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What has been the growth curve for the cell therapy market in recent years, and how will it progress in the future?
The cell therapy market has seen significant growth in recent years, with its size set to increase from $12.58 billion in 2023 to an impressive $14.72 billion in 2024 at a compound annual growth rate CAGR of 17.0%. This growth in the historic period can be ascribed to early research and discoveries, regulatory milestones, clinical trials and studies, as well as the efforts of pioneering companies and their early adopters that gained market acceptance and perception.
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What are the factors projected to spur the growth of the cell therapy market in the years to come?
Looking ahead, the cell therapy market is anticipated to experience a rapid growth spurt, with projections predicting a market size of $25.86 billion by 2028 growing at a CAGR of 15.1%. The expansion in the forecast period is expected to be driven by factors such as ethical and societal considerations, investment and funding trends, growing consumer/patient demand, improvements in healthcare infrastructure, and the pace of innovation. The trend forecast paints a picture featuring personalized medicine, emerging targeted treatments, gene editing technologies, expanded stem cell research, immunotherapy advancements, and microenvironment manipulation.
What is the role of the rising prevalence of chronic diseases in driving the growth of the cell therapy market?
Another major driving factor contributing to the expansion of the cell therapy market is the rise in the prevalence of chronic diseases. According to the US Centers for Disease Control and Prevention CDC, a chronic disease lasts for one year or more, requires medical attention, limits daily activities, or both. It includes conditions such as heart disease, cancer, diabetes, and Parkinson’s disease.
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Which are the bellwethers in the cell therapy market that are setting the pace?
The principal companies operating in this rapidly-growing market include the likes of Celgene Corporation, JCR Pharmaceuticals Co. Ltd., Baxter Healthcare Corporation, Nipro Corp., Stempeutics Research Pvt. Ltd., and Osiris Therapeutics Inc., just to name a few. These trailblazers are setting the pace for other players in the cell therapy market landscape.
What is the recent trend of mergers and acquisitions in the cell therapy market?
Industry players are focused on adapting to emergent trends, which in recent times have seen many key market players strategically partnering and collaborating to expand their product portfolio and geographical presence. An instance of this was in October 2021, when Takeda, a Japan-based pharmaceutical company, acquired GammaDelta Therapeutics, a US-based company offering cell therapies, to accelerate the development of allogeneic T cell therapies for solid tumors.
How is the cell therapy market poised in terms of segmentation?
The cell therapy market is segmented in the following manner:
1 By Technique: Stem Cell Therapy, Cell Vaccine, Adoptive Cell Transfer ACT, Fibroblast Cell Therapy, Chondrocyte Cell Therapy.
2 By Therapy Type: Allogeneic Therapies, Autologous Therapies.
3 By Application: Oncology, Cardiovascular Disease CVD, Orthopedic, Wound Healing, Other Applications.
Which region holds the largest market share of the cell therapy market?
North America was the largest region in the cell therapy market in 2023. Apart from North America, the report also covers other regions, such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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