Personalized cell therapy, also known as personalized medicine, involves harvesting cells from patients and modifying them to treat diseases. Cancer cells are removed from patients and genetically engineered to attack only the cancer. The modified cells are then infused back into patients to fight various types of cancer including lung cancer, blood cancer, and skin cancer. Personalized cell therapy offers several advantages over traditional treatment methods. It provides a targeted treatment against the patient's specific cancer type and mutation profile. This enhances effectiveness and reduces side effects associated with traditional chemo and radiation therapies. US$ 6.41 Bn Additionally, since the treatment involves using a patient's own cells, the risk of rejection by the immune system is minimal. The growing incidences of various cancers and rising demand for effective and l CAGR of 13% over the forecast period 2024 ess toxic treatment options is fueling the adoption of personalized cell therapies.
Market key trends: One of the key trends in the personalized cell therapy market is the increasing investment in research and development of novel cell therapies. Several biopharmaceutical companies and academic research institutes are conducting clinical trials to test new cell therapy candidates. For instance, Gritstone Oncology is developing a T cell therapy candidate (GRT-C901) for non-small cell lung cancer. The therapy utilizes tumor-specific neoantigens to stimulate the immune system against cancer cells. Another example is Novartis's Kymriah, which is a chimeric antigen receptor T cell (CAR-T) therapy approved for treating blood cancer. Ongoing research in immunotherapies is anticipated to expand the applications of cell therapies to other types of cancer and conditions in the coming years.
Porter's Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirement to set up infrastructure for cell therapy.
Bargaining power of buyers: The bargaining power of buyers is high as there are a sizable number of key players engaged in personalized cell therapy manufacturing.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to presence of a number of suppliers for cell therapy raw materials and equipment.
Threat of new substitutes: Threat of new substitutes is low as personalized cell therapy is a niche market with no close substitutes.
Competitive rivalry: The competitive rivalry is high among key players to gain maximum market share.
Key Takeaways
The global Personalized Cell Therapy Market Growth is expected to witness high growth.
Regional analysis: North America dominates the global personalized cell therapy market and is expected continue its dominance over the forecast period of 2024 to 2031 supported by increased research funding and presence of key market players in the US and Canada.
Asia Pacific is expected to emerge as the fastest growing market for personalized cell therapy market. This can be attributed to increased awareness, improved healthcare infrastructure, and rising discretionary incomes in China, South Korea and India.
Key players operating in the Personalized Cell Therapy market are Continental AG, Valeo, Robert Bosch, Denso Corporation, Magna International, Ficosa, ZF Friedrichshafen, Gentex, Aptiv, Renesas Electronics. Key players are focusing on strategic collaborations and new product launches to consolidate their market position.
For more insights, read- https://www.newsstatix.com/personalized-cell-therapy-market-demand-growth-and-regional-outlook-by-2030/
For more details on the report, Read- https://masstamilan.tv/parp-inhibitors-a-promising-class-of-drugs-in-cancer-treatment/
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