Cell Therapy Market Size, Share, Growth Analysis, By Cell Type(Stem Cell, Non-Stem Cell), Therapy Type(Allogeneic Therapies, Autologous Therapies), Therapeutic Area(Oncology, Cardiovascular Disease, Musculoskeletal Disorders, Dermatology, Others), End User, and Region - Industry Forecast 2024-2031

Cell Therapy Market size was valued at USD 3.9 Billion in 2022 and is poised to grow from USD 6.7 Billion in 2023 to USD 190.91 Billion by 2031, growing at a CAGR of 52% during the forecast period (2024-2031).  

The cell therapy market is anticipated to expand rapidly due to the rising incidence of chronic diseases, the shifting preference toward regenerative medicine, and the surging number of clinical trials related to cell-based therapies. More people are now suffering from chronic diseases and conditions worldwide. The International Diabetes Federation’s Diabetes Atlas shows that 573 million adults globally were living with diabetes in 2021. This number is expected to rise to 643 million in 2030 and 783 million in 2045. 

The increase in funding for cell therapy clinical trials, the adoption of good practices for cell therapy manufacturing, and the success of cell therapy products have become key trends that are expanding firms in this market. The advancement in cell banking facilities along with the subsequent advancement in cell manufacturing, storage, and characterization has strengthened the market’s capability to handle large volumes across the world. Moreover, several organizations provide cell therapy characterization research and analysis services, and hence, contribute to enhancing the manufacturing of cell-based therapeutics. This has led to an enhancement of market revenues recently. The growth of clinical trials can be attributed to the number of funding agencies that have continuously given their approval and funding to projects at different stages of clinical trial phases. In Europe, most of the late phase projects are financed through European Union grants. For Instance, in July 2022, Achilles Therapeutics announced it had been awarded USD 4 million in grant funding for further development of ImmTAC technology. €2 million through Horizon Europe, which is the European Union’s primary research and innovation funding program to support the development of personalized therapy production. 

The concept of modified medicine has greatly increased the number of clinical trials. Autologous cell therapies, especially with genetically modified cells, have the advantage of individual treatment with targeted genetic characteristics of patients. It improves the efficacy of treatment plans and reduces side effects, which is a dramatic change in the healthcare model. The field of cell therapy is characterized by a significant level of innovation. The current cell-based therapy is made very effective and safe by latest research and technological developments. These advancements cover several important aspects, such as novel cell sources, improved production processes, and efficient delivery systems.

US Cell Therapy Market  is poised to grow at a sustainable CAGR for the next forecast year.