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Cell Therapy Market Is Developing Rapidly With 14.5% CAGR By 2028, Based on Increasing Number of Clinical Studies For Cell-Based Therapies | Grand View Research, Inc.

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Cell Therapy Market Is Developing Rapidly With 14.5% CAGR By 2028, Based on Increasing Number of Clinical Studies For Cell-Based Therapies | Grand View Research, Inc.

June 06
06:21 2022
Cell Therapy Market Is Developing Rapidly With 14.5% CAGR By 2028, Based on Increasing Number of Clinical Studies For Cell-Based Therapies | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the gradual emergence of new technologies to support the development of advanced therapies has aided in the global cell therapy industry growth.

Cell Therapy Industry Overview

The global cell therapy market size was valued at USD 7.8 billion in 2020 and is expected to reach USD 23.0 billion by 2028, expanding at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028.

The market is majorly driven by the rising number of clinical studies for cell-based therapies. This has resulted in a substantial global investment in research and their clinical translation. The increasing number of ongoing clinical trials can be attributed to the presence of government and private funding agencies that are constantly offering grants to support projects across various stages of clinical trials.

Gather more insights about the market drivers, restrains and growth of the Global Cell Therapy Market

In addition, the field of regenerative medicine is witnessing series of advancements, further expected to offer effective treatment solutions for chronic ailments. Several companies in the growing markets, such as Canada, are at the forefront, striving to capitalize on the untapped potential of the market for cell therapy. For example, RepliCel is investing in multiple projects in regenerative medicine. For instance, in February 2021, the company announced plans for the commercialization and clinical testing of 3 additional technologies in Japan. These include 2 cell-based therapies – one for skin rejuvenation and the other for tendon regeneration.

 

China cell therapy market size, clinical-use, by therapeutic area, 2018 - 2028 (USD Million)

 

Moreover, the gradual emergence of new technologies to support the development of advanced therapies has aided in market growth. The introduction of proprietary cell lines is considered as the primary means by which a single product can be exploited for the production of a robust portfolio of candidates. For example, Immunicum employs Chimeric Antigen Receptor T cell (CAR-T) expansion, dendritic cell neoantigen presentation technology, and T-cell primers to advance their product line for immuno-oncology.

Furthermore, direct cell reprogramming has received significant attention as a novel therapeutic strategy. This can be attributed to its higher efficacy and safety. A privately held company-Fortuna Fix-is strategizing to become the first company to commence clinical use of neural stem cells of patients, which will be produced by direct reprogramming for replacement of lost neuronal tissue in case of neurodegeneration or neurotrauma. Such ongoing activities are anticipated to bolster revenue generation in the future.

With significant efforts being made to curb the COVID-19 outbreak, the market for cell therapy has been impacted to a certain extent. Progress in ongoing research is a concern, as many universities worldwide have slowed down their enrollment process for clinical trials as well as for all other research activities. The market, however, continues to expand with many companies like Novartis providing access to their therapies. In addition, Athersys, Inc.’s MultiStem is considered a highly relevant potential therapy for COVID-19.

 

Cell Therapy Market Segmentation

Based on the Use-type Insights the market is segmented into Clinical-use, Research-use

  • The research-use segment dominated the market for cell therapy and accounted for the largest revenue share of 60.9% in 2020. The stem cells are majorly being used for research projects, which in turn, has led to a large revenue share for the research-use segment. 
  • The clinical-use segment is expected to grow at a gradual rate of 13.4% through the forecast period owing to the less penetration of this segment. However, few cell therapies are approved for clinical applications such as CARTISTEM, Invossa, MACI, Epicel, Cellgram-AMI, Cupistem, Cellistem IC, GINTUIT, Prochymal, and Imlygic, and which is anticipated to encourage the companies to invest in this segment.

 

Based on the Therapy Type Insights the market is segmented into Allogenic Therapies, Autologous Therapies

  • The autologous therapies segment dominated the cell therapy market and accounted for the largest revenue share of 53.2% in 2020. The segment is expected to maintain its dominance during the forecast period.
  • The allogenic therapies segment is expected to witness comparatively slow growth through 2021 to 2028 owing to the high cost associated with allogenic transplants and relatively lower relapse rates. However, growth in cell banking and companies’ shift towards the development of allogenic therapy products is driving the market for cell therapy.

 

Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa

  • North America is estimated to hold the largest market share of 52.7% in 2020. The large share of the region can be attributed to the presence of a substantial number of centers and institutes that are engaged in R&D pertaining to stem cell therapy. Out of the 8such leading universities throughout the world, 5 are U.S.-based institutes, including Institute for Stem Cell Biology and Regenerative Medicine, Stanford University, Harvard Stem Cell Institute, Harvard University, and Yale Stem Cell Center.
  • In Asia Pacific, the market for cell therapy is anticipated to witness a lucrative growth rate of 15.52% over the forecast period. The rising investment by the developers and consumers in educating themselves for advanced medicinal therapies is anticipated to boost the revenue generated from the developing economies of this region.

 

Market Share Insights

  • February 2021:  RepliCel announced plans for the commercialization and clinical testing of 3 additional technologies in Japan. These include 2 cell-based therapies – one for skin rejuvenation and the other for tendon regeneration.
  • September 2020: FDA granted Investigational New Drug approval to Stemedica Cell Technologies, Inc. for conducting phase II trials for intravenously administered allogeneic MSCs in covid-19 patients.

 

Key Companies Profile:

Some of the prominent players in the cell therapy market include:

  • Kolon TissueGene, Inc.
  • Anterogen Co., Ltd.
  • JCR Pharmaceuticals Co., Ltd. 
  • Castle Creek Biosciences, Inc.
  • The Future of Biotechnology, MEDIPOST
  • Osiris Therapeutics, Inc.
  • PHARMICELL Co., Ltd
  • Tameika Cell Technologies, Inc.
  • Cells for Cells
  • NuVasive, Inc.
  • Vericel Corporation
  • Celgene Corporation

 

Order a free sample PDF of the Cell Therapy Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services. 

Web https://www.grandviewresearch.com/

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Company Name: Grand View Research, Inc.
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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
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Website: https://www.grandviewresearch.com/industry-analysis/cell-therapy-market