The Cell Therapy Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cell Therapy Global Market Report 2024, The cell therapy market size has grown rapidly in recent years. It will grow from $12.58 billion in 2023 to $14.72 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to early research and discoveries, regulatory milestones, clinical trials and studies, early adopters and pioneering companies, market acceptance and perception.
The cell therapy market size is expected to see rapid growth in the next few years. It will grow to $25.86 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to ethical and societal considerations, investment and funding trends, consumer/patient demand, healthcare infrastructure, rapid innovation cycles. Major trends in the forecast period include personalized medicine, emerging targeted treatments, gene editing technologies, stem cell research expansion, immunotherapy advancements, microenvironment manipulation.
The rising prevalence of chronic diseases aided the expansion of the cell therapy market. According to the US Centers for Disease Control and Prevention (CDC), chronic disease is a condition that lasts for one year or more, requires medical attention, limits daily activities, or both, and includes heart disease, cancer, diabetes, and Parkinson’s disease. Stem cells can benefit patients suffering from spinal cord injuries, type 1 diabetes, Parkinson’s disease (PD), heart disease, cancer, and osteoarthritis. For instance, according to the Center for Disease Control and Prevention report in 2021, due to poor nutrition and a lack of physical activity, 6 in 10 adults in the USA are suffering from a chronic disease, and 4 in 10 have two or more diseases. In December 2021, according to the International Diabetes Federation, a Belgium based health organization, about 537 million people (20–79 years old) will have diabetes. By 2030, there will be 643 million diabetics worldwide, and by 2045, there will be 783 million. Nearly one-half of all diabetics (240 million) go undiagnosed, and three out of every four diabetic adults live in low- and middle-income countries. According to the Parkinson’s Foundation, in 2021, approximately 60,000 Americans will be diagnosed with PD each year, and 10 million individuals worldwide will suffer from this disease. After Alzheimer's, it is the second most prevalent neurological disease. The growing prevalence of chronic diseases increased the demand for cell therapies and contributed to the growth of the cell therapy market.
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The cell therapy market covered in this report is segmented –
1) By Technique: Stem Cell Therapy, Cell Vaccine, Adoptive Cell Transfer (ACT), Fibroblast Cell Therapy, Chondrocyte Cell Therapy
2) By Therapy Type: Allogeneic Therapies, Autologous Therapies
3) By Application: Oncology, Cardiovascular Disease (CVD), Orthopedic, Wound Healing, Other Applications
Key market players are strategically partnering and collaborating to expand the company's product portfolio and geographical presence. For instance, in October 2021, Takeda, a Japan-based pharmaceutical company, acquired GammaDelta Therapeutics, a US-based company that offers cell therapies, to speed up the development of allogeneic T cell therapies for solid tumours. Furthermore, in June 2021, Charles River Laboratorie, a US-based pharmaceutical company, acquired Vigene Biosciences Inc., a US-based biotech company. With this acquisition, Charles River aims to expand its gene therapy capabilities, establish an end-to-end gene therapy solution in the US, and accelerate its long-term revenue and earnings growth potential.
The cell therapy market report table of contents includes:
1. Executive Summary
2. Cell Therapy Market Characteristics
3. Cell Therapy Market Trends And Strategies
4. Cell Therapy Market - Macro Economic Scenario
5. Global Cell Therapy Market Size and Growth
.....
32. Global Cell Therapy Market Competitive Benchmarking
33. Global Cell Therapy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cell Therapy Market
35. Cell Therapy Market Future Outlook and Potential Analysis
36. Appendix
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These complex systems are taken care of by the cardiovascular therapy device market owing to the increasing number of global population being affected by the above mentioned diseases.
Improvements in treatment capabilities in developing markets owing to technological advancements and innovation is expected to have a positive impact on the demand for cardiovascular thereupatic devices in the medical and healthcare sector.
Technological advent with respect to therapeutic devices includes development of extended product life, smaller devices, and surgical improvements.
Increase in demand is also driven by increased risk factors (diabetes, smoking, obesity, and hypertension) among people Key application of in cardiovascular therapy is the hybrid operation rooms market that emphasizes on minimal invasive surgeries.
Although there has been a decline in the sales of cardiovascular therapy market due to saturation of key drug categories and an increased generic presence, the US witnessed a steady growth in the market since 2009 and is expected to continue the same trend.
Angiotensin receptor blockers (ARBs) is expected to remain the most prescribed therapeutic class within antihypertensives driven by key brands such as Cozaar, Diovan, and Avapro.
