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  • Published In : Apr 2024
  • Code : CMI5413
  • Pages :168
  • Formats :
      Excel and PDF
  • Industry : Biotechnology
Market Challenges – High Cost of Cell Therapies

High cost of cell therapies is one of the biggest challenges, with financial implications for patients, payers, and providers. Therefore, it is essential to reduce the prices quoted by companies, in order to enhance the adoption of these therapies, and this is expected to hamper the market growth over the forecast period. In April 2022, Yescarta, a cell therapy was approved by the U.S. FDA, developed vy Gilead Sciences, Inc., a pharmaceutical company, for the treatment of certain B-cell lymphomas. The listed price for axicabtagene ciloleucel (Yescarta) in the U.S. is US$ 373,000.

Market Opportunities – Increasing Adoption of Inorganic Strategies by the Key Market Players

Increasing adoption of inorganic strategies such collaboration, agreement, and others by key players in cell therapies is expected to drive growth of the cell therapy market in the near future. For instance, in January 2022, Century Therapeutics, a biotechnology company, in collaboration with Bristol Myers Squibb, a pharmaceutical company, announced the initiation of research & development and commercialization of four induced pluripotent stem cell derived naturally who works as killer cell and T cell programs for hematologic malignancies and solid tumors. Under this collaboration agreement, Century Therapeutics will focus on the development and preclinical trials of cell therapy while Bristol Meyer Squibb will focus on clinical development and commercialization activities.

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