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According to this report the global cell therapy market is expected to reach US$ 12,563.23 million by 2027 from US$ 7,260.50 million in 2019. It is estimated to grow at a CAGR of 7.2% from 2020-2027. The growth of the market is attributed to increasing prevalence of chronic diseases, rising adoption of regenerative medicines, and surging number of approvals for cell-based therapies. However, the high cost of cell therapy manufacturing hinders the growth of the market.
The cell therapy market, based on therapy type, is bifurcated into allogeneic and autologous. In 2019, the allogeneic segment accounted for a larger share owing to the availability of substantial number of approved products for clinical use. For instance, in 2018, Alofisel developed by TiGenix (Takeda) is the first allogeneic stem cell-based therapy approved for use in Europe.
Cell and Gene Therapy Drug Delivery Devices Market, 2030 - Market Opportunities in the Strong Pipeline of Cell and Gene Therapies
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Cell and Gene Therapy Drug Delivery Devices Market, 2030 - Market Opportunities in the Strong Pipeline of Cell and Gene Therapies
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.