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Personalized cell therapy is making waves in the healthcare sector and the market size is forecasted to grow from $13.98 billion in 2023 to $17.11 billion in 2024 at a compound annual growth rate CAGR of 22.4%. This substantial growth is rooted in increasing awareness of personalized medicine, escalating healthcare spending, growing government initiatives, an influx of funding for clinical research, and the rise in neurological disorders.
So, What's on the Horizon for the Personalized Cell Therapy Market?
The market scope for personalized cell therapy is expected to widen in the foreseeable future. Bolstering this view are projections that size the market at a staggering $38.52 billion by 2028 with a compound annual growth rate CAGR of 22.5%. This anticipated growth can be credited to rising clinical trials, increasing incidences of chronic illnesses, the expanding geriatric population, the rise in cancer instances, and elevating interest in regenerative medicines. The forecast period is also set to be marked by major trends ranging from technological advancements, integration of AI, personalized vaccines, bioinformatics, to microfluidic technologies. Take a peek at the comprehensive sample report here: https://www.thebusinessresearchcompany.com/sample.aspx?id=19137&type=smp
What's Steering the Growth in the Personalized Cell Therapy Market Forward?
Positioned as a significant growth propellant in the personalized cell therapy market is the rise in neurological disorders. Neurological disorders cover a spectrum of conditions related to the brain, spinal cord, and nerves that lead to symptoms such as impaired motor function, cognitive deficits, and sensory disturbances. These disorders are increasing due to an aging population, environmental stress factors, and lifestyle changes causing higher incidences of neurodegenerative diseases. Personalized cell therapy offers targeted treatments for individual patient needs in these disorders, potentially revitalizing damaged neural tissue and improving outcomes in complex conditions. Grab the full report here for a detailed analysis:
https://www.thebusinessresearchcompany.com/report/personalized-cell-therapy-global-market-report
Who are the Major Players Adding Momentum to the Market Growth?
Major companies in the personalized cell therapy market are busily forming strategic alliances aiming to expedite the advancement and commercialization of pioneering therapies. Such collaborations are integral in pooling resources, experience, and technologies, leading to augmented research and development capabilities, streamlined clinical trials, and efficient navigation of regulatory pathways. A case in point is the partnership formed in October 2022 between Century Therapeutics Inc., a US-based biotech company, and Bristol Myers Squibb BMS, a US-based biopharmaceutical company. This partnership involves the development and commercialization of allogeneic cell therapies using Century's innovative induced pluripotent stem cell iPSC technology.
How is the Global Personalized Cell Therapy Market Segmented?
The personalized cell Therapy market described in this report is segmented –
1 By Cell Type: Lymphocytes, Mesenchymal Stem Cell, Hematopoietic Stem Cell, Other Cell Type
2 By Technique: Platelet Transfusions, Bone Marrow Transplantation, Packed Red Cell Transfusions, Organ Transplantation
3 By Application: Cardiovascular Diseases, Neurological Disorders, Inflammatory Diseases, Diabetes, Cancer, Other Applications
4 By End-User: Hospital, Homecare, Specialty Clinics, Other End-User
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