Introduction of the cell therapy market
Cell therapy replaces dysfunctional or damaged cells with healthy functioning ones. Stem cells are often used in advanced therapies because they can be differentiated into cells that repair or replace damaged tissue and cells; and cell therapy is also available in the area of regenerative medicine.
Multidisciplinary medicine uses cell therapy to create multidisciplinary medicines that improve, restore, or maintain cell, tissue, and organ function. Cell therapy uses many cells, including blood, bone, and immature cells, as well as mature and immature cells and adult stem cells. Transplanted cells can be classified into two groups, autologous or nonautologous.
The global cell therapy monitoring kits market is projected to reach a valuation of USD 4,288.30 Mn by 2032 at a CAGR of 5.0%, from USD 2,632.64 Mn in 2022.
Read More: “The Rapid Rise of Cell therapy in Healthcare”
Cell Therapy Market: Drivers
The demand for better treatments for diseases like cancer and cardiovascular disease has led to increased funding and cell-based research. In November 2019, the Australian government released the Stem Cell Therapies Mission. The Stem Cell Therapies Mission is a 10-year strategy to support stem cell research in Australia. The Medical Research Future Fund would finance the project with USD 102 million (AU$ 150 million). This money will be used to support stem cell research as well as develop new medicines.
Innovate UK, the UK’s innovation agency, was awarded USD 269670 (GBP 2677,000) in September 2019. This money will be used to develop gel stabilization technology. This was in response to Atelerix’s initial goal to increase the shelf life for Rexgenero-based therapies that can store and be transported at room temperature.
Cell Therapy Market Restraints
Despite the technological advances and product improvements over the past decade, the industry is still limited by the shortage of skilled personnel who can operate complex devices such as multi-mode readers or flow cytometers. Technology-intensive devices like flow cytometers and spectrophotometers can produce many data outputs requiring skilled analysis and review. According to the National Accrediting Agency for Clinical Laboratory Sciences (NAACLS), there is a shortage of qualified individuals worldwide. Over the next decade, Europe and the UK will likely face severe laboratory capabilities shortages. The UK’s medical labs will be most affected.
Suggested Reading: Cell Therapy Monitoring Kits Market
Cell Therapy Market Trends:
The Allogeneic Therapies Segment of Cell Therapy is expected to have a significant market share.
Allogeneic therapies rely on one source for cells to treat multiple patients. They can trigger an immune response and are often combined together with immunosuppressive therapies. Allogeneic therapies are becoming more popular among physicians. A growing number of people are becoming aware of the therapeutic potential of cord cells and other tissues in various therapeutic areas. Allogeneic cells also have the ability to produce immune stem cells that kill all remaining cancer cells, even after high-dose chemotherapy with toxic drugs. This is known as the graft-versus cancer effect, and it’s used to prevent and treat cancer relapses. The aforementioned factors will drive the market over the forecast period.
This segment is expected to expand due to the growing number of clinical trials required to get regulatory approval for new drugs. This segment has many growth opportunities, including ALLO-501, Allo-551A, and ALLO-715.
SpringWorks Therapeutics Inc. and Allogene Therapeutics Inc. have also entered into a clinical cooperation agreement to treat ALLO-715 patients with multiple myeloma.
This is due in part to an increasing number of studies on allogeneic therapy for cancer treatment and its benefits. This forecast period will show steady growth.
Recent development:
The Food and Drug Administration (KIMMTRAK) approved Immunocore in January 2022 for metastatic or unresectable uveal melanoma.
Novadip Biosciences was approved in March 2021 by the Food and Drug Administration for its regenerative bone product, NVD003, to treat rare bone disorders.
