Cell therapy involves the use of human cell cultures for treatment of chronic diseases like cancer, cardiovascular diseases, and autoimmune conditions. The stem cells derived from bone marrow, adipose tissue, and umbilical cord blood play a significant role in repair and regeneration of damaged tissues. These therapies offer advantages like reduced hospital stay, fewer side effects as compared to drug therapies and surgical interventions, and improved quality of life for patients.

The global Cell Therapy Market is estimated to be valued at US$ 973.1 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising prevalence of chronic and life-threatening diseases is one of the major factors driving the growth of global cell therapy market. Chronic diseases such as cancer, cardiovascular diseases, diabetes and neurological disorders account for approximately 60% of all deaths globally. According to the World Health Organization (WHO), cardiovascular diseases are the leading causes of death across the world, taking an estimated 17.9 million lives each year. Cancer is the second leading cause of death with an estimated 9.6 million deaths in 2018. Cell therapy offers an effective therapeutic option for chronic conditions and is gaining importance due to limited success of drug-based therapies. In addition, approval and commercialization of novel cell therapy products is further augmenting the market growth. For instance, in 2018, the U.S. FDA approved Kymriah, the first CAR-T cell therapy, for the treatment of relapsed or refractory B-cell acute lymphoblastic leukemia and large B-cell lymphoma.

Segment Analysis
The global cell therapy market is dominated by the autologous segment which accounts for more than 60% share of the overall market. Autologous cell therapy involves harvesting healthy cells from a patient's body which is then processed and transfused back into the same patient's body. This segment dominates as autologous cells face less rejection from the body's immune system when transfused back into the same patient from whom they were harvested.

Key Takeaways
The global Cell Therapy Market Growth is expected to witness high growth. The global Cell Therapy Market is estimated to be valued at US$ 973.1 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031.

The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Increasing investments in cell-based research activities by both public and private players and rising patient awareness about innovative cell-based treatment options are fueling market growth in the Asia Pacific region.

Key players related content comprises
Key players operating in the cell therapy market are Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC and Mylan N.V. Abbott Laboratories dominates the market with its wide product portfolio for cell therapy in segments such as regenerative medicine and immunotherapies. The company launched stem cell therapy products Xerence and Efficil in key markets which helped boost its revenue from cell therapy.

For more insights, read- https://www.insightprobing.com/cell-therapy-market-trends-size-and-share-analysis/

For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/unlocking-security-the-rise-of-the-biometric-card-market