Newark, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Cell therapy market size from USD 22.43 billion to USD 127.90 billion in 8 years: In the future, the market will experience rapid growth due to the expanding research and development being done to fully realize the medical benefits of cell therapy.
Upcoming Opportunities
The brainy Insights estimates that the USD 22.43 billion in 2022 cell therapy market will reach USD 127.90 billion by 2030. There are around 20 million cancer cases globally, 12 million in men, and 8 million in women. The statistics are reported after an extensive survey performed by World Cancer Research Fund. The statistics pertaining to the year 2020. Cancer is the highest contributor to global deaths globally. The underlying causes of cancer vary from food habits, lack of exercise, tobacco, and alcohol consumption to UV exposure. Given the depletion of the ozone layer and climate change, more and more of the human population is being exposed to skin cancer caused by the sun's UV rays. the lifestyle changes of eating processed foods and no physical exercises are anticipated to cause a rise in cancer cases. Lifestyle changes are leading to an increasing prevalence of autoimmune diseases as well. Stem cell therapy has shown promising results in treating several cancer types and autoimmune diseases. For instance, stem cell therapy aids in the recovery of blood cancer patients after they go through chemotherapy which leads to their prolonged exposure to radiation. The scientific breakthroughs in stem cell therapy are expected to augment the market's growth as global cancer and autoimmune diseases increase.
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Key Insight of the Cell Therapy Market
The Asia Pacific is expected to grow the fastest during the forecast period.
The Asia Pacific market is anticipated to develop the fastest during the projected period. The region's sizable population represents a potential consumer market for major international participants. Major market participants might take advantage of the huge unmet needs of the sizable population due to the region's dearth and insufficient high-quality infrastructure for developing innovative medical solutions. India and China, two of the region's transitional economies, are accelerating market expansion by emphasizing building their healthcare systems to enhance domestic medical research. The Asia Pacific cell therapy market will be driven by the growing pharmaceutical industry and the large pool of human resources.
The allogeneic segment will augment the cell therapy market during the forecast period.
The therapy type segment is divided into autologous and allogeneic. The allogeneic segment dominated the market with a revenue share of around 55% in 2022. It is expected to continue during the forecast period owing to its cost advantage over autologous therapy.
The research segment is expected to augment the cell therapy market during the forecast period.
The user type segment is divided into clinical and research. The research segment dominated the market with a market share of around 56% in 2022. It is expected to continue during the forecast period owing to the increase in fiscal expenditure on research and development to gather insights on the potential applications of cell therapy.
The research institutes segment market size of USD 10.76 billion in 2022
The end-user segment is divided into hospitals, research institutes, pharmaceuticals, biotechnology companies, and others. The research institutes segment dominated the market with a market share of around 48% and revenue of USD 10.76 billion in 2022. The segment is anticipated to dominate the market over the forecast period owing to the increasing funding accorded to them by global governments after witnessing the increasing prevalence of cardiovascular and autoimmune diseases.
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Advancement in market
August 2022 - Merck and Orna Therapeutics, a biotechnology business leading the development of a novel class of investigational engineered circular RNA (oRNA) therapies, has announced a collaboration agreement. The agreement aims to find, create, and market several programs, including vaccines and treatments for infectious diseases and cancer. Merck would give Orna a USD 150 million up-front payment per the contract terms. Orna will continue to advance additional fully owned programs in fields like oncology and genetic illness while retaining rights to its oRNA-LNP technology platform.
Market Dynamics
Driver: The increasing prevalence of cancer and autoimmune diseases
The prevalence of cancer and autoimmune illnesses has increased throughout time due to evolving lifestyle, social, economic, and environmental factors. These illnesses are deadly and account for a sizable fraction of global deaths. The patient's emotional and physical health is impacted by the lack of viable treatments for some types of terminal cancer and chronic autoimmune illnesses. Pharmaceutical and biotechnology companies can now investigate cell therapy as a viable treatment option for various disorders thanks to technological advancements and significant scientific findings.
Restraint: The expensive cell therapy expenditure
The growth of the global cell therapy market will be hindered by the extensive research and development expenditure required to investigate its potential applications.
Opportunities: Increasing research and development expenditure
The public and private players have increased their investment in research and development due to stem cell treatment's encouraging outcomes in treating several previously incurable chronic diseases. Similar research is being done on different cell therapies to determine how they might be used to treat other diseases and ailments. Scientific advancements and discoveries have expanded government financing for research to improve the healthcare industry. The industry will develop faster as partnerships, collaborations, and acquisitions are made to supply cutting-edge treatments and enhance global health indicators.
Challenge: Inadequate infrastructure
The development of the market will be hampered by the lack of academic research infrastructure and logistical support in numerous nations. Many developing and underdeveloped nations lack access to the technology or equipment essential for cell therapy research or its clinical use. The market's expansion will be hampered by inadequate resources, including money, knowledgeable and experienced staff, and the right technology.
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Some of the major players operating in the cell therapy market are:
• Anterogen Co. Ltd.
• Castle Creek Biosciences Inc.
• Celgene Corporation
• Cells for Cells
• JCR Pharmaceuticals Co. Ltd.
• Kolon TissueGene Inc.
• NuVasive Inc.
• Osiris Therapeutics
• Tameika Cell Technologies Inc.
• The Future of Biotechnology
Key Segments cover in the market:
By Therapy Type
• Autologous
• Allogeneic
By Use Type
• Clinical
• Research
By End User
• Hospitals
• Research Institutes
• Pharmaceuticals
• Biotechnology Companies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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