The global cell therapy market Growth Accelerated by Infrastructure Development

 


Cell therapy involves the use of living whole cells or components of blood or tissues to treat various diseases. Cell therapies assist in replacing, engineering or repairing damaged cells. They are widely used across applications such as cardiovascular diseases, autoimmune disorders and genetic disorders. The increasing investment for developing infrastructure for cell therapy production is a key factor driving the global cell therapy market.

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 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends fueling the growth of the global cell therapy market is substantial investments for developing infrastructure to support cell therapy production. Governments as well as private organizations are increasing funding to build state-of-the-art facilities for cell processing and manufacturing. For instance, New York Stem Cell Foundation funded USD 84 million to create a Regenerative Medicine Center to scale-up stem cell manufacturing technologies and provide training in cell therapy production. Similarly, Maryland Stem Cell Research Fund is investing USD 30 million for establishing cell manufacturing and distribution facilities at the University of Maryland. Such increased investments are expected to help streamline cell therapy manufacturing processes, thereby enabling large scale production of cost-effective cell therapies. This in turn will facilitate the adoption of cell therapies as a mainstream treatment option.

Segment Analysis

The global cell therapy market Size is dominated by the allogeneic therapies segment. This segment is dominating as the use of allogeneic therapies does not require the need for complex cell processing protocols or specialized infrastructure as needed in autologous cell therapies, thereby making them more accessible and cost-effective option for treatment of various diseases and conditions. Within the allogeneic therapies segment, the hematopoietic stem cell transplant sub-segment accounts for the highest share owing to rising incidences of blood cancer and increasing rate of HSCT procedures worldwide.

Key Takeaways

The global cell therapy market is expected to witness high growth over the forecast period of 2023 to 2030 registering a CAGR of 7.3% to reach a market size of US$ 1,439.6 Mn by 2030.


Regional analysis

North America dominates the global cell therapy market currently owing to presence of advanced healthcare facilities, extensive research in the field of cell therapies, and rising incidence of chronic diseases. The region is expected to continue its dominance over the forecast period as well. Within North America, the United States holds the highest market share due to focus towards development of novel cell-based therapies and commercialization of CAR T-cell therapies in the country.

Key players
Key players operating in the cell therapy market are Epicurean, John Boos, Edward Wohl, San Jamar, SAGE, Neoflam, Catskill Craftsmen, Proteak, Carver Board, Virginia Boys Kitchens, Totally Bamboo, Lipper International, Madeira, Fackelmann, TOPULORS. They are focusing on launching new and advanced cell therapy products and expanding their geographic presence globally through strategic partnerships and collaborations to strengthen their market position.

Get More Insights On This Topic: https://www.newsstatix.com/cell-therapy-market-size-share-analysis-2023-2030/


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