Cell Therapy Industry Overview
The global cell therapy market size is expected to reach USD 23.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.5% from 2021 to 2028. The emergence of new technologies to support the development of advanced cellular therapies has aided in market growth. Companies are leveraging new technologies not only for the expansion of their product portfolio but also for establishing out-licensing or co-development agreements with other entities to support their product development programs.
Cell Therapy Market Segmentation
Grand View Research has segmented the global cell therapy market on the basis of use-type, therapy type, and region:
Based on the Use-type Insights, the market is segmented into Clinical-use, Research-use.
- The research-use segment dominated the market for cell therapy and accounted for the largest revenue share of 60.9% in 2020.
- The stem cells are majorly being used for research projects, which in turn, has led to a large revenue share for the research-use segment. The region is expected to continue its dominance from 2021 to 2028.
- Cell-based therapies hold great potential for replacing, repairing, restoring, or regenerating damaged tissues, cells, and organs. Researchers are making huge investments in the development of such effective and safe treatments as an alternative to conventional treatment strategies.
- Mesenchymal Stem Cells (MSCs) have the potential to address several clinical implications, including moderation of the immune system. Thus, the interest of professionals in employing MSC-based therapy in the management of COVID-19 has spiked in 2020.
- The clinical-use segment is expected to grow at a gradual rate of 13.4% through the forecast period owing to the less penetration of this segment. However, few cell therapies are approved for clinical applications such as CARTISTEM, Invossa, MACI, Epicel, Cellgram-AMI, Cupistem, Cellistem IC, GINTUIT, Prochymal, and Imlygic, and which is anticipated to encourage the companies to invest in this segment.
Based on the Therapy Type Insights, the market is segmented into Allogenic Therapies, Autologous Therapies.
- The autologous therapies segment dominated the cell therapy market and accounted for the largest revenue share of 53.2% in 2020. The segment is expected to maintain its dominance during the forecast period.
- This can be attributed to several advantages associated with autologous transplants such as easy availability, no need to identify an HLA-matched donor, lower risk of life-threatening complications, no risk of GVHD, and no necessity of immunosuppressive therapy. In addition, autologous therapies are affordable when compared to allogenic therapies which can be further attributed to segment growth.
- The allogenic therapies segment is expected to witness comparatively slow growth through 2021 to 2028 owing to the high cost associated with allogenic transplants and relatively lower relapse rates.
Cell Therapy Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Companies are receiving U.S. FDA approvals for their stem cell therapy for various diseases and infections. For instance, in September 2020, FDA granted Investigational New Drug approval to Stemedica Cell Technologies, Inc. for conducting phase II trials for intravenously administered allogeneic MSCs in covid-19 patients.
Some prominent players in the global cell therapy market include
- Kolon TissueGene, Inc.
- Anterogen Co., Ltd.
- JCR Pharmaceuticals Co., Ltd.
- Castle Creek Biosciences, Inc.
- The Future of Biotechnology, MEDIPOST
- Osiris Therapeutics, Inc.
- PHARMICELL Co., Ltd
- Tameika Cell Technologies, Inc.
- Cells for Cells
- NuVasive, Inc.
- Vericel Corporation
- Celgene Corporation
Order a free sample PDF of the Cell Therapy Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Email: [email protected]