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The market is being driven by the increasing research and development (R&D) activities in the medical sector. The COVID-19 pandemic is expected to accelerate pharmaceutical and biotechnological based research projects, including cell therapy. Since the deadly virus critically damages the lungs and immune system of the infected patient, various cell therapies are increasingly being explored as a potential treatment for the novel disease, thus augmenting market growth. The development of effective treatment of solid tumours is likely to be another breakthrough for the cell therapy industry. The potential for cell therapy to treat major diseases, such as anaemia, cancer, and Alzheimer’s disease, among others, is projected to further strengthen the cell therapy industry in the forecast period.
Tego Science Inc (KOSDAQ: 191420) is a leading pharmaceutical company based in South Korea. The company holds a significant share in the market of cell therapy. Based on recent updates, the company completed the enrolment of patients for a phase-3 trial of TPX-114, which is an autologous cell therapy that has greater prospects for the cell therapy industry. The therapy treats full-thickness rotator cuff tear using the patient’s tissue. The constant research and development in the field of cell therapy is propelling the growth of the market. The demand for rotator cuff tear is rapidly rising owing to the ageing population and increasing sports activities, which is adding to the overall growth of the cell therapy market.
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The major players in the global cell therapy market are Tego Science, Chiesi Farmaceutici S.p.A, and Pharmicell Co., Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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