Cell therapy involves various therapies using living whole cells as drugs to treat diseases such as cancer, chronic obstructive pulmonary disease, and neurological disorders. These cells include stem cells, dental cells, tumor infiltrating lymphocytes and others which can drastically improve the quality of life of patients suffering from various life-threatening diseases. Cell therapy products such as chimeric antigen receptor T-cell (CAR-T) therapy have shown promising results in treating blood cancer and thus attracted significant investment in R&D of these therapies. The growing number of clinical trials and FDA approvals of CAR-T therapies such as Kymriah and Yescarta have boosted the overall cell therapy market.
The global Cell Therapy Market is estimated to be valued at US$ 844.7 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Stem cell therapy comprises the biggest segment of the cell therapy market owing to high potential applications in treating various degenerative diseases. Mesenchymal stem cells isolated from various sources like umbilical cord, bone marrow, adipose tissue, and dental pulp show superior therapeutic efficacy and thus drive significant market revenue. Additionally, cell therapy products obtained from various sources including allogeneic and autologous cells are extensively investigated to treat chronic diseases creating high demand.
Market key trends:
One of the major trends in the cell therapy market is significant growth in clinical trials investigating cell-based therapies for various cancer indications. As per clinical trial registry data, over 2,700 clinical studies involving various cell therapy approaches including CAR-T, cancer vaccine, dendritic cells, and tumor-infiltrating lymphocytes are being conducted globally to treat cancer. Emergence of innovative methods to improve the safety and efficacy of these cellular drugs is expected to boost their clinical adoption. Additionally, increased focus of biotech firms and venture capital funding on development and commercialization of off-the-shelf or allogeneic cell therapy products will drive the market growth. These off-the-shelf products alleviate issues related to patient-specific manufacturing and reduce the cost of therapy.
Threat of new entrants: The cell therapy market requires significant investment for R&D and clinical trials to gain FDA approvals. This poses high entry barriers for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as cell therapies are highly specialized with few alternative treatment options available.
Bargaining power of suppliers: A few biotech companies dominate the supply of key materials like stem cells, making the bargaining power of suppliers moderate to high.
Threat of new substitutes: Although new medical technologies are emerging, cell therapies have few direct substitutes currently for treating chronic diseases. The threat of substitutes is low.
Competitive rivalry: Being an emerging segment, the cell therapy market sees frequent partnerships and collaborations among key players to advance R&D. Competition is expected to intensify as the market matures over the next few years.
The Global Cell Therapy Market Size is expected to witness high growth over the forecast period driven by increasing research investments. Rising prevalence of cancer and other chronic diseases will further boost demand.
North America currently dominates the global market owing to presence of major companies and availability of advanced healthcare facilities for clinical research. Asia Pacific is expected to emerge as the fastest growing regional market led by countries like China, India and Japan. Rising healthcare expenditures and improving research infrastructure in the region provide opportunities for market participants.
Key players operating in the cell therapy market are Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Danaher Corporation, General Electric Company, Merck KGaA, Terumo Corporation and Thermo Fisher Scientific. These companies focus on developing novel cell-based therapies through organic and inorganic growth strategies to strengthen their product portfolios.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it