Cell therapy involves the infusion or transplantation of functional cells into a patient to treat disease or injury. It holds immense potential for the treatment of life-threatening chronic diseases like cancer, cardiovascular diseases, diabetes, and neurodegenerative disorders. Cell therapy products like stem cells, engineered cells, and therapeutic tissue can be used to repair damage, replace lost/dying cells, activate the body’s natural healing response, and reverse the progression of diseases. They provide an alternative solution to traditional pharmaceutical medicines by directly addressing the underlying causes behind disease progression rather than just treating symptoms. The use of living cells, genetic engineering, and regenerative approaches to rejuvenate damaged tissues represents a revolutionary new paradigm in medicine.
The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the cell therapy market is the strong pipeline of clinical trials evaluating new cell-based therapeutic candidates. Over 2,000 clinical trials involving cell therapies are currently under investigation globally for a wide range of conditions. Promising results from late stage trials evaluating cell therapies for cancer, cardiovascular disease and diabetes indicate commercialization is imminent. Further advancements in cell processing, manufacturing, and delivery techniques will make these therapies more affordable and accessible to a larger patient population. Increased partnerships between industry players and adoption of modern cell culture technologies should help lower production costs and accelerate the commercial development of novel cell therapies over the coming years.
Threat of new entrants: The threat of new entrants in the Global cell therapy market size is low due to the large investments required for R&D activities and manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of various cell therapy products for treating various conditions.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many manufacturers supplying raw materials for cell therapy production.
Threat of new substitutes: The threat of new substitutes is low as cell therapy has demonstrated high efficacy in treating many life-threatening conditions with limited alternatives.
Competitive rivalry: The competitive rivalry in the cell therapy market is high owing to the presence of many global as well as regional players.
The global cell therapy market is expected to witness high growth. The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030.
The Asia Pacific region is estimated to be the fastest growing region in the cell therapy market due to increasing patient pool, rising healthcare expenditures, and growing awareness. Key international players are focusing on expanding their presence in emerging Asia Pacific countries to leverage high growth opportunities.
Key players operating in the cell therapy market are Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Mylan N.V. Key players like Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC and Mylan N.V. have large product portfolios and geographical presence for cell therapies.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it