europe cell therapy Market

The Europe cell therapy market is expected to reach US$ 3,610.7 million by 2027 from US$ 2,125.7 million in 2019; it is anticipated to grow at a CAGR of 6.9% during 2019–2027.

The growth of the Europe cell therapy market is attributed to increasing prevalence of chronic diseases, rising adoption of regenerative medicines, and growing number of approvals for cell-based therapies. Factors such as high cost of cell therapy manufacturing restrain the growth of the market.   

Regenerative therapies aim to induce regeneration of cells, tissues, and organs and restore their functions. Increasing number of regenerative medicine applications for human clinical trials are submitted to the Food and Drug Administration (FDA) each year. This is driving the cell therapy market. As per the Alliance for Regenerative Medicine, in 2019 (Q3), 1,052 clinical trials utilizing regenerative medicine were underway globally; 218 cellular therapy trials were underway (41 Phase I, 147 Phase II, 30 Phase III) in 2019. Rapid advancements in the development of regenerative medicines to provide more effective solutions for chronic conditions are driving the market. Cell therapy is one of the fastest-growing segments of the regenerative medicine domain. Novartis’s Kymriah was the first cell therapy solution offered to treat B-cell acute leukemia, which opened opportunities for this emerging treatment therapy. Moreover, RepliCel, a regenerative medicine provider, has a wide range of regenerative medicine products in the pipeline, with three products—RCH-01, RCS-01, and RCT-01—in the development phase. Further, Sernova is engaged in the development of regenerative medicine technologies and has a huge pipeline of products for conditions, such as Diabetes, Hemophilia A, and hyperthyroidism.

The COVID-19 pandemic is becoming the most significant challenge across Europe. The cell therapy market witnessed some shortfall at the beginning of the COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lockdown announced by majority of European countries. However, the demand for the cell therapy increased drastically owing to the supportive government initiatives.

In 2019, the allogeneic segment accounted for a larger market share owing to the availability of substantial number of approved products for clinical use. However, the autologous segment is likely to register a higher CAGR in the market during the forecast period.

A few of the significant secondary sources referred to while preparing the report on the Europe cell therapy market are the World Health Organization (WHO), European Centre for Disease Prevention and Control (ECDC), Alliance for Regenerative Medicine, National Institutes of Health, and Anthony Nolan Foundation.