Autologous Cell Therapy Product Market

Market Synopsis:

Global Autologous Cell Therapy Product market is valued at USD 10.54 Billion in 2021 and is projected to attain a value of USD 34.8 Billion by 2028 at a CAGR of 17.1% during the forecast period, 2022–2028. The increased frequency of chronic diseases such as autoimmune diseases, cancer, blood disorders, and others is one of the primary drivers driving the Autologous Cell Therapy Product industry. The demand for market growth is also being fueled by an increase in the number of people suffering from chronic ailments. According to the American Autoimmune Related Diseases Association (AARDA), around 50 million Americans have an autoimmune disease in 2018, and this number is likely to climb in the future. There are a few more variables that are vital in propelling the Autologous Cell Therapy Product market forward, one of which is ongoing medication development for new applications, which is predicted to further propel the Autologous Cell Therapy Product market forward.

Most businesses have been working on the development of cell-based therapeutics for COVID-19 treatment, the impact of the COVID-19 pandemic on the Autologous Cell Therapy Product market is projected to be enormous. Because most pharmaceutical, biotechnology, and research organisations have been concentrating on the development of cell therapy-based treatment against COVID-19, the impact of COVID-19 is likely to have a beneficial impact on the studied market.

Rising Government Investments in Cell-Based Research

The demand for novel, better medicines for diseases like cancer and cardiovascular disease has led in an increase in general research effort, as well as financing for cell-based research. The Stem Cell Therapies Mission, a 10-year roadmap for stem cell research in Australia, was released by the Australian government in November 2019. Under the Medical Research Future Fund (MRFF), the project would grant USD 102 million (AU$150 million) to encourage stem cell research in order to develop novel medicines. The National Institutes of Health (NIH) has greatly boosted funding for the development of cell treatments in the United States over the years. The good financing situation is boosting demand for Autologous Cell Therapy Product research equipment, media, reagents, and accessories.

Dearth of Skilled Professionals

Despite technological advancements and product development over the last decade, the market has been hampered by a shortage of skilled workers who can operate sophisticated instruments like flow cytometers and multi-mode readers. Flow cytometers and spectrophotometers, which are technologically modern and very complicated, produce a wide range of data outputs that require skill to analyse and review. There remains, nevertheless, a global demand-supply gap for trained people.

Market Segmentation:

Global Autologous Cell Therapy Product market is segmented on the basis of Source into Bone Morrow & Epidermis. By End-User into Hospitals, Ambulatory Centers and Research Centers. By Application into Cancer, Neurodegenerative Diseases, Wound Healing, Orthopedic, CVD and Autoimmune Diseases. Based on region, the Autologous Cell Therapy Product market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Autologous Cell Therapy Product Market

North America dominated the Autologous Cell Therapy Product market. The region has experienced great economic growth, has access to cutting-edge technology, and has seen significant corporate and public sector investment. Other factors driving the market in the region include the availability of cutting-edge research infrastructure, the simplicity with which clinical trials may be approved, and a growth in R&D initiatives aimed at developing therapeutic options for chronic diseases. The United States is a big contributor to the country's key market vendors and research firms. Several pipeline developments in the region are boosting market demand. Celgene and Evotec SE increased their partnership in June 2019 to include a novel iPSC that will now be used to recover disease-modifying medicines for patients with neurological illnesses.

Key Players:

Key participants operating in the 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)

The Autologous Cell Therapy Product market is segmented as follows:

The Autologous Cell Therapy Product market scope can be tabulated as below: