According to research report 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.
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.
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North America commanded the largest share of the cell therapy technologies market in 2020.
On the basis of region, the cell therapy technologies market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2019, North America commanded the largest share of the cell therapy technologies market. The large share of this market segment can be attributed to the increasing incidence of CVD, increasing healthcare expenditure, growing disposable income, growing healthcare awareness, and the availability of technologically advanced devices in the region.
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What Drives the Market?
1. Rising government investments in cell-based research
2. Rising incidence of chronic and infectious diseases
3. Large number of oncology-related cell therapy clinical trials
4. Increasing GMP certifications for cell therapy production facilities
On the basis of product, the market is segmented into consumables, equipment, and systems & software. The consumables segment accounted for the largest share of the cell therapy technologies market in 2019. Factors such as increasing investments by companies to develop advanced products as well as government initiatives for enhancing cell-based research are contributing to the growth of the cell therapy consumables market.
On the basis of cell type, the market is segmented into T-cells, stem cells, and other cells. In 2019, T-cells accounted for the largest share of the cell therapy technologies market. Favorable government initiatives and the increasing demand for T-cell therapies are the key factors driving the growth of this segment.
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Some key players mentioned in the research report are:
The major players operating in this market are Thermo Fisher Scientific Inc. (US), 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), SIRION Biotech GmbH (Germany), CellGenix GmbH (Germany), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), Hemasoft (US), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Corporation (US)
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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.
