ID: MRFR/LS/3630-CR | February 2021 | Region: Global | 95 pages
The cell therapy market is estimated to acquire a size of over USD 20,217 Mn during the forecast period. The report further predicts that the market will flourish at a robust CAGR of over 22.36% during the assessment era, says Market Research Future (MRFR).
Cell therapy, also called cryotherapy, refers to a process in which viable cells are grafted, implanted, or injected into a patient to start a medical response in the body. The cell therapy market has registered enormous growth in the last few years. The market's growth is mainly attributed to the technological advancements in vegetable seeds. Furthermore, the factors such as growth in seed production capacity by private firms to remain effective and high demand for organic seeds are also projected to catalyse the market's growth over the forecasted era. On the other hand, the unfavourable climate condition will likely impede the cell therapy market over the coming years. Nevertheless, the increase in export activities across the globe is anticipated to offer lucrative opportunities to market players across the globe.
The rise of COVID 19 pandemic again this year can influence the worldwide cell therapy market size. The market report by MRFR offers a detailed discussion about the influence of SARS-CoV-2 on the market's financial status. Moreover, the rise of new stains disrupting the world economy's functioning is studied, and its impact on market growth is estimated. Proper remedial measures to address the market problems are also mentioned in the report.
The increase in healthcare business due to rise in number of startups is anticipated to promote APAC cell therapy market in the review period. Besides, the increase in demand for modern medications for high number of people suffering from degenerative ailments to support the market rise in the near future.
The Americas can secure about 37.6% market share of the overall market by 2023. The regional market can surge at 21.45% CAGR through the review period. In North America, the presence of numerous healthcare service and solution providers can benefit the market in the review period.
Europe cell therapy market value can exceed USD 6,357.79 Mn by 2023. High annual income across countries and hike in health budget per annum on the treatment of chronic disorders are other causes responsible for the progress of the market.
PureTech Health plc, a London-based biotechnology company that formulates medicines for serious disease management, announced the FDA clearance received by Vor Biopharma, an entity founded by PureTech Health for VOR33. VOR33 is studied for treating acute myeloid leukemia. Vor plans to initiate the phase 1/2a clinical trial for engineered hematopoietic stem cell (eHSC) therapies in combination with targeted cancer therapies. Likewise, several other renowned companies are investing in research studies that can earn competitive edge, thus can benefit the cell therapy market.
key companies 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.
March 2022 – A Korean stem cell therapy company, Miracell, is set to enter the Middle East market following successful penetration in Europe. The company's chief executive stated that the company's afternoons are completely packed with videoconferencing with potential buyers in the Middle East. Founded in 2009, Miracell has been complete with stem cell therapy, cosmetics, medical devices, and cell banking business.
February 2022- Thermo Fisher Scientific has announced the launch of new integrated commercial packaging and distribution services developed to transform therapies from clinic to commercial launch for patients across Europe and the U.S. The latest Patheon Commercial Packaging Services is an end-to-end solution blending global distribution, GMP storage, ultracold & cryogenic packaging, and serialization that developers need to support their logistics strategies.
March 2022 – ORHub, Inc., has announced its plans to acquire PUR Biologics, LLC (PUR) to add the latest biologic implant & regenerative technology unit to supplement its present digital health business division.
The report on the cell therapy market by MRFR provides insights into the market's growth dynamics through the evaluation period. The report elaborates on market evaluation, including drivers and restraints, trends, and opportunities. SWOT assessment for the market is summarized in the report.
|Market Size||USD 20,217.00 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.|
|Key Market Opportunities||Rise in Export Activities to Generate Growth Scopes|
|Key Market Drivers||