Scienza e Tecnologia
Cell Therapy Market to Grow $48.11 Bn, Globally, by 2027 at 25.6% CAGR: Allied Market Research
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Technological advancements in the medical field, rise in number of cell therapies in clinical studies, and increase in adoption of regenerative medicines fuel the growth of the market for global cell therapy. On the other hand, high costs of the therapy impede the growth to some extent. However, high growth potential in emerging markets is expected to pave the way for numerous opportunities for the key players in the sector.
Based on cell type, the stem cell segment contributed to nearly three-fifths of the global cell therapy market share in 2019 and is expected to retain its dominance by 2027. The same segment would also grow at the fastest CAGR of 26.1% throughout the forecast period. Increase in awareness regarding storage of stem cells have a positive effect on the market. Also, the number of stem cell banks is increasing in the developing nations. These factors fuel the growth of the segment.
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Based on therapy type, the allogeneic segment accounted nearly three-fifths of the global cell therapy market revenue in 2019 and is anticipated to lead the trail from 2020 to 2027. Prevalence in cases of cancer relapse propels the segment growth. The autologous segment, on the other hand, would register the fastest CAGR of 26.0% by the end of 2027. Rise in incidences of chronic diseases such as autoimmune diseases, cancer, and blood disorders drives the segment growth.
Based on region, North America generated the highest share in 2019, holding around half of the global cell therapy market. Huge amount of funding by governments and private firms for clinical trials boosts the market growth in the province. Simultaneously, Asia-Pacific would manifest the fastest CAGR of 31.6% from 2020 to 2027. Presence of large untapped opportunities such as expanding healthcare budgets and increase in disposable income of people in the region drive the market growth.
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