Cell Therapy Technologies Market Overview
Cell therapy, also known as cytotherapy or cell therapy, is a type of biotherapy that is used to produce cell-based drugs and therapeutic strategies. This therapy refers to the biological activities carried out by the cells which, in vivo or in vitro, would lead to the desired result. An increasing number and variety of suitable cell types have been established for external administration in recent years.
Cell Therapy Technologies Market is expected to project a notable CAGR of 14.2% in 2030.
Cell Therapy Technologies Market to surpass USD 6.7 billion by 2030 from USD 2.2 billion in 2018 at a CAGR of 14.2% throughout the forecast period, i.e., 2019-30.
Emerging economies such as Australia and China are expected to provide players in the industry with a wide range of growth opportunities powered by their large and rising populations, as well as a rise in the number of clinical trials and personalized medicine investments in these countries.
Cell Therapy Technologies Market: Segments
System and Software segment to grow with the highest CAGR of 6.32% during 2019-30
Cell Therapy Technologies Market is segmented by product as consumables, equipment, and systems & software. The greater market share of 41% in 2018 was accounted by equipment consumables segment of the cell therapy technologies market.
Growing industry investment in the development of advanced products along with government initiatives to boost cell-based research are contributing to the growth of the market for consumables in cell therapy. Increases in funding and space investments to enable the launch of new businesses are projected to fuel organic sales growth in the cell therapy industry.
In partnership with clients and other stakeholders, biomanufacturing companies work to boost the clinical development and commercial production of these therapies.
Cell Therapy Technologies Market: Market Dynamics
Rising government investments in cell-based research
The growth of the market is motivated by increased funding from the government and private organizations to support clinical trials of cell therapy and the implementation of appropriate guidelines for the development of cell therapy. The growth of cell banking facilities and the subsequent expansion of cell processing, storage, and characterization are enhancing the cytotherapy market’s volumetric capabilities globally.
The dearth of skilled professionals
In the last decade, despite technical advancement and product growth, the lack of a skilled workforce to operate complex instruments, such as flow cytometers and multi-mode readers, has affected the market.
A broad array of data outputs is produced by technologically advanced and highly complex flow cytometers and spectrophotometers that require analysis and review expertise. For trained practitioners worldwide, however, there is a demand-supply divide.
Cell Therapy Technologies Market: Regions
Cell Therapy Technologies Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Cell Therapy Technologies Market in North America held the largest market share of XX.X% in the year 2018 and will continue its lead through the forecast period.
The growing incidence of CVD, increasing healthcare expenditure, increasing disposable income, increasing healthcare awareness, and the availability of technologically advanced devices in the area can be attributed to the large share of this market segment.
One of the main factors driving the cell therapy market in North America is the involvement of leading universities such as the Institute of Stem Cell Biology and Regenerative Medicine, Stanford University, and Yale Stem Cell Center that support research activities in the US.
In addition, the industry is powered by strong legislative and funding support from federal bodies for the growth of this arena in the United States as well as Canada. In addition, the government of Japan has recognized regenerative medicine and cell therapy as a key contributor to economic growth in the region. The attention of global players to the Asian market has been positively affected by this, thus driving marketing operations in the region.
Cell Therapy Technologies Market: Key Players
• Thermo Fisher Scientific Inc. (US)
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Merck KGaA (Germany)
• MaxCyte (US)
• Danaher Corporation (US)
• Becton, Dickinson and Company (US)
• Lonza Group (Switzerland)
• Sartorius AG (Germany)
• Terumo BCT (US)
• Fresenius Medical Care AG & Co. KGaA (Germany)
• Avantor, Inc. (US)
• Bio-Techne Corporation (US)
• Corning Incorporated (US)
• FUJIFILM Irvine Scientific (US)
• Werum IT Solutions GmbH (Germany)
• RoosterBio Inc. (US)
Cell Therapy Technologies Market report also contains analysis on:
Cell Therapy Technologies Market Segments:
o Cell Processing Equipment
o Single-use Equipment
o Other Equipment
• Systems & Software
By Cell Type:
• Stem Cells
• Other Cells
o By Therapeutic Area
o By Cell Type
Stem Cell Therapies
BM, Blood, & Umbilical Cord-derived Stem Cells
Adipose derived cells
o Non-stem Cell Therapies
• Cell Therapy Technologies Market Dynamics
• Cell Therapy Technologies Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints