According to the latest report by IMARC Group, titled “Cell Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global cell therapy market size reached US$ 11.5 Billion in 2022. Cell therapy (CT) replaces or repairs damaged tissues and cells by using human cells as transplants. This technology is used to develop and apply new techniques to restore function and heal tissues and organs inflicted by aging, disease, and damage. The therapy also improves the immune system of the body to combat cancer cells. Cell therapy can also be used to treat numerous autoimmune and infectious diseases, urinary problems, joint damage, spinal cord injuries, weakened immune systems, and neurological disorders.
Global Cell Therapy Market Trends:
The global market is majorly driven by the rising incidences of numerous chronic diseases, including cancer and cardiovascular disorders. In line with this, the increasing promotions of clinical trials by various governing agencies of several countries are contributing to the growth of the market. Moreover, the extensive research and development (R&D) activities conducted by key players regarding stem cell therapy are providing an impetus to the market. In addition to this, the introduction of advanced cell-based therapies, such as direct cell reprogramming for neuronal tissue replacement, skin rejuvenation and tendon regeneration therapies, is creating a positive market outlook. Furthermore, continual technological advancements in the healthcare infrastructure are acting as another significant growth-inducing factor. Some of the other factors contributing to the market growth include the escalating demand for regenerative drugs and a considerable increase in medical expenditure. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 32.1 Billion by 2028, exhibiting a CAGR of 17.5% during 2023-2028.
- Based on the cell type, the market has been segmented into stem cell (bone marrow, blood, umbilical cord-derived, adipose-derived stem cell and others) and non-stem cell.
- On the basis of the therapy type, the market has been divided into autologous and allogeneic.
- Based on the therapeutic area, the market has been categorized into malignancies, musculoskeletal disorders, autoimmune disorders, dermatology, and others.
- On the basis of the end user, the market has been classified into hospitals and clinics and academic and research institutes.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AlloSource, Anterogen Co. Ltd., Cells for Cells, Holostem Terapie Avanzate S.r.l., JCR Pharmaceuticals, Kolon TissueGene Inc., MEDIPOST, Mesoblast Limited, NuVasive, Stemedica Cell Technologies Inc., Stempeutics Research Pvt. Ltd, and Vericel Corporation.
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