A new report examines the booming cell therapy market, driven by effective treatments and rising demand. It analyzes trends, challenges, and opportunities and provides insights for strategic investment decisions.
NEWARK, Del., April 4, 2024 /PRNewswire/ -- As per Future Market Insights' latest analysis, the global cell therapy growth factor market is estimated to be valued at US$ 664.8 million in 2024. Global demand is forecast to rise at 7.5% CAGR, with total market size reaching US$ 1,370.2 million by 2034.
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Several factors are fueling the growth of the cell therapy growth factor industry. One such factor is the growing attractiveness of cell therapy as a treatment method for a wide variety of illnesses and ailments.
The growing recognition of cell-based treatment plans and their spectacular results in regenerative medicine are causing a corresponding growth in demand for cell therapy growth factors. These growth factors are essential for improving treatment consequences and optimizing cell culture conditions.
Growth factors are important for the improvement and boom of healing cells. This is because they manipulate important cell capabilities like survival, differentiation, and proliferation. These factors act as chemical messengers coordinating complex events during wound healing.
The rising incidence of chronic diseases, such as cancer and diabetes, is acting as a catalyst fueling demand for cell therapy growth factors. Similarly, rising interest in personalized medicine and advances in cell therapy technologies will boost market growth through 2034.
Companies are working to improve the creation and multiplication of therapeutic cells by not only developing sophisticated cell culture techniques but also combining these techniques with state-of-the-art technologies. A strategy change towards the creation of increasingly complex and physiologically realistic settings for cell development and differentiation is reflected in this all-encompassing approach.
Apart from utilizing bioreactors, microfluidic platforms, and three-dimensional (3D) cell culture systems, firms are also investigating innovative techniques like organ-on-a-chip systems and tissue engineering methodologies. By more closely simulating the intricacy of natural tissue settings, these cutting-edge technologies hope to reproduce cellular activities and interactions more faithfully.
In order to increase productivity, repeatability, and scalability in cell culture procedures, automation, and robotics are also being emphasized more and more. This will bode well for the target market during the assessment period.
Global Cell Therapy Growth Factor Market Report Scope
Attribute | Details | ||
Market Value in 2024 | US$ 664.8 million | ||
Market Size in 2034 | US$ 1,370.2 million | ||
Growth Rate (2024 to 2034) | 7.5% CAGR | ||
Forecast Period | 2024 to 2034 | ||
Historical Data Available for | 2019 to 2023 | ||
Market Analysis | US$ million for Value | ||
Key Countries Covered |
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Key Market Segments Covered | By Type of Growth Factors:
By Application:
By End-user:
By Region:
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Key Coverage in Global Cell Therapy Growth Factor Market Research Report |
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Key Takeaways from the Market Study
- The global cell therapy growth factor industry is set to total US$ 1,370.2 million by 2034.
- By type of growth factors, the transforming growth factor-beta (TGF-ß) held a prominent market share of 21.1% in 2023.
- By application, the oncology segment accounted for a 23.3% market value share in 2023.
- Among end-users, hospitals dominate the market, holding a share of 43.2%.
- North America accounted for a dominant market share of 36.6% in 2023.
- Demand in India is estimated to surge at 7.8% CAGR from 2024 to 2034.
- The United States market value is predicted to increase at 5.2% CAGR through 2034.
"Rising incidence of chronic diseases and increasing acceptance of cell therapies are key factors providing impetus for the growth of the cell therapy growth factor market," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Market Competition
Leading players are focusing on exploring new growth factors by utilizing cost-efficient production technologies. They are also employing strategies like mergers, partnerships, acquisitions, and collaborations to stay ahead of the competition.
Recent Developments:
- In October 2019, Merck, a prominent science and technology company, acquired FloDesign Sonics, headquartered in Wilbraham, Massachusetts, United States. FloDesign Sonics is known for its innovative acoustic cell processing platform designed to facilitate the industrialization of cell and gene therapy manufacturing. The financial terms of the acquisition were not disclosed.
- In January 2024, the United States-based Thermo Fisher Scientific unveiled the Gibco Cell Therapy Systems (CTS) Cellmation Software, marking a significant milestone in the field of clinical manufacturing processes for innovative cell therapies. This groundbreaking automation solution is uniquely designed to seamlessly connect and integrate workflows across various Thermo Fisher Scientific cell therapy instruments, all while ensuring compliance with current Good Manufacturing Practices (cGMP).
Purchase now and gain full access to the Cell Therapy Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
Want More Insights?
Future Market Insights (FMI) brings a comprehensive research report on projected revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global cell therapy growth factor industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the cell therapy growth factor market segment based on the type of growth factors (platelet-derived growth factor (PDGF), brain-derived neurotrophic factor (BDNF), epidermal growth factor (EGF), fibroblast growth factor (FGF), vascular endothelial growth factor (VEGF), granulocyte-macrophage colony-stimulating factor (GM-CSF), insulin-like growth factor (IGF), transforming growth factor-beta (TGF-ß) and others), application (cardiovascular diseases, autoimmune disorders, oncology, diabetes, orthopedic conditions, neurological disorders and others), and end-user (hospitals, specialty clinics, biotechnology and pharmaceutical companies and research institutes) across seven major regions.
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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