Cell Therapy Technologies Market
Cell therapy is also popularly known as cellular therapy or cytotherapy. This therapy can be described as a type of biotherapy mainly utilized for the development of various drugs and therapeutic strategies that are cells based. Cell therapy is defined as a set of biological activities performed by cells in order to achieve a desired result either in vitro or in vivo conditions.
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Over the period of past few years, there is considerable growth in determining the range and number of appropriate cell types for exterior administration. It is interesting to note that these cells have demonstrated favorable healing capabilities in animal-based experiments for a wide range of health conditions. In the process of cell therapy, cell suspensions penetrate into the blood stream, or a tissue, or organ with a likelihood of these cells being able to help in healing of any injury.
The companies engaged in the cell therapy technologies market are growing focus toward the research and development activities. Apart from this, they are also seen engaged in different strategic moves including mergers and acquisitions. One of the key motives behind these strategies is expanding their present cell therapy portfolio. This aside, several enterprises are growing investment toward the development of new manufacturing operation sites. All these activities are boiling down into the growth of the cell therapy technologies market at promising pace in the years to come.
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Cell Therapy Technologies Market: Introduction
· Cell therapy, also called cytotherapy or cellular therapy, is a form of biotherapy used to develop drugs and therapeutic strategies based on cells. This therapy refers to the biological activities carried out by cells that would lead to a desired effect either in vivo or in vitro. In the past few years, a growing number and range of suitable cell types for external administration have been determined. These cells have shown positive healing ability in animal-based experiments for numerous diseases. In cell therapy, cell suspensions enter into an organ or tissue or the blood stream with the possibility that these cells would be able to heal any injury.
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Key Drivers, Restrains, and Opportunities of Global Cell Therapy Technologies Market
· The global cell therapy technologies market is projected to witness strong growth in the next few years. Increase in mergers and acquisitions among the key players drives the global cell therapy technologies market during the forecast period. For instance, GE Healthcare acquired Asymptote (UK) in 2017. The acquisition bolstered GE Healthcare's existing cell therapy portfolio with the help of new technologies for cellular materials’ cryopreservation.
· Focus of key players on increasing manufacturing units boosts the growth of the global cell therapy technologies market during the forecast period. On June 26, 2019, Sartorius opened its manufacturing operations site in Yauco, Puerto Rico. The site cost investment of up to US$ 100 Mn. The objective of the new site is to cater to the needs of the U.S. market given that the company has been expanding its presence in the U.S. in the past few years.
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· On June 19, 2019, Gamida Cell Ltd. and Lonza entered into a strategic manufacturing agreement for commercial production of its cytotherapy, Omidubicel. The cell product developed by Gamida is not yet fully approved by any national regulatory body. However, it currently has a phase III trial to test its use for the treatment of hematological malignancies. Better infrastructure, rise in number of GMP-certified manufacturing facilities, and rise in the number of cell-based therapy clinical trials are likely to fuel the growth of the global cell therapy technologies market.
· Presently, the world is struggling with the COVID-19 pandemic. This infection leads to pneumonia, severe & acute respiratory disorders, multiple organ failure, and, in severe cases, death. The market has experienced growth during the pandemic due to rise in demand for cell therapy technologies across the globe.
· Governments of developing countries are making significant investments to modernize health care infrastructure in their respective countries, which is likely to increase access to health care. This is expected to drive the demand for cell therapy technologies.
· However, high cost associated with development of new cell therapy technologies is likely to hamper the growth of the global market. However, government and regulatory bodies across the globe are allotting significant funds for the development of new cell therapy technologies. This is likely to boost the growth of the global cell therapy technologies market in the next few years.
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North America to Capture Major Share of Global Cell Therapy Technologies Market
· In terms of region, the global cell therapy technologies market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to be a major market during the forecast period. This is due to considerable rise in research & development activities. Moreover, advancements in the health care sector have led to the development of new technologies and equipment, which is anticipated to propel the market in the region. Furthermore, presence of leading companies and early access to latest & emerging technologies are attributed to North America's dominance of the global market in the next few years.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
The study involved four major activities to estimate the current size of the cell therapy technologies market.
Exhaustive secondary research was done to collect information on the market and its different subsegments.Key Factors Driving Market Growth:The emerging economies such as Australia and China are expected to provide a wide range of growth opportunities for players in the market which is driven by their large and growing populations as well as increase in the number of clinical trials and investments in the field of personalized medicine in these countries.Revenue Growth Analysis:The cell therapy technologies market is projected to reach USD 5.6 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 14.4% from 2020 to 2025.COVID -19 Impact on the Cell Therapy Technologies Market :The outbreak of COVID-19 is expected to have a minimal or negligible negative impact on the cell therapy technologies market.
The rise in the incidences of COVID has led to an increase in the need for an efficient drug or vaccine for COVID, which could help in reducing the severity of the cases.
Precision medicine involves the selection of drugs wholly tailored to a patient based on disease condition and history.
Although this practice is expanding into all disease areas, oncology has seen the most progress.Precision medicine offers a new paradigm in oncology, where a patient receives personalized treatment.
According to the new market research report “Cell Therapy Technologies Market by Product (Consumables, Equipment, Software), Cell Type (Human Stem & Differentiated, Animal), Process Stages (Cell Processing, Distribution, Handling, QC), End User, and Region - Global Forecast to 2023", published by MarketsandMarkets™, The Cell Therapy Technologies Market is projected to reach USD 19.9 billion by 2023 from USD 10.2 billion in 2018, at a CAGR of 14.4%.
Factors such as rising governent investments for cell-based research, the increasing number of GMP-certified production facilities, and the large number of oncology-oriented cell-based therapy clinical trials are driving the growth of this market.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=213334978Rising government investments for cell-based research, the increasing number of GMP-certified production facilities, and the large number of oncology-oriented cell-based therapy clinical trials are the key factors driving the growth of this market.
China, India, Japan, Korea, and Brazil are emerging markets for cell therapy instruments.These markets boast comparatively lenient standards and government regulations as opposed to developed markets in North America and the EU, and thus offer significant growth potential for providers.
However, the high cost of cell-based research and the low success rate is expected to restrain market growth to some extent during the forecast period.Browse and in-depth TOC on “Cell Therapy Technologies Market”75 - Tables30 - Figures116 - PagesKey Market PlayersKey players in this market include Beckman Coulter (US), Becton, Dickinson and Company (US), GE Healthcare (US), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT (US), and Thermo Fisher Scientific (US).Thermo Fisher was the largest player in the cell therapy technologies market in 2017.
In order to maintain its position in the market and further expand its product portfolio, the company focuses on the strategies of product launches, acquisitions, and expansions.
Merck holds the second position in the cell therapy technologies market.
Cell Therapy Technologies Global Market Report 2021 by The Business Research Company is the most comprehensive report available on the market, being wide-ranging both in terms of chronology and geography.
The report helps gain a truly global perspective as it covers 60 geographies, focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.TBRC’s market report includes a chapter on the COVID-19 impact on the cell therapy technologies industry, which gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market and how companies can strategize to bounce back from it.
With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected cell therapy technologies market growth numbers from 2021-2030.Request a Sample of the report:https://www.thebusinessresearchcompany.com/sample.aspx?id=4122=smpThe global cell therapy technologies market is expected to grow from $2.36 billion in 2020 to $2.96 billion in 2021 at a compound annual growth rate (CAGR) of 25.4%.
The growth is mainly due to an increase in investments in cell therapies and the growth in research and development for cell therapy.
The cell therapy technologies market is expected to reach $5.57 billion in 2025 at a CAGR of 17.1%.View more on the report:https://www.thebusinessresearchcompany.com/report/cell-therapy-technologies-global-market-reportThe Cell Therapy Technologies Global Market Report 2020-30 by The Business Research Company evaluates cell therapy technologies market size, growth rate, drivers, cell therapy technologies industry trends, and major companies.Cell therapy technologies market segments in the report are:1) By Product: Consumables, Equipment, Systems & Software2) By Cell Type: T-Cells, Stem Cells, Other Cells3) By Process: Cell Processing, Cell Preservation, Distribution And Handling, Process Monitoring And Quality Control4) By End-User: Life Science Companies, Research InstitutesThe table of contents in TBRC’s cell therapy technologies market report includes:1.
Competitive Landscape And Company Profiles28.
