CELL THERAPY MARKET ANALYSIS

Regional Analysis

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North America remains the dominant region in the global cell therapy market and is anticipated to hold 37.6% of the market share in 2024, owing to strong presence of major market players and state-of-the-art infrastructure for research and development. The U.S. accounts for the largest share in the regional market mainly due to increasing investments in clinical research by both public and private sectors of the country. Rising adoption of advanced cell therapies for treatment of chronic diseases such as cancer, neurological disorders, and cardiac diseases has boosted the demand for cell therapy in North America. Moreover, presence of well-established healthcare system, high healthcare spending capability of population, and favorable reimbursement policies have encouraged clinical trials and commercialization of new cell therapy products in the region. Many biotech companies have set up their manufacturing and R&D facilities in North America to cater to the growing needs. These factors have made North America a very lucrative market for long term growth of cell therapy manufacturers.

Asia Pacific region is emerging as the fastest growing market for cell therapies globally. Countries such as China, India, South Korea and Japan are witnessing expansion of their healthcare industries at an exponential pace. Rapid economic development and rising healthcare expenditure have increased healthcare access and priorities for treatment of fatal diseases in Asia Pacific. Countries like China have particularly encouraged growth in this sector through initiatives to develop local manufacturing capabilities and research infrastructure. Domestic companies are collaborating with global players to accelerate clinical development and production of innovative cell therapies. Lower manufacturing costs and growing medical tourism in certain Asia Pacific countries are attracting companies to establish subsidiaries in this region. Increasing number of advanced therapy centers and clinical trials reflect huge potential of Asia Pacific cell therapy market.