In a recent published report, Kenneth Research has updated the market report for Dendritic Cell Therapy Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Dendritic Cell Therapy Market products.
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Kenneth Research has recently added a report titled Dendritic Cell Therapy Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Dendritic cells are present in human blood and is basically a blood cell. Their basic functionality is to work as immune cells but these cells are present in small numbers, rather like a special force.
The major functionality of these cells is to identify the presence of unusual substance in the body, such as cancer cells, and examine the bits of such unusual substances and then kickstart the immune response by detecting the substance and bringing it to notice of the immunity system (T lymphocyte cells). The alerted immune system then circulates these cells across the body and destroy the cancer cells.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Market Dynamics
The key growth factors for dendritic cell therapy are growing incidence of cancer, development of technology due to the increase in awareness about cancer, drug innovations related to cancer, the available therapies in the market, and growth in health care expenditure are anticipated to drive the market over the forecast period 2018-2025.
Whereas lack of accessibility to advanced vaccines in rural areas and strict regulatory procedures are expected to hamper the market growth over the forecast period. Latest therapies such as cancer immunotherapy are predicted to boost the dendritic cell therapy market.
Novartis AG the Swiss pharmaceutical giant launched CAR-T drug Kymriah this drug aids in suspension of intravenous infusion and is majorly used for the adult’s treatments. This innovation is expected to boost the dendritic cell therapies market in the near future.
Market Segmentation
The dendritic cell therapy market has been categorized into product type, applications, end-users and geography. On the basis of product type the dendritic cell therapy market is segmented into creavax, sipuleucel, among others.
Dendritic cell therapy market on the basis of application is categorized into pediatrics, and adults. End-users segment is categorized into healthcare facilities, and research organizations among others. Sipuleucel segment is anticipated to grow at a higher CAGR during the forecast period owing to quick action taken up by this drug in order to boost the patient’s immune system to eliminate the tumor cells.
Regional Analysis
On the basis of region the dendritic cell therapies market has been categorized into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
North America and Europe dominated the market in the recent years due to the rising prevalence’s of disease, growing awareness among people, world class diagnosis techniques, and growing geriatric population are key growth factors driving the market in these regions. Huge investments in research and development activities and existence of African American population who are prone to cancer are enhancing the market in U.S.
The Asia Pacific market is expected to expand at a slow pace during the forecast period 2018-2025. Growing awareness concerning cancer, promising government initiatives, and advanced diagnosis laboratories with modern immunotherapies are driving the market in Asia Pacific region.
Growing investments in R&D of targeted therapy and immunotherapy are the key factors triggering the expansion of dendritic cell therapy market in Asia Pacific. Middle East and Africa and Latin America are expected to hold lowest market share of the market due to slow adoption of advanced technologies.
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Dendritic Cell Therapy Market: Key Players
The key players in dendritic cell therapy market are Kite Pharma, Juno Therapeutics, Fortress Biotech, Novartis AG, Eureka Therapeutics, Immune Therapeutics, Sorrento therapeutics, TILT Biotherapeutics, and Ziopharm among other key players. In the recent days cell therapy companies such as Novartis AG are massively growing due to developing factors such as high number of cell therapy clinical trials, fasten cell therapy product sanctions.
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