EUROPE CELL THERAPY MARKET FORECAST 2022-2030

The Europe cell therapy market is projected to register a CAGR of 14.63% during the forecast period, 2022-2030, and is set to reach a revenue of $1990.50 million by 2030.

The cell therapy market growth in Europe is attributed to the increasing research, rising investments in the development of regenerative medicines, and government initiatives that promote stem cell treatments. However, the Europe cell therapy market growth is restrained by long-term safety concerns and high costs.

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The Europe cell therapy market growth analysis includes the assessment of the United Kingdom, Poland, Belgium, Germany, Spain, Italy, France, and Rest of Europe. In the United Kingdom, the regenerative medicine sector is projecting unprecedented growth. Around 2000 patients in the UK need stem cell or bone marrow transplants annually, as per the Anthony Nolan Foundation. Also, as per Blood Cancer UK, approximately 40,000 people are diagnosed with blood cancer every year, and almost 25,000 patients have blood cancer. Accordingly, bone marrow and stem cell replacement procedures increase the demand for cell therapies.

Further, regenerative medicine (RM) is evaluated as a promising area of science in the UK. Also, the number of advanced therapy medicinal product (ATMP) clinical trials is on a steady rise. For instance, there were more than 127 ongoing regenerative medicine clinical trials as of December 2019, according to Catapult UK. In addition, the increasing developments associated with RM within the UK are focused on a vast range of diseases that primarily target the eye, alongside neurological conditions, blood cancer, and bone & cartilage defects.

In Spain, the market growth is recording significant rates, given the increased funding for cell therapy research projects. Also, the growing investments and research activities in cancer-related projects to strengthen innovations offer growth opportunities. For instance, the partnership between the Spanish Association Against CANCER, the Italian Association for Cancer Research, and Cancer Research UK aims to accelerate translational research in drug resistance, immunotherapies, CAR-T cell production, and diagnostics at academic centers.

Additionally, strategic initiatives by international organizations promote the adoption of cell therapies. For instance, Global Stem Cells Group (GSCG) opened a new stem cell center in June 2019 in the country. Such factors drive the cell therapy market growth in these countries.

The Europe cell therapy market segmentation includes end-user, therapeutic application, therapy type, and cell type. The therapy type segment includes allogeneic and autologous.

Allogeneic therapies are produced in a large number of batches from irrelative donor tissues. They are made in large numbers to treat a large pool of patients. Accordingly, they must follow Good Manufacturing Practices (GMP) and hence are quality controlled. Also, manufacturers are prioritizing the development of regenerative therapies by emphasizing innovations.

In addition, several regenerative therapeutic applications have received approvals for clinical trials in Asia-Pacific, Europe, and the US due to the efficiency of allogeneic stem cell therapeutics. Furthermore, the approvals for clinical trials facilitate the launch of new product lines to accelerate the overall demand for stem therapy using allogenic stem cell therapeutics.

Some of the prominent market players operating in the Europe cell therapy market are Vericel Corporation, Stemedica Cell Technologies Inc, NuVasive Inc, Smith & Nephew Plc, etc.

Smith & Nephew Plc is a global medical devices business operating in the endoscopy, advanced wound management, and orthopedics markets. The company caters to procurement groups & patients, healthcare systems, payers & administrators, retail consumers, surgeons, etc. It has manufacturing facilities and distribution hubs in the Middle East & Africa, Asia-Pacific, North America, and Europe, with headquarters in London, the United Kingdom.

One of its key products, Bio4, is employed in bone repair at sites of bone damage in cell therapy for trauma, orthopedics, and spine surgeries.

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