Cell Therapy Market Worth USD 20,217.00 million, CAGR of 22.36% By 2023 | New Innovation, Company updates, Segment Analysis, Demand Overview
May 13, 2019
Cell Therapy Market Research Report and Industry Insights Analysis by Type (Autologous & Allogeneic), Product (Consumables (Vessel/Media/Serum/Reagent), Equipment, & Software & Other Services), Technique End User (Hospitals & Clinics & Others), & Region—Global Size, Share, Growth, Trends, Forecast till 2023
Pune, India - May 13, 2019 /MarketersMedia/ —
Market Research Future (MRFR) announces the publication of its research report global cell therapy market, 2018–2023.
Cell therapies are used to treat diseases which cannot be addressed adequately by existing pharmaceuticals. Various cell therapies are used in the treatment of chronic diseases and hence this has been an active area of research for many years but are now strongly emerging through translation and towards successful commercial development and patient access. Cell therapy has already established success in clinics. Transplantation of therapeutic cells helps improve perfusion, improve heart function, and ultimately improve quality of life for patients afflicted with ischemic heart disease. Despite these successes, many other parameters still need to be improved to maximize the potential of cell therapy. These factors include the ideal cell population, the optimal time for delivery, and the most efficient mode of delivery. The global cell therapy market is mainly driven by factors such as growth in geriatric population, technological advancement, and increase in awareness in developed and developing countries about the benefits of cell therapy treatment.
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North America is expected to dominate the market mainly due to the increasing geriatric population and the availability of advanced healthcare facilities in this region. North America holds the biggest stem cell therapy market and is witnessing the fastest growth in the market. Some of the key factors leading to the growth of the cell therapy market are increasing the number of clinical trials to evaluate the therapeutic potential of products, the rising prevalence of chronic diseases, and growing public awareness related to the therapeutic potency of therapy. However, the Canadian market is projected to register the highest CAGR during the forecast period.
South America accounted for the largest share of the market in the rest of the world in 2017, and the regional market is expected to register a CAGR of 22.36% during the forecast period.
Europe holds a prominent share of the global cell therapy market in 2017. Italy, Spain, and the UK are the major contributors to the growth of the European cell therapy market. Factors responsible for market growth in this region are well-established healthcare infrastructure and the increase in adoption of cell therapy for orthopedic, cancer, and wound healing. The most widely used stem cell treatment is the transplantation of blood stem cells to treat diseases and conditions of the blood and immune system, or to restore the blood system after treatments for specific cancers.
The global cell therapy market has also been segmented by type, product, technique, technology, cell source, application, end user and region.
By type, the global cell therapy market has been classified as autologous and allogeneic. Autologous cell therapy is anticipated to hold a significant share of the market as compared to allogeneic cell therapy.
Based on product, the global cell therapy market has been classified as consumables (vessel/media/serum/reagent), equipment, software & other services. The increasing occurrences of infectious diseases are the major factor which is likely to drive the growth of the consumables segment during the forecast period.
On the basis of technique the global cell therapy market has been classified as stem cell therapy, cell vaccine, adoptive cell transfer (act), fibroblast cell therapy and chondrocyte cell therapy.
By technology the global cell therapy market has been classified as viral vector technology, cell immortalization technology, and genome editing technology.
Based on cell source the global cell therapy market has been classified as bone marrow, adipose tissue, and umbilical cord blood-derived cells. The rising demand for bone marrow transplantation in the treatment of ischemic heart diseases is expected to drive market growth.
On the basis of application the global cell therapy market has been classified as oncology, cardiovascular disease (CVD), orthopedic and wound healing.
The global cell therapy market has also been segregated, based on end user, into hospital & clinics, regenerative medicine centers, and research institutes.
Some of the key players in the global cell therapy market are Mesoblast Ltd, Vericel Corporation, Osiris Therapeutics, Inc, JCR Pharmaceuticals Co., Ltd, NuVasive, Inc., Pharmicell Co., Ltd, RTI Surgical Holdings, Inc., AlloSource, Holostem Terapie Avanzate S.r.l., Medipost Co., Ltd.
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Source: MarketersMedia
Release ID: 511795
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