Cell Therapy Technologies to reflect impressive growth in biopharmaceutical industry
Rising 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.
What the Cell Therapy Technologies Market Looks Like?
MarketsandMarkets forecasts The global 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% during the forecast period.
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.
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What Drives the Cell Therapy Technologies Market?
The growth of the global market for Cell Therapy Technologies Market is primarily influenced by the following factors:
- Rising Government Investments in Cell-Based Research
- Large Number of Oncology-Oriented Cell-Based Therapy Clinical Trials
- Affordability and Sustainability of Advanced Cell Therapy Instruments
By product, the cell therapy technologies market is segmented into consumables, equipment, and systems & software. The consumables segment is expected to account for the largest share of the market in 2018. 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.
Based on process, the cell therapy technologies market is segmented into cell processing; cell preservation, distribution, and handling; and process monitoring and quality control. The cell processing segment is expected to account for the largest market share in 2018 and is projected to witness the highest CAGR during the forecasted period.
Recent Developments :
- In 2018, Thermo Fisher Scientific launched a new series of compact refrigerators.
- In 2018, Thermo Fisher Scientific launched an advanced laboratory management system for data integrity and complete regulatory compliance.
- In 2018, Lonza opened its Collaborative Innovation Center in Haifa, Israel.
- In 2018, Sartorius will offer current and future Lonza media and buffers on a non-exclusive basis as part of its extensive portfolio of products for cell-based development and manufacturing.
- In 2017, GE Healthcare acquired Asymptote (UK) in order to strengthen its cell therapy portfolio with a suite of technologies for the cryopreservation of cellular materials.
Geographical growth scenario of Autoinjectors Market :
The market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the market in 2018 owing to the high burden of chronic diseases and increasing R&D activities in the pharmaceutical and biotechnology industries. The Asia Pacific region is expected to register the highest CAGR during the forecast period. The increasing demand for cell therapy instruments and products from China, India, and Japan primarily due to the increasing research funding for vaccine development and changing disease profiles is supporting the growth of the market in the Asia Pacific.
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Leading market players and strategies adopted
Key players in this cell therapy technologies 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).
Critical questions the report answers:
- What are the growth opportunities related to cell therapy instruments across major regions in the future?
- Emerging countries have immense opportunities for the growth and adoption of cell therapy instruments products. Will this scenario continue in the next five years?
- Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
- What are the various products related to cell therapy and their market share in the overall cell therapy technologies market?
- What are the new trends and advancements in the market?
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