Cell Therapy Market To Reach USD 8.75 Billion by 2027

The global Cell Therapy Market is forecast to reach USD 8.75 Billion by 2027, according to a new report by Reports and Data. The market for cell therapy is observing a high demand due to the rise in the number of clinical trials across the world. These therapies are used in regenerative medicine, especially for degenerative and immunogenic pathologies. However, the applications of cell therapy in oncology will experience higher growth, owing to a large number of pipeline projects for the treatment of tumors or cancer. 

The inception of effective guidelines for cell therapy manufacturing, the development of advanced genomic analysis techniques, a vast number of research by cancer societies, and proven effectiveness of transplants are some of the primary growth stimulants for the market. Certain pharmacological and manufacturing issues and regulatory hurdles are restricting the growth of the market.

The Japanese government has recognized cell therapy and regenerative medicine as a major donor to the country's economic growth. This has influenced the attention of global market players towards the Asian market, thereby fostering marketing operations in the region.

Many deals and new companies are coming up to boost the research in cell therapy. UK Biotech startup Bit Bio received a €36.9 million Series A funding, in June 2020, to boost the manufacturing efficiency of human cells for application in cell therapy and drug discovery.

The COVID-19 impact:

The market for cell therapy will witness a surge in demand as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A remarkable number of biotech firms are in the midst of the race to scrutinize the virus's genome and are trying to develop a viable vaccine. These companies are investigating the virus at an unparalleled rate, and considerable funds are being invested into the research. The companies are in trial, and the private and public sectors are working continuously for the development of the vaccine.

To identify the key trends in the industry, click on the link below: 
https://www.reportsanddata.com/report-detail/cell-therapy-market