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Cell Therapy Market projected to reach US$ 12,563.23 million by 2027 and to grow at a CAGR of 7.2%

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Cell Therapy Market projected to reach US$ 12,563.23 million by 2027 and to grow at a CAGR of 7.2%

April 10
01:46 2021
Cell Therapy Market projected to reach US$ 12,563.23 million by 2027 and to grow at a CAGR of 7.2%

Cell Therapy Market
The cell therapy market is expected to reach US$ 12,563.23 million by 2027 from US$ 7,260.50 million in 2019. The market is estimated to grow at a CAGR of 7.2% from 2020–2027.

According to our new market research study on “Cell Therapy Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Therapy Type, Product, Technology, Application, and End User,” the market is expected to reach US$ 12,563.23 million by 2027 from US$ 7,260.50 million in 2019. It is estimated to grow at a CAGR of 7.2% from 2020–2027. 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 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.

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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. are among the companies operating in 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.

Chronic diseases, such as cardiovascular disorders, neurological disorders, autoimmune disorders, and cancer, are the leading causes of death and disability worldwide. As per the Centers for Disease Control and Prevention (CDC), in 2019, nearly 6 in 10 people suffered from at least one chronic disease in the US. Cardiovascular diseases (CVDs) are a significant cause of mortality owing to the hectic lifestyle. As per the World Health Organization (WHO), CVDs are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. Cancer is among the leading causes of mortality worldwide, and the disease affects a huge population; therefore, it acts as a huge financial burden on society. According to the WHO, in 2018, ~9.6 million deaths occurred due to cancer globally. However, growing research on developing effective treatments for the disease is positively affecting the market growth. Gene therapy and cell therapy are transforming the cancer treatment landscape; for example, Novartis Kymriah is used to treat diffuse large B-cell lymphoma. The launches of more such products would be driving the demand for cell therapy, thus driving the growth of the cell therapy market in the coming years.

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. The pandemic is causing massive disruptions in supply chains, consumer markets, and economy across the world. As the healthcare sector is focusing on saving lives of COVID-19 patients, the demand for cell therapy is reducing worldwide.

The Report Segments Cell Therapy Market as Follows:

By Therapy Type

  • Allogeneic
  • Autologous

By Product

  • Consumables
  • Equipment
  • Systems and Software

By Technology

  • Viral Vector Technology
  • Genome Editing Technology
  • Somatic Cell Technology
  • Cell Immortalization Technology
  • Cell Plasticity Technology
  • Three-Dimensional Technology

By Application

  • Oncology
  • Cardiovascular
  • Orthopedic
  • Wound Management
  • Other Applications

By End User

  • Research Institutes
  • Hospitals
  • Others

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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Company Name: The Insight Partners
Contact Person: Sameer Joshi
Email: Send Email
Phone: +1-646-491-9876
City: Pune
State: Maharashtra
Country: India

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