The Autologous Cell Therapy Product Market is Anticipated to Grow at a Rate of 17.1% Within the Forecast Period
The Autologous Cell Therapy Product Market is anticipated to grow from USD 10.54 Billion to USD 34.8 Billion at a Compound Annual Growth Rate (CAGR) of 17.1% in the forecast period of 2022-2028. Autologous cell therapy is a stem cell intervention in which a patient's stem cells are enlarged outside the body. These cells are then returned to the body of the same patient. This treatment is less risky, as there is less chance of cell rejection being reintroduced as it comes from the same person. Over the years, autologous cell therapy has been used to treat various ailments such as various cancers and even blood disorders such as thalassemia.
The increase in the number of people under severe conditions has created a need for autologous cell therapy, which is driving the growth of the global market for Autologous Cell Therapy Product. Autologous cell therapy has a relatively low risk of complications compared with other therapies, which serve as a key driver in the growth of the Autologous Cell Therapy Product Market. Other factors that are expected to advance the market are affordability, improved patient survival rates, no risk of host-related diseases, and no need to identify HLA-compliant suppliers. Autologous cell therapy technology is transforming treatments by creating a few new treatments. Its use is extensive and promising in the years to come. This treatment is considered a safe and effective technology compared to existing regenerative technologies, such as xenotransplants and allogeneic. Autologous implants help to reduce the risks associated with infection, bio incompatibility, and immunological reactions. However, the costs of processing autologous cell therapy are high, which hinders the growth of the Autologous Cell Therapy Product Market. Though, if there is government intervention in compensation for medical insurance, this restriction may be lifted.
The Autologous Cell Therapy Product Market is segmented based on source, application, and end-user. Based on the source, the market is classified into bone marrow epidermis, mesenchymal stem cells, hematopoietic stem cells, and chondrocytes. The bone marrow segment controlled the market in 2021 and is anticipated to do so during the forecast period. It is because most of the mesenchyme and hematopoietic stem cells are recovered from the bone marrow. Based on application, the market is classified into cancer, neurodegenerative diseases, wound healing, orthopedic, cardiovascular diseases, and autoimmune diseases. Based on the end-user, the market is classified into hospitals, ambulatory centers, and research centers.
On the basis of regional analysis, the global Autologous Cell Therapy Product Market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the market for Autologous Cell Therapy Product. The region has strong economic growth, access to the latest technology, and significant investment by private and public companies. Other factors that advance the market in the region are the availability of state-of-the-art research infrastructure, easy accreditation of clinical trials, and the expansion of Research and Development (R&D) programs to improve treatment options for chronic diseases. important market vendors and research companies located in the country.
The major players included in the Global Autologous Cell Therapy Product Market are Vericel Corporation (US), Pharmicell Co. Inc(South Korea), Holostem Terapie Avanzate S.R.L (Italy), Lineage Cell Therapeutics Inc. (US), Opexa Therapeutics (US)
Browse the full Report - Autologous Cell Therapy Product Market by Source (Bone Marrow, Epidermis), by End User (Hospitals, Ambulatory Centers, Research Centers), by Application (Cancer, Neurodegenerative Diseases, Wound Healing, Orthopedic), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)