Cell Therapy Market Outlook, Dynamics and Product Segments By 2028

Posted on 2022-07-06 by researchinsights in Biotech // 0 Comments

Cell Therapy Industry Overview

The global cell therapy market size was valued at USD 7.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028.

The market is majorly driven by the rising number of clinical studies for cell-based therapies. This has resulted in a substantial global investment in research and their clinical translation. The increasing number of ongoing clinical trials can be attributed to the presence of government and private funding agencies that are constantly offering grants to support projects across various stages of clinical trials.

Gather more insights about the market drivers, restrains and growth of the Global Cell Therapy Market

In addition, the field of regenerative medicine is witnessing series of advancements, further expected to offer effective treatment solutions for chronic ailments. Several companies in the growing markets, such as Canada, are at the forefront, striving to capitalize on the untapped potential of the market for cell therapy. For example, RepliCel is investing in multiple projects in regenerative medicine.

Moreover, the gradual emergence of new technologies to support the development of advanced therapies has aided in market growth. The introduction of proprietary cell lines is considered as the primary means by which a single product can be exploited for the production of a robust portfolio of candidates. For example, Immunicum employs Chimeric Antigen Receptor T cell (CAR-T) expansion, dendritic cell neoantigen presentation technology, and T-cell primers to advance their product line for immuno-oncology.

Furthermore, direct cell reprogramming has received significant attention as a novel therapeutic strategy. This can be attributed to its higher efficacy and safety. A privately held company-Fortuna Fix-is strategizing to become the first company to commence clinical use of neural stem cells of patients, which will be produced by direct reprogramming for replacement of lost neuronal tissue in case of neurodegeneration or neurotrauma. Such ongoing activities are anticipated to bolster revenue generation in the future.

With significant efforts being made to curb the COVID-19 outbreak, the market for cell therapy has been impacted to a certain extent. Progress in ongoing research is a concern, as many universities worldwide have slowed down their enrollment process for clinical trials as well as for all other research activities. The market, however, continues to expand with many companies like Novartis providing access to their therapies. In addition, Athersys, Inc.’s MultiStem is considered a highly relevant potential therapy for COVID-19.

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