Cell therapy involves the use of live cells as pharmaceutical products, either for the treatment of disease or for regenerative purposes. Cell therapy products include stem cell therapy that can treat chronic diseases and wounded tissues. Stem cells have the unique ability to develop into mature cells in the body which can then perform specialized functions. The increasing research and development activities in regenerative medicine provide an opportunity for cell-based therapies to treat chronic diseases.
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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Regenerative medicine offers an exciting opportunity for cell therapies to treat chronic diseases. Currently, there is no cure for degenerative diseases of the heart, liver, and pancreas. Cell therapies derived from stem cells have shown promise in regenerating damaged tissues and organs. Successful cell therapies for heart disease, diabetes, and osteoarthritis through tissue regeneration can address large patient populations and clinical needs. This represents a major market opportunity for cell therapy companies developing regenerative medicine products targeting chronic diseases.
Porter's Analysis:
Threat of new entrants in the Global cell therapy market size is moderate as large investments are required for R&D and clinical trials.
Bargaining power of buyers is moderate due to availability of alternative treatment options.
Bargaining power of suppliers is high as raw material suppliers hold unique expertise.
Threat of new substitutes is high as new advanced treatments are emerging.
Competitive rivalry is intense with presence of many established players.
SWOT Analysis:
Strength: Growing prevalence of cancer and other chronic diseases.
Weakness: Expensive cost of treatment and lack of reimbursement policies.
Opportunity: Increasing investment in R&D of novel therapies.
Threats: Stringent regulations and safety concerns regarding manipulated cells.
Key Takeaways:
The global cell therapy market is expected to witness high growth due to increasing adoption of regenerative medicines. 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 2023-2030.
North America dominates the market currently due to advanced healthcare infrastructure and high adoption of new technologies. Asia Pacific is fastest growing market for cell therapy due to improving healthcare infrastructure and increasing healthcare spending in emerging countries like China and India. Key factors driving the growth are rising investment by market players, favourable regulatory policies and presence of large patient population.
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., Par Pharmaceutical, Inc., Apotex Inc., Sandoz AG, Dr. Reddy's Laboratories Ltd., Accord Healthcare Ltd. Key players: The major players focus on product approvals, collaborations and partnerships to strengthen their presence in the market. For instance, in 2021, Bristol Myers Squibb collaborated with eFFECTOR Therapeutics to develop novel immunotherapies.
Get More Insights On This Topic: https://www.newswirestats.com/cell-therapy-market-forecast-outlook-trend-2023-2030-2/
English
Arabic
Français
Español
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian