Global Cell Therapy Market Trends And Strategies
The global cell therapy market is expected to decline from $7.31 billion in 2019 to $7.2 billion in 2020 at a compound annual growth rate (CAGR) of -1.54%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $10.0 billion in 2023 at a CAGR of 11.55%. The rising prevalence of chronic diseases contributed to the growth of the cell therapy market. However, the high cost of cell therapy hindered the growth of the market.
Cell therapy (CT) helps repair or replace damaged tissues and cells. A variety of cells are used for the treatment of diseases includes skeletal muscle stem cells, hematopoietic (blood-forming) stem cells (HSC), lymphocytes, mesenchymal stem cells, pancreatic islet cells, and dendritic cells.
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The global cell therapy market is further segmented based on type and geography.
By Technique: Stem Cell Therapy, Cell Vaccine, Adoptive Cell Transfer (ACT), Fibroblast Cell Therapy, Chondrocyte Cell Therapy
By Therapy Type: Allogeneic Therapies, Autologous Therapies
By Application: Oncology, Cardiovascular Disease (CVD), Orthopedic, Wound Healing, Others.
By Geography: The global cell therapy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American cell therapy market accounts for the largest share in the global cell therapy market.
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Trends In The Cell Therapy Market
Key players in the market are strategically partnering and collaborating to expand the product portfolio and geographical presence of their companies.
Cell Therapy Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides cell therapy market overviews, analyzes and forecasts cell therapy market size and growth for the global cell therapy market, cell therapy market share, cell therapy market players, cell therapy market size, cell therapy market segments and geographies, cell therapy market trends, cell therapy market drivers and cell therapy market restraints, cell therapy market’s leading competitors’ revenues, profiles and market shares. The cell therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.