Personalized Cell Therapy Market to Surpass US$ 21.4 Billion Threshold by 2024, With High Cancer Prevalence Supporting Growth

Published On : May 26, 2017

The Global Personalized Cell Therapy Market was valued at US$ 3536.2 million in 2016 and is projected to expand at a CAGR of 25.3% during the forecast period (2017–2024 ), as highlighted in a new report published by Coherent Market Insights. The demand for disease specific drugs for treatment of disease that have high prevalence rate, for example autoimmune diseases, diabetes and cancer is expected to support growth of the personalized cell therapy market over the forecast period.

The main process that involved the use of personalized medicine is to get the right treatment for a particular patient depending on the patient’s genomics by the help of molecular biomarker tests and targeted therapies. Autoimmune diseases are the leading cause of death, as they are prevalent in almost every age group, though their incidence rate varies with estimates as more than 80 individual type of autoimmune diseases are present such as type I diabetes, rheumatoid arthritis, inflammatory bowel disease and many more. For instance, there were around 20 cases of rheumatoid arthritis per 100,000 person in a year. Although, its prevalence rates range from less than 5 per 100 000 to more than 500 per 100 000.

The genetic and other predictive information allows the physician to prepare the treatment regime for the specific disease as per patient requirement, also it helps to pin point optimal dosing system, preventing adverse events and focus efforts on prevention and earlier interventions.

There are various approaches involved in the personalized cell therapy that can be effective in oncology, cardiac and other chronic disorders. The approach is often multi-faceted, as it helps in various components during the treatment such as risk assessment, diagnosis, prevention, detection, management and treatment.

To know the latest trends and insights prevalent in the personalized cell therapy market, click the link below:

https://www.coherentmarketinsights.com/market-insight/personalized-cell-therapy-market-204

Most major players in the personalized cell therapy market are specifically focusing on product development. Thus, the market is currently progressing at a slow pace, though it is expected to gain major traction in the near future, on the backdrop various product being commercialized. As of 2017, there are over 40 cell therapy approved products available in the market. Novartis and Kite Pharma are expected to launch their products in 2017 and commercialize them in the following two to three years. CAR-T cell product launch in 2017 is expected to be catalytic force for overall growth of personalized cell therapy market.

Also, there are many drugs in pipeline such as CTL019 (tisagenlecleucel-T), Kte-C19 (axicabtagene ciloleucel) and it is expected that this drugs will drive the global personalized cell therapy market towards positive direction in the near future. Also, according to the University of Nottingham, in 2009, various collaboration between companies took place that were good index of industrial activities and alliances with large companies. There were a total of around 411 cell therapy deals between 1987 and 2008 end. These acquisitions and collaboration throughout the cell therapy sector is expected to support growth of the global personalized cell therapy market, owing to the novel technologies and advancements in the already existing technologies

Key takeaways of the personalized cell therapy market:

  • The global personalized cell therapy market is expected to expand at a CAGR of 25.3% during the forecast period (2017–2024). Paradigm shift in treatment technologies towards development of drugs is expected to favor growth of the personalized cell therapy market.
  • The platelet transfusions application segment in the global personalized cell therapy market was estimated to be the largest in 2016 and is expected to retain its dominance in the market throughout the forecast period in terms of value
  • In terms of therapeutic area segment, the cancer treatment area is estimated to be the largest segment as in this are the unmet needs are high and continuous drug development are underway in this disease area.
  • The global personalized cell therapy market is characterized by market expansion in Asia Pacific, Latin America, and Middle East could generate higher market revenue as this market is expected to lucrative market for industry players, also various studies that are being done in different countries of Latin America such as Brazil and Mexico to develop drugs based on personalized cell therapy
  • Some of the major companies in the global personalized cell therapy market are Cytori Therapeutics Inc., Bellicum Pharmaceuticals, Inc., Saneron CCEL Therapeutics, Inc., M olMed S.p.A. and Vericel Corporation.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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