According to a new report published by Allied Market Research, titled, "Cell Therapy Processing Market by Offering Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026," the cell therapy processing market size was valued at $1,695 million in 2018, and is projected to reach $12,062 million by 2026, growing at a CAGR of 27.8% from 2019 to 2026.
Cell therapy is the transplantation of human cells to replace or repair damaged tissue or cells. With new technologies, innovative products and limitless imagination, many different types of cells may be used as part of a therapy or treatment for a variety of diseases and conditions. Some of the cells that may be used include mesenchymal stem cells, dendritic cells, hematopoietic stem cells, skeletal muscle stem cells, lymphocytes and pancreatic islet cells.
The major factors that boost the growth of the cell therapy processing market are rise in the demand for chimeric antigen receptor (CAR) T cell therapy, increase in the incidence of cardiovascular diseases, rise in the R&D for the advancement in the research associated with cell therapy, rise in understanding of the role of stem cells in inducing development of functional lung cells from both embryonic stem cells (ESCs) & induced pluripotent stem (iPS) cells, rise in the potential of cell therapies in the treatment of diseases associated with lungs using stem cell therapies, and increase in a number of clinical studies relating to the development of cell therapy processing. In addition, increase in government investments for cell-based research, rise in adoption of regenerative drug, introduction of novel technologies for cell therapy processing, rise in the development of allogeneic cell therapy increase in number of GMP-certified production facilities, rise in the development of allogeneic cell therapy, and large number of oncology-oriented cell-based therapy clinical trials are expected to boost the cell therapy processing market growth during the forecast period. However, high-costs associated with the cell therapies, and bottlenecks experienced by manufacturers during commercialization of cell therapies are expected to hinder the growth of the market.
Based on offering type, the market is categorized into products, services, and software. Presently, products dominates the cell therapy processing market, and is anticipated to continue this trend over the forecast period. The key factors that driving the market growth are rise in the incidence of cardiovascular diseases, increase in demand for cell therapy processing, surge in adoption of allogeneic cell therapy, and introduction of novel technologies for cell therapy processing drives the market growth of this segment.
Based on application, the market is classified into cardiovascular devices, bone repair, neurological disorders, skeletal muscle repair, cancer, and others. At present, the skeletal muscle repair accounted for the majority of cell therapy processing market share owing to rise in incidence of skeletal muscle injury, rise in geriatric population, increase in prevalence of chronic diseases, increase in usage of regenerative medicine, and increase in adoption of minimally invasive surgeries drives the market growth of this segment.
Key Findings of the Study:
- Based on offering type, the products segment held more than 82.32% share in the global market in 2018.
- By application, the skeletal muscle repair segment accounted for the largest market share in 2018, and is expected to remain dominant throughout the forecast period.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 29.0% during the forecast period
North America accounted for approximately one-half of the global cell therapy processing market share in 2018 and is expected to remain dominant throughout the forecast period. This was attributed to increase in the popularity of stem cell research, rise in patient awareness towards stem cell therapies, and well developed healthcare infrastructure. On the other side, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, the developing R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare.