Cell Therapy Market Value to Reach US$ 54.6 Bn by 2032, States TMR Study
- Increase in prevalence of chronic and uncommon disorders is expected to create substantial opportunities in the cell therapy market
- The autologous therapies segment is projected to advance at a CAGR of more than 18% from 2022 to 2032
WILMINGTON, Del., Dec. 19, 2022 /PRNewswire/ -- The global market is projected to expand at a CAGR of 18.7% during the forecast period, as per the global cell therapy market outlook presented in a study by TMR.
Autologous fat grafts were utilized for aesthetic purposes since the past few years. For instance, autologous keratinocytes are used in the treatment of severe and partial burns. Moreover, autologous human fibroblasts are widely utilized in the treatment of rhytids, acne scars, and wrinkles. The autologous therapies segment is expected to gain significant revenue share during the forecast period.
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Key Findings
- Cell and gene therapy-based products are gaining traction due to their ability to work as a dependable treatment solution for diseases that are incurable by traditional medicines. Various cell therapy products are increasingly utilized for patients admitted in hospitals for the treatment of venous leg ulcers, burns, traumas, pressure ulcers, and diabetic foot ulcers. Increase in prevalence of these health disorders is likely to fuel business opportunities in the global market during the forecast period.
- As per statistics presented by the American College of Surgeons, about 1%–2% of the global population is expected to develop chronic wounds during their lives. The Centers for Disease Control and Prevention (CDC) notes that every six out of ten people in the U.S. have developed a chronic health disorder and four out of ten individuals are suffering from two or more chronic diseases. This is driving the need for various cellular treatments, such as immune cell therapy, stem cell therapy, and transfusion.
- American National Red Cross states that about 21 million blood transfusions are carried out in the U.S. in a year. Moreover, the Health Resources and Services Administration (HRSA) notes that around 4275 related and 4992 unconnected umbilical cord blood and bone marrow transplants were carried out in the U.S. in 2018. These statistics suggest that the global cell therapy market is likely to gain significant demand opportunities in the next few years.
- Cell and gene therapy, or CGT, is an advanced technology utilized in the treatment of rare and severe health disorders. LUXTURNA is gaining popularity as a prominent therapy used in the treatment of hereditary retinal illness, which can lead to blindness. Over the past few years, FDA has approved numerous gene therapies for the treatment of disorders such as refractory follicular lymphoma and mantle cell lymphoma. Moreover, there has been increase in investments for R&D focused on the development of more effectual and novel treatments for cardiovascular diseases and cancer. These factors are likely to boost the cell therapy market growth during the forecast period.
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Growth Drivers
- Increase in need for practical and disease-modifying treatment solutions for health disorders that cannot be cured through traditional medicines is propelling market development
- Rise in usage of cell therapy in the treatment of chronic and rare diseases is also driving market growth
Regional Analysis
- North America accounted for major share of the market in 2021. Growth of the North America market can be attributed to easy availability of advanced healthcare facilities, presence of attractive reimbursement policies, rise in awareness regarding rare disorders, and increase in government support for the development of the healthcare industry.
- The U.K. cell therapy market is anticipated to reach a value of US$ 2.2 Bn by the end of 2032. It is expected to advance at a CAGR of 21.4% between 2022 and 2032.
Cell Therapy Market: Competition Landscape
- Majority of market players are executing the strategy of acquisitions in order to maintain their leading positions
- Companies are investing heavily in R&D activities to develop next-generation gene therapy products
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Cell Therapy Market: Key Players
Key players profiled in the report are:
- Pharmicell
- Novartis AG
- GlaxoSmithKline
- Osiris Therapeutics (Smith & Nephew)
- IMFS
- Anterogen
- NuVasive
- Stemedica Cell Technologies
- Kolon TissueGene
- BioNTech
- Cells for Cells
- Vericel Corporation
- JCR Pharmaceuticals
Cell Therapy Market Segmentation
By Use Type
- Clinical Use
- Therapeutic Area
- Cell Type
- Research Use
By Therapy Type
- Allogenic Therapies
- Autologous Therapies
By Region
- North America
- Latin America
- Europe
- APAC
- MEA
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