Publication Month: Jan 2021 | Report Code: TIPRE00009666 | No. of Pages: 201 | Category: Biotechnology | Status: Published
The growth of the market is attributed to increasing prevalence of chronic diseases, rising adoption of regenerative medicines, and surging number of approvals for cell-based therapies. However, the high cost of cell therapy manufacturing hinders the growth of the cell therapy market
The advancements in biotechnology have led to the adoption of personalized treatments for a wide range of indications. Stem cell therapies are being used to treat chronic diseases, such as cancer, neurological disorders, and genetic disorders. Further, the advantages of cell therapy such as targeted treatment, faster and efficient recovery, and reduced side effects promote the adoption of various products. In North America, cell therapies are widely adopted owing to the availability of FDA-approved products. For instance, in April 2020, the FDA awarded regenerative medicine advanced therapy designation to Novartis' Kymriah to treat refractory (r/r) follicular lymphoma (FL) in adults. In July 2020, the FDA approved a CAR T-cell therapy brexucabtagene autoleucel (Tecartus) for patients with mantle cell lymphoma. It is the first FDA-approved CAR T-cell therapy for mantle cell lymphoma and it was approved under the Accelerated Approval pathway. Tecartus also received Orphan Drug designation, which encourages the development of drugs for rare diseases. The other approved CAR-T cell therapies for cancer are Kymriah for acute lymphoblastic leukemia and Yescarta for diffuse large B-cell lymphoma. Apart from this, with more than 250 clinical trials worldwide studying CAR T-cell therapies, additional cell therapies are on their way with potential indications including pancreatic cancer, autoimmune diseases, Alzheimer’s, and Parkinson’s disease. This is expected to drive the cell therapy market.
The cell therapy market, based on therapy type, is bifurcated into allogeneic and autologous. In 2019, the allogeneic segment accounted for a larger share owing to the availability of substantial number of approved products for clinical use. For instance, in 2018, Alofisel developed by TiGenix (Takeda) is the first allogeneic stem cell-based therapy approved for use in Europe.
The cell therapy market, by product, is segmented into consumables, equipment, and systems and software. The consumables segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on technology, the cell therapy market is segmented into viral vector technology, genome editing technology, somatic cell technology, cell immortalization technology, cell plasticity technology, and three-dimensional technology. The viral vector technology segment held the largest share of the market in 2019. Also, the same segment is anticipated to register the highest CAGR in the market during 2020–2027.
The cell therapy market, by application, is segmented into oncology, cardiovascular, orthopedic, wound management, and other applications. The oncology segment held the largest share of the market in 2019. Also, the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the cell therapy market is segmented into hospitals, research institutes, and others. The research institutes segment held the largest share of the market in 2019, and it is estimated to register the highest CAGR in the market during the forecast period.
|Market Size Value in||US$ 7,260.50 Million in 2019|
|Market Size Value by||US$ 12,563.23 Million by 2027|
|Growth rate||CAGR of 7.2% from 2020-2027|
|No. of Pages||201|
|No. of Tables||118|
|No. of Charts & Figures||78|
|Historical data available||Yes|
|Segments covered||Therapy Type ; Product ; Technology ; Application ; End User , and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
A few players operating in the cell therapy market are Vericel Corporation; MEDIPOST; NuVasive, Inc.; Mesoblast Limited; JCR Pharmaceuticals Co. Ltd.; Smith & Nephew; Bristol-Myers Squibb Company; Cells for Cells; Stemedica Cell Technologies, Inc; and Castle Creek Biosciences, Inc. These players are adopting several organic and inorganic strategies to enhance their revenue and market standings. For instance, in November 2019, MEDIPOST started the extension of its GMP manufacturing facility. The facility is anticipated to increase the sales of CARTISTEM and the development of a new pipeline of products.
The List of Companies - Cell Therapy Market