Cell Therapy Market Updates

Cell Therapy Market size was valued at USD 6.9 Billion in 2023 and is poised to grow from USD 8.38 Billion in 2024 to USD 39.81 Billion by 2032, growing at a CAGR of 21.5% during the forecast period (2024-2032).

It is also impacted by collaborative ventures between drug giants and research centers with an intent to leverage next-generation technologies and expedite the commercialization of new cell therapies.Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Becton, Dickinson, and Company (US), Lonza Group (Switzerland), Sartorius AG (Germany), Nkarta, Inc. (US), Aurion Biotech (US), S. BIOMEDICS (Europe), MEDIPOST (South Korea), Anterogen Co., Ltd. (South Korea), JW Therapeutics (China), JCR Pharmaceuticals Co., Ltd. (Japan), Johnson & Johnson Services, Inc (US), Bristol-Myers Squibb Company (US), Gilead Sciences, Inc. (US), Novartis AG (Switzerland), Intellia Therapeutics (US), Iovance Therapeutics (US), CRISPR Therapeutics (Switzerland)

Cell therapy is crucial in offering the diagnosis, staging and prognosis of various diseases such as HIV/AIDS, cancer and infectious diseases. It also makes it possible for the researchers and healthcare professionals to obtain useful information on diseases’ dynamics, etiology and treatment outcomes by adopting unique cellular-based platforms. Some of the reasons include population increase across the globe, climatic changes and close contact between man and animals which makes it easier for new viruses to emerge. This is because cell therapy research and applications provide solutions to these challenges by availing enhanced diagnostic techniques, curative measures, and information on disease processes.

North America emerged as the largest revenue market in 2023, with a share of approximately 58%, and the joint research activities between the research institution and the large pharmaceutical firm. Many developments are being witnessed in the region through these partnerships. For instance, in June 2022, Immatics entered into a collaboration with Bristol Myers Squibb to work on the development of Gamma Delta Allogeneic Cell Therapy Programs. The Asia Pacific region is expected to witness a high growth rate during the forecast period owing to the growing demand for cell therapy. Some of these drivers include increased knowledge of new treatments, increased funding, and expected positive changes in government policies.