Global Cell Therapy Market Can Attain an Impressive 10.6% CAGR during the
Forecast Period (2017-2023): Reports MRFR
Overview:
The Global Cell Therapy Market is gaining ground with path-breaking technological
advancement in biotechnology. Its ability to work at a cellular level by repopulating cells as
carriers of therapeutic cargo to counter various diseases has increased its intake in the
healthcare sector. The global cell therapy market is anticipating a nifty 10.6% CAGR over
the forecast period (2017-2023), claims Market Research Future (MRFR) in an extensive
study.
Despite so many factors, the cell therapy market can get crippled by daunting challenges it
can face in research & development. Its manufacturing cost is considerably higher owing to
which the cell therapy market growth can slow down during the forecast period. On the
other hand, the poor healthcare system in many middle-income countries can dampen the
market prospect.
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Segmentation:
The Cell Therapy Market can be segmented by type, technology, cell source, application,
and end-user.
Type-wise, the cell therapy market is segmented into autologous, and allogeneic.
Technology-wise, the cell therapy market includes somatic cell technology, cell
immortalization technology, viral vector technology, genome editing technology, cell
plasticity technology, and three-dimensional technology. Viral vector technology is sub-
segmented into Ex vivo gene modification of cells and In vivo gene modification of cells.
Based on cell source, the cell therapy market comprises induced pluripotent stem cells
(iPSCs), bone marrow, umbilical cord blood-derived cells, adipose tissue, and neural stem
cell.
Application-based, the cell therapy market consists musculoskeletal, cardiovascular,
gastrointestinal, neurological, oncology, dermatology, wounds and injuries, ocular, and
others.
Based on end-users, the cell therapy market is segmented into hospital & clinics,
regenerative medicine centers, diagnostic centers, research institutes, and others.
Market Insight:
Merger, acquisition, collaboration and other strategic methods often play an important role
in taking the cell therapy market forward. For instance, Pfizer and Cellectis have confirmed
that their collaboration with Allogene Therapeutics, a biotechnology company, is to
continue. Sanofi is taking over Bioverativ, hemophilia expert and Celgene is buying Juno
Therapeutics to improve their cancer portfolio.
Some of key the players in the cell therapy market are, GlaxoSmithKline plc, Cynata, Grupo
Praxis, MEDIPOST, Osiris, PHARMICELL, Pluristem, JCR Pharmaceuticals Co., Ltd,
ANTEROGEN. CO. LTD., CELLECTIS, NuVasive, Inc., BioNTech IMFS, EUFETS GmbH,
Cognate, Novartis AG Genzyme Corporation, Advanced Tissue, and others.
Regional Analysis:
Region-specific analysis of the cell therapy market includes the Americas, Europe, Asia
Pacific (APAC), and the Middle East and Africa (MEA).
The Americas is leading the cell therapy market and is expected to remain so in coming
years. The awareness among people regarding cell therapy is growing. Increasing
healthcare expenditure, along with superior infrastructure, is further promoting the market
by engaging researchers in coming up with favorable results.