The global cell therapy market size was valued at USD 7.8 billion in 2020 and is projected to expand at a CAGR of 14.5% from 2021 to 2028. The market is predominantly driven by the staggering rise in the number of clinical research on cell-based therapies. The regenerative medicine field is showcasing numerous developments such as cell-based therapies for treating chronic ailments.
The regenerative medicine field is going through a series of technological advancements aimed at improving diagnoses and therapies for chronic ailments. A single product can be used to provide a strong portfolio of candidates primarily through the introduction of proprietary cell lines, according to this theory. For instance, Immunicum uses T-cell primers, chimeric antigen receptor T cell (CAR-T) expansion, and dendritic cell neoantigen presentation technology to expand their product line for Immuno-oncology.
In addition, direct cell reprogramming has also drawn a lot of interest as a cutting-edge therapeutic approach owing to its efficacy and safety. Fortuna Fix, a privately held company, is planning to employ patient neural stem cells produced through direct reprogramming to restore lost neuronal tissue in cases of dementia or neurotrauma. This will make Fortuna Fix the first company to use patient neural stem cells clinically. These current initiatives are anticipated to strengthen the product portfolio in the market.
The market players are receiving U.S. FDA approvals for their wide portfolio of therapies for treating a range of diseases. For instance, Stemedica Cell Technologies, Inc. received FDA approval for an investigational new drug in September 2020 to begin its phase II trials using intravenously delivered allogeneic MSCs in Covid-19 patients. Ischemic-tolerant MSCs are a promising biological therapy for COVID-19 due to their immunomodulatory effects, minimal immunogenicity, and ability to reduce too pro-inflammatory responses, among other characteristics.
The top regional players in Canada are keen on capitalizing on the untapped potential for designing innovative therapeutic procedures. For example, RepliCel recently announced its investments in regenerative medicine development projects. Furthermore, in February 2021, the company publically rolled out its plans for the clinical testing and commercialization of its three new technologies in Japan, which include cell-based therapies - one for tendon regeneration and the other for skin rejuvenation.
Research Support Specialist, USA
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