Key products specified in the report are software, equipment, and consumables (vessel/reagent/media/serum).
The major techniques analyzed are stem cell therapy, cell vaccine, adoptive cell transfer (act), chondrocyte cell therapy and fibroblast cell therapy.
Technology-wise, the segments studied in the report include viral vector technology, genome editing technology and cell immortalization technology.
The cell sources discussed in the report are bone marrow, umbilical cord blood-derived cells and adipose tissue. Surging incidences of bone marrow transplantation along with the surging number of treatment facilities aimed at ischemic heart diseases should foster the market growth in the years to come.
Prominent applications are oncology, cardiovascular disease (CVD), orthopedic and wound healing.
Request Free Sample:https://www.marketresearchfuture.com/sample_request/5066
Cell therapy industry has been geographically distributed into APAC/Asia Pacific, Europe, MEA/Middle East Africa and the Americas.
Booming healthcare business parallel to the mounting number of start-ups has made APAC the most lucrative market for cell therapy in the world. Rampant demand for modern and more effective medications for mounting number of people affected by degenerative ailments should also facilitate market growth in the region. China will cover considerable grounds in the global market owing to the developing healthcare infrastructure coupled with the rising disposable income. The cell therapy market is further bolstered by the rise in government initiatives aimed at improving the health care industry and the rising number of rigorous researches on cell therapy in view of the soaring number of cancer cases.
The Americas is bound to capture a share of 37.6% in the global industry by the year 2027 and will also record a stunning CAGR of 21.45% over the conjectured period. The strong presence of several healthcare services firms in the region has been favorable. The US is touted to be the highest gainer in the region over the following years, thanks to the escalating burden of cancer cases. Players’ focus on the development as well as introduction of effective therapies for cancer treatment also benefits the market. The Centers of Disease Control and Prevention (CDC) released a report in 2016 that said that close to 171,000 people are diagnosed with blood cancer every year in the United States.
Europe cell therapy market should surpass USD 6,357.79 Mn by 2027, in view of the high economic status and supreme healthcare infrastructure in numerous countries such as Germany, France and more. Large-scale budgets allocated for the treatment of several chronic diseases and the high focus on developing more effective cancer therapies also fortify the market position in the region. Another growth booster can be the mounting number of patients failing to respond effectively to alternative therapies, which ultimately elevates the significance of cell therapies that have a higher success rate.
Browse Complete Report:https://www.marketresearchfuture.com/reports/cell-therapy-market-5066
Syngenta AG (Switzerland), Kitazawa Seed Company (US), Maharashtra Hybrid Seeds Company Private Limited (India), Sakata Seed Corporation (Japan), W. Atlee Burpee Co (US), Alabama Farmers Cooperative, Inc (US), Western Bio Vegetable Seeds Ltd (India), UPL Limited (India), Mahindra Agri Solutions Pvt. Ltd (India), Terra Agro Biotech Pvt. Ltd (India) are some of strongest companies in the cell therapy industry.
Many of these firms are concentrating on forming long-term alliances, partnership, and acquisitions to elevate their market rankings. Other strategical moves include investing considerably in research and development activities and focusing on expansion of production capacity.
To illustrate, in April 2021, Bayer is planning to expand its cell capabilities with the addition of a new Cell Therapy Launch Facility, which will be joining Cell Gene Therapy labs and Cell Culture Technology Center (CCTC) expected to be built in the second half of this year. The unit will be set up in the company’s 46-acre campus based in Berkeley, California. All these new production modules will be supporting commercial launches of several products and exhaustive clinical trials, with respect to cell therapies.