Global Cell Therapy Market to Reach a Capital Expenditure of USD 10.23 billion in 2021 – eTurboNews | eTN

Global cell therapy market value wasUSD 10.23 billionin 2021.This will continue to grow at a CAGR of13.3%over the 2023-2032 forecast period.

Cell therapy is a technology that replaces damaged or dysfunctional cells with healthy functioning cells. Because stem cells can differentiate into the cells needed to repair damaged cells or tissue, they are the cells most often used in advanced therapies. Regenerative medicine is another area where cell therapy can be used. It involves the creation of multidisciplinary medicines that aim to maintain, improve or restore cell, tissue, or organ function. In cell therapy, many cells, including blood, bone marrow cells, mature and immature cells, adult stem, and embryonic cells, are used. Furthermore, transplanted cells, including induced pluripotent stem cells(iPSCs), embryonic and neural stem cells(NSCs), as well as mesenchymal and mesenchymal cells (MSCs), can be divided into two main groups: autologous and non-autologous.

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Cell therapy Market: Drivers

A rise in cell-based research and funding has resulted from the demand for new, better drugs for conditions like cancer and CVD. The Australian government published the Stem Cell Therapies Missionin November 2019. It is a 10-year strategy that will support stem cell research within Australia.The Medical Research Future Fund would fund the project with USD 102million (AU$150million) to support stem cell research and develop new medicines.Innovate UK (UKs innovation agency) was awarded USD 269670 (GBP 267,000) in September 2019 to fund the development of gel stabilization technologies. This was in response to Atelerixs first goal of increasing the shelf life of Rexgenero cell-based therapies that can be stored and transported at room temperature.

Cell therapy Market: Restraints

Despite technological developments and product advancements over the past decade, the industry has been hindered by a shortage of skilled personnel to operate complicated devices like multi-mode readers and flow cytometers. Technology-intensive devices such as spectrophotometers and flow cytometers can produce many data outputs that require skilled analysis and review. According to the National Accrediting Agency for Clinical Laboratory Sciences, there is a worldwide shortage of competent individuals (NAACLS). Over the next decade, Europe and the UK will likely face severe shortages in laboratory capabilities. The UKs medical laboratories will be the most severely affected.

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Cell therapy Market Key Trends:

Market Share is expected to be significant for the Allogeneic Therapies Segment of Cell Therapy

Allogeneic treatments rely on one source of cells to treat many patients. They can cause an immune response in patients and are often combined with immunosuppressive treatments. This is why physicians are increasingly inclined to use allogeneic therapies therapeutically. There is also a growing awareness of the therapeutic potential of cord cells and other tissues in various therapeutic areas. The benefits of allogenic cells are that they produce immune stem cells which kill any remaining cancer cells even after high-dose chemotherapy with cytotoxic drugs. This is called the graft-versuscancer effect. It is used for cancer relapse prevention and treatment. Over the forecast period, the market will be driven by the abovementioned factors.

The segment is expected to grow due to the increasing number of clinical trials needed to obtain regulatory approval for new medications. The segment has many growth opportunities, such as ALLO-501, Allo-501A, and ALLO-715.

Additionally, Allogene Therapeutics Inc. & SpringWorks Therapeutics Inc. have entered into a clinical collaboration agreement to evaluate and treat ALLO-715 in multiple myeloma patients.

This is due to the increasing number of research studies about allogenic therapy for cancer treatment and its associated benefits. The forecast period will see steady growth.

Recent development:

Immunocore was approved by the Food and Drug Administration (KIMMTRAK) in January 2022 to treat metastatic or unresectable uveal melanoma.

Novadip Biosciences was approved by the Food and Drug Administration in March 2021 for regenerative bone product NVD003 to treat rare bone diseases.

Scope of the Report

Key Market Players:

Industry, By Region

Key questions:

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Global Cell Therapy Market to Reach a Capital Expenditure of USD 10.23 billion in 2021 - eTurboNews | eTN