Autologous Cell Therapy Market is Driven by Rise in Prevalence of Neurological Disorders & Cancer and Others
Wilmington, Delaware, United States, Transparency Market Research Inc. – Transparency Market Research (TMR) has published a new report titled, ‘Autologous cell therapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global autologous cell therapy market was valued at US$ 7.5 Bn in 2018 and is projected to expand at a CAGR of 18.1% from 2019 to 2027.
Cell therapy also termed as cellular therapy in which cellular components is injected into the patient (body) for better treatment outcome and to reduce side effects. A number of cells are used for cellular therapy treatment procedure such as T cells, stem cells, fibroblast, dendritic cells, chondrocyte etc.
Autologous cell therapy is an innovative therapeutic intervention in which patient’s own cells are used for the treatment procedure. Cells are cultured/engineered and expanded in-vitro and re introduced in the patient’s body for treatment purpose.
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North America dominated the global autologous cell therapy market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, increased usage of autologous cell therapy for treatment of various autoimmune and neurological disorders, and new product launch are expected to drive the market in North America.
Asia Pacific is likely to be a highly lucrative market for autologous cell therapy and it is expected to expand at a high CAGR during the forecast period
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Rise in Prevalence of Neurological Disorders & Cancer and Others to Drive Market
Increase in incidence of neurological disorders, cancer and autoimmune disorders are helps to drive the growth of this market during forecasted period.
Prevalence of several neurological disorders such as multiple sclerosis, Parkinson's disease, and others are helps to drive the growth of this market during forecasted period. According to Multiple sclerosis Society, in 2019, around 2.3. Mn people living with multiple sclerosis by globally.
According to Parkinson’s Foundation, more than 10 million people worldwide are living with Parkinson disease.
Increasing incidence of various type of cancers is another major factor to increase the demand of autologous cell therapy. According to World Health Organization, Cancer is the second leading cause of death globally, and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer.
Bone Marrow Segment to Dominate Market
Based on Source, the global autologous cell therapy market has been divided into bone marrow, epidermis, and others. The bone marrow segment dominated the global autologous cell therapy market in 2018 and the trend is projected to continue during the forecast period. This is because most of the mesenchymal and hematopoietic stem cells are extracted from the bone marrow. Bone marrow is the hub for most of the stem cells (major products are bone marrow based) and extensive R&D activities for bone marrow derived stem cells boost market growth. High preference and growing demand for bone marrow derived cells are likely to propel the segment in developed regions.
Epidermis segment is likely to be a highly lucrative market for autologous cell therapy and it is expected to expand at a high CAGR during the forecast period due to growing preference for stem cells/autosomal cells extracted from the skin as it is the largest organ in the body.
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Neurology Segment to be Highly Lucrative Segment
In terms of application, the global autologous cell therapy market has been classified into branded neurology, orthopedic, cancer, wound healing, cardiovascular disorders, autoimmune disorders and others.
The neurology segment dominated the autologous cell therapy market due to high preference for cell therapy products for neurodegenerative diseases, rapid rise of stroke death worldwide, and favorable government support accentuates market growth.
The cancer segment is expected to expand at a significant CAGR by 2027. This is due to huge product in the pipeline development.
Hospitals Segment to be Highly Lucrative Segment
In terms of end-user, the global autologous cell therapy market has been classified into hospital, ambulatory centers and research centers.
The hospitals segment dominated the autologous cell therapy market due to Most of the cell therapy procedures are performed in the hospitals as patient prefer hospital for cell therapy procedures for effective treatment.
The ambulatory centers segment is expected to expand at a fastest CAGR during the forecast period. This is due to cost-effective treatment as compared to hospitals, shorter waiting time, and rise in number of outpatient surgical procedures.
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North America to Dominate Global Market
In terms of region, the global autologous cell therapy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global autologous cell therapy market in 2018, followed by Europe.
North America accounted for major share of the global autologous cell therapy market in 2018. This is attributable to increase in health care infrastructure, technological advancement towards innovative treatment and favorable government support accentuate market growth in the region. The federal government has been encouraging research institutions in making treatment options commercially viable. The FDA has been authorized to provide orphan drug designations to many of the therapies developed for rare diseases using cell therapy.
The autologous cell therapy market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to increasing medical tourism, growing contract research activities, and economic growth of certain emerging countries such as China and India, exhibiting faster growth.
The global autologous cell therapy market is fragmented in terms of number of players. Key players in the global market include Pharmicell Co., Inc., Castle Creek Biosciences, Inc., Vericel Corporation, Lineage Cell Therapeutics, Inc., BrainStorm Cell Therapeutics, Caladrius Biosciences, Inc., Opexa Therapeutics, Inc., Regeneus Ltd., Takeda Pharmaceutical Company Limited., Sangamo Therapeutics, U.S. Stem Cell, Inc. and other prominent players.
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