Cell Therapy Manufacturing Market Is Estimated To Witness High Growth Owing To Technological Advancements
Market Overview:
Cell therapy involves manufacturing of live cells to treat different diseases and chronic health conditions. Cells used for therapy include stem cells, chondrocytes, osteocytes, fibroblasts etc. These cells are processed and injected or grafted to regenerate damaged or destroyed tissues. There has been significant growth in adoption of cell therapies for treatment of cancer, neurological disorders and cardiovascular diseases.
Market Dynamics:
Growing prevalence of chronic diseases and rising demand for regenerative medicines are expected to drive growth of the cell therapy manufacturing market over the forecast period. According to the World Health Organization (WHO), chronic diseases accounted for around 60% of total reported deaths in the world in 2018. Adoption of cell therapy offers advantages over traditional drug therapies in effectively treating chronic conditions.
Furthermore, technological advancements in cell processing and cryopreservation techniques are enabling higher yields and viability of cultured cells. This is promoting development of novel allogeneic and autologous cell therapy products for clinical use. However, high costs associated with cell therapy development and manufacturing may limit market growth.
The global Cell Therapy Manufacturing Market Size is estimated to be valued at US$ 12.99 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The cell therapy manufacturing market has strong funding from both public and private sources. There is significant growth in partnerships between biotech companies, pharmaceutical companies and academic institutions. Modernized facilities enable optimized manufacturing process of cell therapies.
Weakness: High costs associated with building manufacturing facilities and training of specialized personnel pose financial challenges. Stringent regulatory compliance increases approval timelines. Limited donor availability and cell viability post-thawing are technical challenges.
Opportunity: Increasing prevalence of chronic diseases and rise in adoption of regenerative medicines present opportunities for growth. Advancements in gene editing, bioprocessing and automation enable high-yield and consistent production at lower costs. Emerging economies offer scope to address unmet needs.
Threats: Biosafety concerns and complex manufacturing processes increase risks of contaminations. Dependency on a few contract manufacturers poses supply security risks. Reimbursement and market access hurdles restrain revenue generation. Intense competition threatens consolidation in the industry.
Key Takeaways
The global cell therapy manufacturing market is expected to witness high growth, exhibiting CAGR of 15.% over the forecast period, due to increasing prevalence of chronic diseases, rise in adoption of personalized medicines and advancements in cell based technologies.
Regional analysis: North America dominated the cell therapy manufacturing market in 2023 and is anticipated to continue its dominance over the forecast period. However, Asia Pacific is expected to witness the fastest growth rate over the forecast period attributed to growing pharmaceutical manufacturing capabilities, increasing investments by key players and improvements in healthcare infrastructure.
Key players: Key players operating in the cell therapy manufacturing include WuXi AppTec, Inc., Lineage Cell Therapeutics, Inc., HEALIOS K.K., Lonza, Merck KGaA., Takara Bio Inc., Sumitomo Dainippon Pharma Co., LTD, Fujifilm Holdings Corporation, Thermo Fisher Scientific, Inc., Astellas Pharma Inc. These companies are focused on expanding manufacturing capabilities and capacities to meet the growing demand.
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