Cell therapy market size to grow by USD 21.061 billion from 2021 to 2026 | North America will account for 40% of the market growth - Technavio

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- The cell therapy market size is forecasted to increase by USD 21.061 billion from 2021 to 2026, at a CAGR of 56.79%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing prevalence of chronic diseases, limitations in traditional organ transplantations fueling demand for cell therapies, and increasing funding in cell-based research. North America will account for 40% of the market growth during the forecast period. The growth of the regional market is driven by increased funding from governments and the growing number of regenerative medicine centers in the region. In addition, the increasing number of M&As among vendors will drive the growth of the cell therapy market in North America. Charts & data tables about market and segment sizes and forecast period (2022-2026) have been covered in this report. Download the Sample Report

Vendor Analysis

The global cell therapy market is fragmented and highly competitive due to the presence of several tier-1, tier-2, and tier-3 companies. The competition in the market is expected to intensify during the forecast period, with advances in R&D, M&A, and technological innovations. International players are expected to grow by acquiring regional or local players. They are expanding their presence in the market, especially in fast-developing countries in APAC, such as India, China, Japan, Malaysia, and Vietnam. The increased disposable income of people in these countries will make APAC an attractive market to launch new products. In addition, the market is witnessing strong research and development in the field of cell therapy, which is expected to help some new vendors enter the market. Some of the key vendors covered in the report include:

• Astellas Pharma Inc.
• Athersys Inc.
• Avita Medical Inc.
• BioCardia Inc.
• Bone Therapeutics SA
• Brainstorm Cell Therapeutics Inc.
• Bristol-Myers Squibb Co.
• Caladrius Biosciences Inc.
• Capricor Therapeutics Inc.
• Castle Creek Biosciences Inc.
• CellPraxis
• CellSeed Inc.
• Cellular Biomedicine Group Inc.
• Celyad Oncology SA
• Gilead Sciences Inc.
• Lineage Cell Therapeutics Inc.
• Mesoblast Ltd.
• Novartis AG
• Pharmicell Co. Ltd.
• Sanpower Group Co. Ltd.
• ThermoGenesis Holdings Inc.
• Vericel Corp.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Market Segmentation:

The market is segmented by type (autologous and allogenic), application (malignancies, musculoskeletal, cardiovascular, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• By type, the market growth in the autologous segment will be significant over the forecast period. The growth of the segment will be driven by factors such as increasing government funding for R&D, the rising prevalence of chronic diseases, and the increasing focus of vendors on developing effective cell therapy products. The growing focus of vendors on developing novel treatments for emerging applications such as cardiology and ophthalmology will further drive the growth of the segment.

Market Dynamics:

Market Driver:

• Increasing prevalence of chronic diseases
• Limitations in traditional organ transplantations fueling demand for cell therapies
• Increasing funding in cell-based research

The market is driven by the increasing prevalence of chronic diseases. The prevalence of chronic diseases, such as heart diseases, diabetes, stroke, cancer, obesity, and arthritis, is on the rise globally. This can be attributed to the adoption of unhealthy lifestyle habits such as lack of exercise, poor nutrition intake, and substance abuse such as addiction to alcohol and tobacco. Most treatment options available for these conditions only focus on relieving symptoms without dealing with the cause of the condition. Regenerative medicines overcome the challenges of untreatable diseases by using new treatment methods such as processed cells for reconstructing tissues. These methods also reduce healthcare costs by eliminating the need for long-term hospitalization. Such benefits are increasing the adoption of cell therapies for the treatment of chronic diseases, which is driving the growth of the market.

Major Trends:

• Increasing focus on cell therapy products
• Strategic alliances
• Increasing focus on the development of drugs for emerging applications

There is a high unmet need for the treatment of oncology and musculoskeletal disorders. This has encouraged vendors to focus on developing cell therapies for emerging applications. For instance, Amgen is currently developing Blinatumomab, a Phase III candidate, for the treatment of B-cell Non-Hodgkin lymphoma. Also, Bristol-Myers Squibb reported positive results from its Phase II clinical trial of lenalidomide for the treatment of multiple myeloma. The drug is currently in its Phase III development stage. Similarly, many vendors are extensively conducting clinical trials on autologous cell therapy products for the treatment of musculoskeletal disorders. Such developments are expected to fuel the growth of the market during the forecast period.

Key Challenges:

• High cost and failure rate in clinical trials
• Strict regulatory approval for product launch
• Ethical concerns in stem cell research

The estimated cost between the preclinical developmental stage of a cell therapy product to its approval can go up to USD 1.5 billion. Hence, most small vendors or start-ups seek government or private funding. Besides, most of the therapies fail clinical trials due to safety and efficacy issues. In addition, the development of a robust proof-of-concept preclinical model can be expensive, as it involves immunomodulation to match the human immune system. Moreover, the difficulty in finding a sufficient number of patients results in delays and indirectly increases clinical trial costs. All these challenges will hinder the growth of the market during the forecast period.

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What are the key data covered in this cell therapy market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the cell therapy market between 2022 and 2026
• Precise estimation of the size of the cell therapy market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cell therapy market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of cell therapy market vendors

Related Reports:

• The cell and gene therapy market size is expected to increase by USD 9.97 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 20.15%. The market is segmented by type (cell therapy and gene therapy) and geography (North America, Europe, Asia, and Rest of World (ROW)).
• The autologous cell therapy market size is expected to increase by USD 4.11 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 14.16%. The market is segmented by product (autologous stem cell therapy and autologous cellular immunotherapies) and geography (North America, Europe, APAC, MEA, and South America).

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Table of contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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SOURCE Technavio