Cell Therapy Market Projected To Reach USD 20.07 Billion By 2030

 San Francisco, 27 Feb 2024: The Report Cell Therapy Market Size, Share & Trends Analysis Report By Therapy Type (Autologous (Stem Cell Therapies, Non-stem Cell Therapies), Allogeneic), By Therapeutic Area, By Region, And Segment Forecasts, 2024 - 2030

The global cell therapy market size is expected to reach USD 20.07 billion by 2030, expanding at a CAGR of 22.66% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market players are witnessing an increasing interest in the development of advanced therapies that are based on tissue, genes, or cells. Research communities and companies continue to make large investments in the culturing and isolation of a broad range of cell types, such as keratinocytes, chondrocytes, cartilage, stem, dermal papilla, & epithelial cells for the development of novel therapies.

Regulatory authorities such as FDA play a crucial role in the growth of the market by undertaking initiatives related to the development and approval of advanced treatment development as well as restriction of unregulated treatments. In addition, direct cellular reprogramming is attracting interest as a cutting-edge treatment approach because of its advantages such as efficacy and security.

On the other hand, an increase in the number of clinical trials related to advanced therapies is expected to boost the market growth in the coming years. According to data obtained from the American Society of Gene & Cell Therapy, in Q1 2022, 32 non-genetically modified cellular therapeutics trials were initiated, and 69% of these were in the non-oncology arena. Moreover, according to ClinicalTrials.gov, more than 1800 active cellular therapies are under clinical trial.

Furthermore, key companies operating in the market are undertaking several strategic initiatives such as various agreements, new launches, and expansion to strengthen their market presence. For instance, in May 2022, the University of Pennsylvania's personalized cellular therapy was approved for the treatment of individuals with relapsed or resistant follicular lymphoma.

Moreover, in April 2021, Bristol Myers Squibb declared that U.S. FDA approved its Breyanzi (lisocabtagene maraleucel), a novel CAR T treatment for adults with R/R large B-cell lymphoma. In the pivotal trial for 3L+ LBCL, TRANSCEND NHL 001, Breyanzi showed a 73% overall response rate and a 54% complete response (CR) rate.

Access Research Report of Cell Therapy Market @ https://www.grandviewresearch.com/industry-analysis/cell-therapy-market

Cell Therapy Market Report Highlights

• The autologous therapy segment dominated the market with the largest revenue share of 91.22% in 2023, owing to increasing adoption of this therapy type coupled with lower risk of life-threatening complications
• The allogenic therapy segment is expected to grow significantly in the coming years owing to factors such as high pricing and growth in stem cell banking. Moreover, many companies are preparing to shift their business toward allogenic cell therapy product development
• Oncology therapeutic area captured the largest market share in 2023, owing to the increasing adoption of advanced cell therapies in the treatment of various types of cancers
• Cell therapy are also under the investigation for musculoskeletal disorders and has great potential for market growth
• North America dominated the market owing to the strong regulatory framework, presence of bodies like the International Society for Cellular Therapy, and presence of key operating companies

Cell Therapy Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 5.89 billion
Revenue forecast in 2030	USD 20.07 billion
Growth rate	CAGR of 22.66% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2023
Forecast period	2024 - 2030

List of Key Players in Cell Therapy Market

• Novartis AG
• Gilead Sciences, Inc.
• Bristol-Myers Squibb Company
• Johnson & Johnson Services, Inc
• JCR Pharmaceuticals Co., Ltd.
• JW Therapeutics
• Atara Biotherapeutics
• Anterogen Co., Ltd.
• MEDIPOST
• BIOMEDICS

Access Press Release of Cell Therapy Market @ https://www.grandviewresearch.com/press-release/global-cell-therapy-market