Cell Therapy Market Synopsis
According to Market Research Future (MRFR), the global cell therapy market is expected to acquire a market value of USD 20,217.00 million while thriving at a CAGR of 22.36% by 2023.
The increasing adoption of regenerative medicines is expected to be a salient factor that can drive the cell therapies market. The rising demand for an efficient cell therapy technology owing to the surging incidences of cancer and cardiac illness can augment the CAR T cell therapies market significantly in the assessment period. The growing funding from the government and private organizations is likely to positively impact the T-Cell immunotherapy market, which can accelerate the need for effective therapy. Furthermore, cord blood processing and advancements in allogeneic therapies are likely to bolster the market in the coming period.
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On the other hand, the implementation of strict rules and regulations regarding cell therapy usage is expected to obstruct the market growth in the coming period. However, the increasing geriatric population can counter hampering cause that can boost the market.
Cell Therapy Market Segmentation
The segmental analysis of the global cell therapy market is done by product, type, cell source, technology, application, end-user, and technique.
The product-based segments of the global cell therapy market are software, consumables (media /vessel reagent /serum/), equipment, & other services.
The type-based segments of the global cell therapy market are autologous and allogeneic.
The cell source-based segments of the global cell therapy market are adipose tissue, bone marrow, and umbilical cord blood-derived cells.
The technology-based segments of the global cell therapy market are cell immortalization technology, viral vector technology, and genome editing technology.
The application-based segments of the global cell therapy market are cardiovascular disease (CVD), oncology, orthopedic, and wound healing.
The end user-based segments of the global cell therapy market are regenerative medicine centers, hospitals & clinics, and research institutes.
The technique-based segments of the global cell therapy market are cell vaccine, fibroblast cell therapy, stem cell therapy, adoptive cell transfer (act), and chondrocyte cell therapy.
Cell Therapy Market Regional Analysis
Based on the region, the global market cell therapy is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the assessment by MRFR, the cell therapy market is anticipated to be dominated by North America. The region is likely to acquire the largest market share during the forecast period. The stem cell innovation is expected to drive the regional market significantly. Countries like the US, Canada, and Mexico are expected to contribute to boosting the regional market.
Europe is anticipated to acquire the market value of USD 6,357.79 million by 2023 due to developing health care infrastructure. The increasing adoption of cell therapy for orthopedic, cancer, and wound healing is expected to augment the regional market notably during the evaluation period.
The APAC region is likely to be a lucrative region owing to the on-going development of healthcare infrastructure during the review period. The advancement of cell-based therapies can actuate the market significantly in the assessment tenure. The involvement of evolving economies, such as; India, China, and Japan, is anticipated to augment the regional market.
The MEA region is projected to grow at the slowest pace due to the lack of awareness and expertise. However, various untapped market opportunities can aid in boosting the regional market.
Cell Therapy Market Key Players
Renowned players of the cell therapy market are Vericel Corporation, AlloSource, RTI Surgical Holdings, Inc., Holostem Terapie Avanzate S.r.l., Osiris Therapeutics, Inc, Mesoblast Ltd, NuVasive, Inc., JCR Pharmaceuticals Co., Ltd, Pharmicell Co., Ltd, and Medipost Co., Ltd.
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