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.
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.
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Key Player Mentioned:
- Kolon TissueGene, Inc.
- Anterogen Co., Ltd.
- JCR Pharmaceuticals Co., Ltd.
- Castle Creek Biosciences, Inc.
- The Future of Biotechnology, MEDIPOST
- Osiris Therapeutics, Inc.
- PHARMICELL Co., Ltd
- Tameika Cell Technologies, Inc.
- Cells for Cells
- NuVasive, Inc.
- Vericel Corporation
- Celgene Corporation
Product Segment Analysis:
- Allogenic Therapies
- Autologous Therapies
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
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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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. For instance, in February 2021, the company announced plans for the commercialization and clinical testing of 3 additional technologies in Japan.
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