Cell Therapy Processing Market to have Huge Technological Potential Over Period 2020 to 2026
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:The Cell therapy processing market size was valued at $1,695 million in 2018, and is projected to reach $12,062 million by 2026, growing at a CAGR of 27.8% from 2019 to 2026.
Cell therapy is the transplantation of human cells to replace or repair damaged tissue or cells. With new technologies, innovative products and limitless imagination, many different types of cells may be used as part of a therapy or treatment for a variety of diseases and conditions. Some of the cells that may be used include mesenchymal stem cells, dendritic cells, hematopoietic stem cells, skeletal muscle stem cells, lymphocytes and pancreatic islet cells.
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The products segment to maintain its leadership position by 2026
Based on offering type, the products segment contributed to more than four-fifths of the total share of the global cell therapy processing market in 2018 and is expected to maintain its leadership position throughout the forecast period. This is due to the extensive use of consumable & disposable products, rise in demand for CQA- & QbD-based products, and increase in adoption of single-use bioreactors for the production of modified cell lines. However, the software segment would portray the highest CAGR of 30.5% from 2019 to 2026. An efficient software solution can help companies in pharmaceutical and medical devices to comply with regulatory standards, which drives the growth of the segment.
The skeletal muscle repair segment to maintain its lion’s share in terms of revenue by 2026
Based on application, the skeletal muscle segment accounted for the largest market share of the global cell therapy processing market in 2018, accounting for more than one-fifth of the total market share in 2018. Moreover, the neurological disorders segment is estimated to grow at the highest CAGR of 29.7% from 2019 to 2026. The use of fetal neural tissue for cell therapy presented the first unambiguous proof that such grafts can be used to grow, evolve, and recover functional defects in rodents to varying degrees, which boosts the growth of the segment.
North America to maintain its dominance during the forecast period
Based on region, North America accounted for the highest market share in terms of revenue, accounting for nearly two-fifths of the global cell therapy processing market in 2018, and is estimated to maintain its dominance during the forecast period. This is attributed to presence of well-established healthcare infrastructure, higher buying power, and surge adoption of advanced medical therapies. In addition, rise in prevalence of osteoporosis coupled with surge in geriatric population fuels the growth of the market in this region. Moreover, Asia-Pacific is expected to maintain the highest CAGR of 29.0% from 2019 to 2026, owing to presence of huge patient base, increase in research and development expenditure, and surge in usage of cell therapy processing products.
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Leading market players
Invitrx Inc.Cell Therapies Pty LtdLonza LtdMerck & Co., Inc (FloDesign Sonics)NantWorks, LLCNeurogeneration, Inc.Novartis AGPlasticell Ltd.Regeneus LtdStemGenex, Inc.
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