Given the wide-reaching effects of COVID-19 (Coronavirus) on Cell Therapy Market, companies are on the lookout for new opportunities to sustain in the coming years. Gain new insights into the market and alternative solutions for keeping production steady in unforeseen circumstances.
Cell Therapy Market Competitive Analysis:
Players with huge market potential to transform the Global Cell Therapy Industry are Vericel Corporation, Osiris Therapeutics, Inc, Mesoblast Ltd, NuVasive, Inc., JCR Pharmaceuticals Co., Ltd, RTI Surgical Holdings, Inc., Pharmicell Co., Ltd, Holostem Terapie Avanzate S.r.l., AlloSource, Medipost Co., Ltd, and others. These companies are making a difference in the market by launching strategic moves that can inspire better market growth. Their initiatives get reflected often in the way they are implementing mergers, acquisitions, and other tactical changes.
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Cell Therapy Market Analysis:
Global cell therapy market size has substantial scope for growth and it can surpass a valuation of USD 20,217 million with an impressive CAGR of 22.36% between 2018 and 2023. The time frame has been discussed by Market Research Future (MRFR) and makes sure the analysis gets a solid ground. The global market for cell therapy is expecting to gain from a growing awareness among the people. Government initiatives and private investors are going to create more awareness and this would expand the market reach. Increasing investment capacity among patients can inspire better market take. In addition, the market is witnessing a strong influx of investment for the research and development sector where researchers are trying to find a cure for chronic diseases. On the other hand, the market for cell therapy may find the regulations in various countries as hurdles, which can lessen the rate of Cell Therapy Market Growth.
Cell Therapy Market Segmentation
Cell Therapy Market Report can be studied by having it segmented by type, product, technique, technology, cell source, application, and end user.
By type, the cell therapy market can be assessed on the basis of autologous and allogeneic. The autologous segment has the lead and it can surpass a valuation of USD 11,554.67 million by the end of 2023. The allogeneic segment has a scope to achieve a CAGR of 22.85% between 2018 to 2023.
By product, the cell therapy market can be segmented into Equipment, Consumables (Vessel/Media/Serum/Reagent), and Software & Other Services.
By technique, the cell therapy market has a firm foundation in a segmentation that includes Stem Cell Therapy, Cell Vaccine, Adoptive Cell Transfer (ACT), Fibroblast Cell Therapy, and Chondrocyte Cell Therapy.
By technology, the cell therapy market analysis includes viral vector technology, cell immortalization technology, and genome editing technology.
By cell source, the cell therapy market encompasses bone marrow, adipose tissue, and umbilical cord blood-derives cells.
By application, the cell therapy market can be studied by oncology, cardiovascular diseases, orthopedic, and wound healing.
By end user, the cell therapy market can be segmented into hospitals & clinics, regenerative medicine centers, and research institutes.
Cell Therapy Market Regional Analysis
Better technological support in the Americas is going to keep the region ahead of others during the forecast period. This is primarily due to the investment made in the US and Canada by top-class companies. Robust infrastructure and awareness regarding the process would ensure that the regional Cell Therapy Market gains better growth opportunities. It has a promise to grow with 21.45% CAGR, which would be bolstered mostly by North America. In Europe, the market scenario is quite favorable. With countries like the UK, France, Germany, Russia, and others, the regional market has a better growth opportunity and it could surpass a valuation of USD 6,357.79 million by 2023. It is increasingly becoming popular to fight against various diseases like cancer and others.
In the Asia Pacific region, this growth would be substantial as several countries like China, India, Japan, and Australia would make significant contributions. This is to develop its healthcare sector.
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Cell Therapy Industry Updates
In December 2019, BiologIC Technologies announced that they are planning to democratize the process of manufacturing therapies like CAR-T that would come with a factory-in-a-box able to run multiple cell therapy workflows. This would also involve 3D printing technology.