LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global autologous cell therapy market to grow at a CAGR of more than 23% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global autologous cell therapy market for 2017-2021. The report also lists oncology, musculoskeletal disorders, and dermatology as the three major application segments of which the oncology segment dominated the market with more than 48% of the market share in 2016.
According to Sapna Jha, a lead research analyst at Technavio for cardiovascular and metabolic disorders, “This therapy has an established presence in the dermatology and musculoskeletal disorders segments. Also, there has been a growing focus of vendors on developing novel treatments for emerging applications such as cardiology and ophthalmology. Recently, the market has witnessed product approvals in these areas.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global autologous cell therapy market:
- Increasing demand for effective drugs for cardiac and degenerative disorders
- Limitations in traditional organ transplantations fueling demand for stem cell therapies
- Rise in funds for autologous stem cell therapy
Increasing demand for effective drugs for cardiac and degenerative disorders
There has been an increased demand for providing effective drugs for cardiac and degenerative disorders globally. Prior to the advent of autologous cell therapies, there was no effective drug to repair a damaged heart. The discovery of possible cardiac autologous cells opened new possibilities for repairing damaged cardiac tissue caused by acute myocardial infarction or coronary artery disease.
There are approximately 19 product candidates being developed for the treatment of cardiac disorders, with eight in Phase III and six in Phase II development stages. Some of the companies that are developing these drugs include Shire, Athersys, Japan Regenerative Medicine, MyoCell, and Celyad. These products are expected to be launched during the forecast period and will have a substantial impact on the market growth.
Limitations in traditional organ transplantations fueling demand for stem cell therapies
The growing concerns over organ transplantations have driven the demand for autologous stem cell therapy products. Conventional organ donation is associated with infection and immunosuppression risks and transplant rejection. The other complications include diabetes, high cholesterol, high blood pressure, and gastrointestinal problems. In addition, numerous people succumb to their illness owing to shortage of donors and consequently organs. According to research studies published in 2016, there are about 110,000-120,000 individuals waiting for lifesaving organ transplants in the US.
“Researchers are exploring ways to identify the application of stem cell therapies in various types of transplants. Moreover, graft rejection can be reduced with the use of autologous stem cells, as these are grown using the same individual's cells,” says Sapna.
Increase in government support
Many federal organizations provide funding to research institutes and small companies to help them develop stem cell therapies. Globally, many government organizations have noticed the importance of regenerative medicine and thus have allocated funds and grants in that area. For instance, in the US, the NIH and California Institute for Regenerative Medicine (CIRM) provide most of the funds.
In other regions, stem cell research is supported by significant investments from the governments of these countries. For instance, in APAC, Japan's continued research work has fueled the regenerative medicine segment. Japan established the Japan Agency for Medical Research and Development in April 2015, which will maintain funding and R&D in regenerative medicine to provide better support to research. In addition, private sources contributed an estimated USD 1.7 billion of stem cell funding globally in 2015.
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