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North America Cell Therapy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Therapy Type, Product, Technology, Application, and End User, and Country

North America Cell Therapy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Therapy Type, Product, Technology, Application, and End User, and Country

  • February 2021
  • 158 pages
  • ID: 6027834
  • Format: PDF
  • The Insight Partners
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The North America cell therapy market is expected to reach US$ 5,740.14 million by 2027 from US$ 3,262.56 million in 2019. The market is anticipated to grow at a CAGR of 7.4% from 2020 to 2027.
The growth of the North America cell therapy market is attributed to growing collaborative efforts to promote cell therapy and rising developments in cell therapy against COVID-19. However, stringent regulations are likely to restraint the market growth during the forecast period.
The COVID-19 pandemic is offering lucrative opportunities for players operating in the cell therapy market to accelerate the cell therapy research that can work against COVID-19.The deadly novel coronavirus has disrupted workflow, trade, and business worldwide.

It has hindered the economic and social lives of people across the countries.The North America is adversely affected by the pandemic.

On the other side, the outbreak is offering research and development opportunities for various biotechnology and biopharmaceutical companies to introduce treatment options through vaccine and medicine as well as cell therapy such as plasma therapy.
In a short span, the COVID-19 vaccine was introduced in the market to save lives across the world.However, the advancements in biotechnology have enabled companies to innovate treatment by using cell therapy.

For instance, in July 2020, Celltex Therapeutics Corporation announced that it had received approval from US FDA to proceed with Celltex’s Investigational New Drug application (IND 22055).The submitted application was to investigate the prophylactic efficacy of autologous adipose tissue-derived from mesenchymal stem cells (AdMSCs) to treat COVID-19.

The research results have shown promise for combatting symptoms and complications associated with COVID-19. Such developments in cell therapy to treat COVID-19 are likely to drive the growth of the North America cell therapy market in the coming years.
Based on therapy type, the North America cell therapy market is bifurcated into allogeneic and autologous.The allogeneic segment held a larger share of the market in 2019.

However, the autologous segment is anticipated to register a higher CAGR in the market during the forecast period.
In terms of product, the North America cell therapy market is segmented into consumables, equipment, and systems and software. The consumables segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during 2020-2027.
The North America cell therapy market, based on technology, is segmented into viral vector technology, genome editing technology, somatic cell technology, cell immortalization technology, cell plasticity technology, and three-dimensional technology.The viral vector technology segment held the largest share of the market in 2019.

Also, the same segment is anticipated to register the highest CAGR in the market during the forecast period.
By application, the North America cell therapy market is segmented into oncology, cardiovascular, orthopedic, wound management, and other applications.The oncology segment held the largest share of the market in 2019.

However, the orthopedic segment is anticipated to register the highest CAGR in the market from 2020 to 2027.
Based on end user, the North America cell therapy market is segmented into hospitals, research institutes, and others. The research institutes segment held the largest share of the market in 2019, and is estimated to register the highest CAGR in the market during the forecast period.
US Food and Drug Administration (FDA), American Society of Gene & Cell Therapy, Stem Cell Network, and World Health Organization (WHO) are among the major primary and secondary sources referred to while preparing the report on the North America cell therapy market.

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