Market Size of Cell Therapy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 17.05 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cell Therapy Market Analysis
The cell therapy market is expected to witness a CAGR of 17.05% over the forecast period.
The impact of the COVID-19 pandemic on the cell therapy market is expected to be significant as most companies have been focusing on the development of cell-based therapies for COVID-19 treatment. For instance, in April 2020, Calidi Biotherapeutics Inc. revealed that the Investigational New Drug (IND) application submitted by its partner, Personalized Stem Cells Inc. (PSC), received the Food and Drug Administration approval for the treatment of COVID-19 and pneumonia patients using stem cell therapy. The impact of COVID-19 is also expected to have a positive impact on the studied market as most pharmaceutical, biotechnology, and research institutes have been focusing on the development of cell therapy-based treatment against COVID-19. For instance, according to the study published in Stem Cell Research & Therapy volume on 'When stem cells meet COVID-19: recent advances, challenges and future perspectives' published in January 2022, stem cell therapy and stem cell-derived organoid models have got a lot of attention as a new treatment and research method for COVID-19, and stem cells play a role in the battle against COVID-19. This will open up further opportunities for the market players to launch new products, which is expected to drive the market growth during the forecast period.
The cell therapy market is anticipated to witness healthy growth due to the increasing prevalence of chronic conditions, rising adoption of regenerative medicine, and rise in the number of clinical studies about the development of cellular therapies.
Chronic diseases and conditions are on the rise worldwide. As per the International Diabetes Federation Diabetes Altas, in 2021, nearly 573 million adults globally were living with diabetes worldwide, and the number is expected to reach 643 million by 2030 and 783 million by 2045.
Therefore, the increasing prevalence of chronic conditions, government assistance, and numerous companies investing heavily in stem cell therapy research and development are predicted to stimulate industry growth. The proven effectiveness of cell therapy products, coupled with the increasingly favorable guidelines on cell therapy research and manufacturing, is likely to positively impact the market growth over the forecast period. On the other hand, the high cost associated with cell therapies is expected to hinder market growth.
