The global Cell Therapy Market size is expected to reach USD 15.89 billion by 2030, expanding at 16.50% CAGR from 2023 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, gene, or cell. 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 therapy 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.
Related Press Release@ Cell Therapy Market Report
Cell Therapy Market Report Highlights
Cell Therapy Market Segmentation
Grand View Research has segmented the global cell therapy market based on therapy type, therapeutic area, and region:
Therapy Type Outlook (Revenue, USD Million, 2018 - 2030)
Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)
Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the Cell Therapy Market