Market Overview:
Cell therapy manufacturing refers to developing living cells into therapeutic products that can treat various diseases such as cancer, neurological disorders, and cardiovascular diseases. It involves the controlled processing of cells or tissues into therapeutic preparations.
Market key trends:
The cell therapy manufacturing market is expected to witness significant growth due to increasing prevalence of chronic and life-threatening diseases. For instance, cancer is one of the major causes of mortality worldwide and is increasing rapidly. Also, rising demand for regenerative medicines is fueling the growth of cell therapy manufacturing market. Growing number of clinical trials for cell-based therapies and recent product approvals are also supporting the market growth over the forecast period.
Segment Analysis
The global cell therapy manufacturing market is segmented based on product, therapy type, end-user and region. On the basis of product, the market is divided into equipment and consumables. The consumables segment is further divided into reagents & media, sera, and growth factors & cytokines. The consumables segment dominates the market and is expected to continue its dominance over the forecast period. This is owing to the recurrent use of consumables in cell processing as compared to one-time equipment purchases.
The global Cell Therapy Manufacturing Market Size is estimated to be valued at US$ 12.99 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global cell therapy manufacturing market is expected to witness high growth, exhibiting CAGR of 15% over the forecast period, due to increasing prevalence of chronic diseases like cancer and cardiac conditions.
The global cell therapy manufacturing market size is expected to reach US$ 12.99 Mn in 2023.
The North America region is expected to dominate the global cell therapy manufacturing market during the forecast period. This is attributed to increasing R&D activities, prevalence of chronic diseases, and rising awareness about cell therapies in the region.
Key players operating in the cell therapy manufacturing market are WuXi AppTec, Inc., Lineage Cell Therapeutics, Inc., HEALIOS K.K., Lonza, Merck KGaA., Takara Bio Inc., Sumitomo Dainippon Pharma Co., LTD, Fujifilm Holdings Corporation, Thermo Fisher Scientific, Inc., Astellas Pharma Inc. WuXi AppTec dominates the cell therapy manufacturing market owing to its strong portfolio of services and global presence.
