by Cell therapy involves modifying or manipulating cells or tissues to treat or prevent diseases. Cell therapy products have clinical application in treatments of various chronic and life-threatening diseases including cancer, neurological disorders, cardiac dysfunction, and autoimmune diseases among others. Cell therapy has a potential to revolutionize treatment of complex diseases through cell regeneration and repair mechanisms. Promising results of ongoing clinical trials have boosted the adoption of cell therapy in clinical practice. The global market continues to witness significant advancements including development of new cell-based products, establishment of large-scale manufacturing facilities, and strategic collaborations between key players.
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 7.3% 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 in the cell therapy market is increasing strategic collaborations between companies. Manufacturers are collaborating with research institutes and other players to expand product portfolios, capabilities, and geographical presence. For instance, in 2021, FUJIFILM Cellular Dynamics, Inc. entered into strategic partnership with leading cell therapy contract development and manufacturing organization, ElevateBio. Through this partnership, both companies aim to accelerate cell and gene therapy product development to enable new therapeutic options for patients. Another notable trend is rising focus on development of advanced cell therapy delivery systems. Companies are investing in development of technologies such as tissue engineering and biomaterials to ensure effective delivery of cell therapy products at target sites and improve clinical outcomes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to the high capital requirement and stringent regulations involved in cell therapy manufacturing.
Bargaining power of buyers: The bargaining power of buyers is moderate as cell therapies are specialized treatments and buyers have limited options.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers providing raw materials, equipment and technologies required for cell therapy manufacturing.
Threat of new substitutes: The threat of new substitutes is low as cell therapies provide unique treatment options not replicable by other therapeutic modalities.
Competitive rivalry: Competition is intense as major players compete to gain market share through product innovations and acquisitions.
Key Takeaways
The global cell therapy market Size 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 7.3% over the forecast period 2023 to 2030.
North America is expected to dominate the global market during the forecast period owing to presence of major players, increasing research activities, and growing clinical trials for cell therapies in the region. Asia Pacific is anticipated to be the fastest growing market owing to growing incidences of chronic diseases, increasing healthcare expenditure, rising geriatric population, and improving healthcare infrastructure. Countries like China, India, Japan, and South Korea are likely to offer significant growth opportunities in the region.
Key players: Key players operating in the cell therapy market are Epicurean, John Boos, Edward Wohl, San Jamar, SAGE, Neoflam, Catskill Craftsmen, Proteak, Carver Board, Virginia Boys Kitchens. These companies are focusing on developing newer technologies and platforms to manufacture various cell therapies and expanding their global presence through mergers and acquisitions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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