The Asia Pacific Cell Therapy Market size is expected to reach USD 2.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.9% from 2021 to 2028. Rapid advancements in regenerative medicine are anticipated to provide effective solutions for chronic conditions. A substantial number of companies in the growing markets, such as India and South Korea, are striving to capitalize on the untapped opportunities in the market, thereby driving the market.
The growth is greatly
benefitted by the fund and regulatory support from government bodies and
regulatory agencies. For instance, in August 2020, the government of South
Korea passed an Act on the Safety and Support of Advanced Regenerative Medical
Treatment and Medicine to establish a regulatory system for patient safety
during quality control and clinical trials, and to strengthen the regulatory
support for regenerative medicine development.
The implementation of
the act is expected to enhance clinical studies and approvals of regenerative
medicine in South Korea. Furthermore, CAR-T and TCR T-cell therapies have
already revolutionized hematologic cancer treatment. With the onset of the
COVID-19 pandemic, scientists are deciphering its potential against the novel
coronavirus. The concept of using T cells against chronic viral infections,
such as HIV and hepatitis B, has already been proposed.
Based on the previous
research insights, Singapore-based Duke-NUS medical school’s emerging
infectious diseases research program demonstrated the utility of these
immunotherapies in treating patients with COVID-19 infection. Thus, an increase
in research for use of cell therapies for COVID-19 treatment is expected to
drive the market in Asian countries. In April 2021, a team of researchers from
Japan used induced pluripotent stem cells (iPS) to find drugs that can
effectively inhibit the coronavirus and other RNA viruses.
Related Press
Release@ Asia Pacific Cell Therapy Market Report
Asia Pacific Cell
Therapy Market Report Highlights
- The research-use
segment accounted for the major revenue share in 2020. This can to a
substantial investment in research and their clinical translation in Asian
countries
- The segment is
also driven by the rapid advances in stem cell research which exhibits the
potential to effectively address the unmet demand of pharmaceutical and
biotech entities, as well as healthcare professionals in disease
management
- On the other
hand, the clinical use segment is expected to register a significant
growth rate during the forecast period owing to the success of CAR-T and
other cellular therapies in recent times
- Furthermore, the
declining price of stem cell therapy products is anticipated to boost
sales in this segment coupled with rising demand for effective
alternatives to conventional therapies against various chronic indications
- Based on the
therapeutic area, malignancies captured the maximum revenue share in 2020
- This can be owed
to relatively more application of cellular therapies in the management of
various cancer types such as acute myeloid leukemia, multiple myeloma, and
non-Hodgkin lymphoma
- The autologous
therapies segment dominated the 2020 market owing to the approval of
autologous CAR-T therapies, improved survival rate post transplantation
procedures, and relatively higher adoption rate
- Japan has emerged
as the leading Asian market, which can be attributed to its fast growth as
a hub for research on regenerative medicine
- On the other
hand, Singapore and India are anticipated to witness the fastest growth
over the forecast period owing to the presence of improving financing
programs to support and advance cell therapy product development in the
countries
List of Key Players of Asia Pacific Cell Therapy Market
·
Kolon TissueGene, Inc.
·
JCR Pharmaceuticals Co., Ltd.
·
Kolon TissueGene, Inc.
·
JCR Pharmaceuticals Co., Ltd.
·
MEDIPOST
·
PHARMICELL Co., Ltd.
·
ANTEROGEN. CO., LTD
·
Bristol-Myers Squibb Company
·
Novartis AG
·
Gilead Sciences, Inc.
·
Curocell, Inc.
·
JW Therapeutics (Shanghai) Co., Ltd.
·
Stempeutics Research PVT LTD
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.Contact:
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