High-end technological advancements in the medical field, increase in number of cell therapies in clinical studies, and surge in adoption of regenerative medicines fuel the growth of the market for global cell therapy.
PORTLAND, Ore., Nov. 3, 2020 /PRNewswire/ -- According to the report published by Allied Market Research, the global Cell Therapy Market was estimated at $7.75 billion in 2019 and is expected to hit $48.11 billion by 2027, registering a CAGR of 25.6% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
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High-end technological advancements in the medical field, increase in number of cell therapies in clinical studies, and surge in adoption of regenerative medicines fuel the growth of the market for global cell therapy. On the other hand, high costs of the therapy curtail down the growth to some extent. Nevertheless, high growth potential in emerging markets is expected to pave the way for numerous opportunities for the frontrunners in the industry.
Covid-19 scenario-
- The pandemic has made biopharmaceutical innovators across the world come in the front line in regards to the human response to COVID-19. Accordingly, the global cell therapy market has been impacted positively. An array of biotech ventures have also taken the initiative to pore over the virus's genome and are trying to come with a sustainable vaccine.
- Moreover, cell therapy has found its application in the development of several regenerative medicines which, in turn, has boosted the market.
The global cell therapy market is analyzed across cell type, therapeutic area, therapy type, end user, and region. Based on cell type, the stem cell segment accounted for nearly three-fifths of the total market share in 2019 and is anticipated to lead the trail by 2027. The same segment would also register the fastest CAGR of 26.1% throughout the forecast period.
Based on therapy type, the allogeneic segment contributed to nearly three-fifths of the total market revenue in 2019 and is expected to rule the roost from 2020 to 2027. The autologous segment, on the other hand, would grow at the fastest CAGR of 26.0% during the study period.
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Based on region, North America held the major share in 2019, generating around half of the global cell therapy market. Simultaneously, Asia-Pacific would portray the fastest CAGR of 31.6% from 2020 to 2027. The other regions covered in the report take in Europe and LAMEA.
The key market players analyzed in the global cell therapy market report include Inc., Osiris Therapeutics, Inc., Medipost Co., Ltd., JCR Pharmaceuticals Co. Ltd., NuVasive, Inc., Stemedica Cell Technologies, Inc., Mesoblast Ltd., Cells for cells, Kolon Tissue Gene, and HolostemTerapieAvanzateS.r.l. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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