Latest Cell Therapy Market Growth Study 2022-2026 By The Business Research Company
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The cell therapy market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 16%, as per The Business Research Company’s market report!
Read More On The Cell Therapy Market Report 2022 – https://www.thebusinessresearchcompany.com/report/cells-therapy-global-market-report
The Cell Therapy Market Size In 2022 And Forecast
The global cell therapy market is expected to grow from $9.02 billion in 2021 to $10.74 billion in 2022 at a compound annual growth rate (CAGR) of 19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The cell therapy market is expected to reach $19.75 billion in 2026 at a CAGR of 16.5%.
The cell therapy market consists of sales of cell therapy and related services. Cell therapy (CT) helps repair or replace damaged tissues and cells.
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Rise In Prevalence Of Chronic Diseases Is Driving The Growth Of The Cell Therapy Market
According to the US Centers for Disease Control and Prevention (CDC), chronic disease is a condition that lasts for one year or more and requires medical attention or limits daily activities or both, and includes heart disease, cancer, diabetes, and Parkinson’s disease. Stem cells can benefit patients suffering from spinal cord injuries, type 1 diabetes, Parkinson’s disease (PD), heart disease, cancer, and osteoarthritis. For instance, according to the Center for Diseases Control and Prevention report in 2021, due to poor nutrition, and lack of physical activity, 6 in 10 adults in the USA are suffering from a chronic disease and 4 in 10 have two or more diseases. According to International Diabetes Federation, in 2019, globally 463 million people have diabetes and the number is expected to rise to 700 million by 2045. According to the Parkinson’s Foundation, every year, 60,000 Americans are diagnosed with PD, and more than 10 million people are living with PD worldwide. The growing prevalence of chronic diseases increased the demand for cell therapies and contributed to the growth of the market.
Competitive Landscape And The Regional Analysis Of The Cell Therapy Market
Major players in the cell therapy market are ibrocell Science Inc., JCR Pharmaceuticals Co. Ltd., PHARMICELL Co. Ltd., Osiris Therapeutics Inc., MEDIPOST, Vericel Corporation, Anterogen Co. Ltd., Kolon TissueGene Inc., Stemedica Cell Technologies Inc. and AlloCure.
The Cell Therapy Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cell therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the cell therapy market.
Strategically Partnering And Collaborating – A Key Trend In The Cell Therapy Market
Key players in the market are strategically partnering and collaborating to expand the product portfolio and geographical presence of the company.
Cell Therapy Market Segmentation By The Business Research Company
1) By Technique: Stem Cell Therapy, Cell Vaccine, Adoptive Cell Transfer (ACT), Fibroblast Cell Therapy, Chondrocyte Cell Therapy
2) By Therapy Type: Allogeneic Therapies, Autologous Therapies
3) By Application: Oncology, Cardiovascular Disease (CVD), Orthopedic, Wound Healing, Others
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