14 March 2023 - - The "Cell Therapy Technologies Global Market Report 2023" report has been added to Dublin-based ResearchAndMarkets.com's offering.

The global cell therapy technologies market grew from USD 3.53bn in 2022 to USD4.24 bn in 2023 at a compound annual growth rate of 20%.

The cell therapy technologies market is expected to grow to USD 7.39bn in 2027 at a CAGR of 14.9%.

North America was the largest region in the cell therapy technologies market in 2022. Asia-Pacific is predicted to record the fastest growth over the forecast period.

The regions covered in the cell therapy technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing investments by the government in cell-based research contributed to the growth of the global cell therapy technologies market.

Governments are increasingly investing in research activities for developing therapies for diseases such as cancer, cardiovascular disease, and others.

For instance, in May 2022, The California Institute for Regenerative Medicine, a research center helping stem cell research invested more than USD 11m to fund a clinical trial for a cell therapy for the treatment of throat cancer.

The success of this therapy will save patients from undergoing radiotherapy and its side effects.

High costs associated with cell therapy are expected to restrain the market in the forecast period.

The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.

In less wealthy countries, the lack of cost-effective therapies for cancer has influenced the health conditions of the population and has led to a low average life expectancy.

For example, cell therapies, especially gene-editing cell therapies such as CAR-T therapy highly expensive.

The two first CAR T-cell therapies, Kymriah and Yescarta, have been given price tags of USD 475,000 and USD 373,000, respectively, in the USA, with similar pricing in Europe. Thus, the high cost of cell therapy is restraining the growth of the market.

Strategic collaborations and partnerships between the industry players are gaining popularity in the cell therapy technologies market.

Major companies are collaborating and partnering with other companies to develop new technologies in cell therapy areas for the treatment of a variety of diseases.

For instance, in August 2020, IsoPlexis Corp., USA-based, collaborated with Lonza, a Switzerland-based chemicals and biotechnology company, to enable the next generation of precision cell therapy manufacturing.

In another instance, in July 2020, Hitachi, Ltd., a Japan-based provider of a broad range of solutions including automated cell culture technologies to pharmaceutical companies in the area of cell therapy and regenerative medicine industry, collaborated with ThinkCyte, Inc., a Japan-based biotechnology company to focus on developing artificial intelligence -driven cell analysis and sorting system.

The countries covered in the cell therapy technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.