ALBANY, New York, May 11, 2020 /PRNewswire/ -- As a result of growing pandemic of COVID-19, the pharmaceutical industry is investing a major amount in research and development of an effective vaccine that can help the doctors to save lives and help controlling the pandemic. As per a recent analysis by Transparency Market Research over pharmaceutical sector, it was found that the global autologous cell therapy market is witnessing a major push. The market is projected to grow exponentially during the tenure of 2019 to 2027 and is expected to witness a substantial 18.1% CAGR during this tenure. Moreover, the global autologous cell therapy market is expected to register a value of US$ 34.7 Bn by the end of 2027, says a recent report by Transparency Market Research.
"COVID-19 has impacted the economy at global level. With the death tolls still on the rise in developed and developing countries, the pandemic nowhere seems to get stop. However, the pharmaceutical sector is constantly investing in research and development. Nevertheless, the industry is majorly investing in autologous cell therapy to find an effective cure for CORONA Virus. Owing to these research and development, the global autologous cell therapy market is projected to grow exponentially during the tenure of 2019 to 2027" – Transparency Market Research.
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Major Finding in Global Autologous Cell Therapy Market Study
- 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States in 2019, says American Cancer Society.
- American Gene Technologies (AGT) submitted Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for AGT103-T in the treatment of HIV patients in 2019.
- The global autologous cell therapy market was valued at US$ 7.5 Bn in 2018.
Explore the latest study on global autologous cell therapy market under the title: Autologous Cell Therapy Market (Source - Bone Marrow and Epidermis; Application - Neurology, Orthopedics, Cancer, Wound Healing, CVD, and Autoimmune; End User - Hospitals, Ambulatory Centers, and Research Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/715
Major Drivers Propelling the Growth of Global Autologous Cell Therapy Market
Growing cases of Neurological Disorders to Propel the Growth
The world is witnessing a massive growth in the number of patients suffering from neurological diseases. The report by Transparency Market Research states that there are more than 50 Mn people suffering from autoimmune disorder which can cause a painful death. In order to develop an effective drug that can help the neurological patients, the pharmaceutical industry is investing massive in autologous cell therapy which as a result is propelling the growth of global autologous cell therapy market during the tenure of 2019 to 2027.
Strong Government Support to Boost the Growth of the Autologous Cell Therapy Market
Governments across the globe are encouraging pharmaceutical industry to develop an effective cure for Parkinson's, nervous breakdowns, and most importantly COVID-19. This has significantly helped the players to develop new drugs. Owing to this support, the global autologous cell therapy market shall witness a substantial growth during the tenure of 2019 to 2027, states the report by Transparency Market Research.
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Major Challenges Mentioned in the Global Autologous Cell Therapy Market
The major challenge that might impede the growth of global autologous cell therapy market is the cost of the therapy. Since the cost of therapy is quite high, the some of the patient might not be able to afford it which might deplete the growth of global autologous cell therapy market during the tenure of 2019 to 2029. However, with ongoing research and development in the pharmaceutical industry, there are high chances that the world might see a cost effective therapy in the global autologous cell therapy market in future.
Global Autologous Cell Therapy: Regional Analysis
North America shall account for the largest share in the global autologous cell therapy market in future. It is noticeable that the regional front of the global autologous cell therapy market was dominated by this particular region in 2018. This dominance is the result of improving healthcare infrastructure, technological development and supportive government efforts. Owing to these factors the global autologous cell therapy market is expected to be dominated by North America during the tenure of 2019 to 2027.
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The global autologous cell therapy market is highly progressive yet highly consolidated. The nature of the market is the result of presence of AA handful of prominent players. However, due to this the new players are unable to enter the global autologous cell therapy market. To overcome this situation, the new players are merging and collaborating with the established players of global disposable face mask market.
The global autologous cell therapy market is segmented in the basis of:
Global Autologous Cell Therapy Market, by Source
- Bone Marrow
Global Autologous Cell Therapy Market, by Application
- Wound Healing (including Skin)
- Cardiovascular Disorders
- Autoimmune Disorders
Global Autologous Cell Therapy Market, by End-user
- Ambulatory Centers
- Research Centers
Global Autologous Cell Therapy Market, Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Autoimmune Disease Diagnostics Market - the global autoimmune diseases diagnostics market is expected to exhibit a CAGR of 3.8%. The global autoimmune disease diagnostics market is likely to reach US$17.06 bn by 2023. The stiff price competition among players is expected to impact the growth of the market in a negative way.
Stem Cells Market - The global market for stem cells is projected to reach a value of US$270.5 bn by the end of 2025. The market is likely to exhibit a strong 13.80% CAGR between 2017 and 2025
Cell Therapy Market - The study reports an insight about the global cell therapy market, along with its current and the past market situation. This enables the customers to comprehend the situation before entering or investing in the market. The report gives driving components fueling the development of the market, restrictions which are probably going to limit the market development, and so forth.
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SOURCE Transparency Market Research