NEW YORK, July 23, 2020
- The growing demand to treat autoimmune diseases and advancement in technology is fostering market growth
- Market Size – USD 9.29 Billion in 2019, Market Growth - CAGR of 17.7%, Market Trends – Rise in cardiovascular incidences
NEW YORK, July 23, 2020 /PRNewswire/ -- The global Autologous Cell Therapy Product Market is forecast to reach USD 35.64 billion by 2027, according to a new report by Reports and Data. The primary factor driving the market is the growing incidence of chronic diseases such as cancer, autoimmune diseases, and blood cancer, among many others. The rise in the population suffering from chronic conditions is also augmenting the market growth.
The global autologous cell therapy product market is anticipated to showcase an intensely competitive atmosphere in the following years. The principal performers in the market cooperate in joint investments, takeovers, mergers, and benefits to gain entry into the national market. Corporations are also setting up manufacturing units and subsidiaries in developing nations, and this initiative is contributing to the high demand for the market.
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The inception of effective guidelines for cell therapy manufacturing, the development of advanced genomic analysis techniques, a vast amount of research by cancer societies, and proven effectiveness of transplants are some of the primary growth drivers for the autologous cell therapy product market. Certain pharmacological and manufacturing issues and regulatory hurdles are restricting the growth of the market. The Japanese government has recognized autologous cell therapy and regenerative medicine as a major donor to the country's economic growth. This has attracted the attention of global market players towards the Asian market, thereby fostering marketing operations in the region.
The COVID-19 impact:
The market for autologous cell therapy products 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 a 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 in the research. The companies have entered the trial stage, and the private and public sectors are working continuously for the development of the vaccine.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented into the global autologous cell therapy product market on the basis of source, end-user, application, and region:
Source Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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