Cell Therapy Technologies Market booming healthcare sector to drive the regional industry share Till 2026
Pune, Maharashtra, India, November 18 2020 (Wiredrelease) Allied Analytics –:According to the report, the global cell therapy processing industry garnered $1.69 billion in 2018, and is estimated to reach $12.06 billion by 2026, growing at a CAGR of 27.8% from 2019 to 2026.
“Cell Therapy Processing Market by Offering Type (Products, Services, and Software), and Application (Cardiovascular Devices, Bone Repair, Neurological Disorders, Skeletal Muscle Repair, Cancer, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026″
Increase in the incidence of cardiovascular diseases and surge in the demand for chimeric antigen receptor (CAR) cell therapy propel the global cell therapy processing market. However, poor demand from underdeveloped countries hinders the market growth. On the other hand, emerging markets are expected offer lucrative opportunities in the near future.
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.
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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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Key Findings of the Study:
Based on offering type, the products segment held more than 82.32% share in the global market in 2018.
By application, the skeletal muscle repair segment accounted for the largest market share in 2018, and is expected to remain dominant throughout the forecast period.
Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 29.0% during the forecast period.
Key players covered in the report include:
The key players profiled in this report include Cell Therapies Pty Ltd, Invitrx Inc., Lonza Ltd, Merck & Co., Inc. (FloDesign Sonics), NantWorks, LLC, Neurogeneration, Inc., Novartis AG, Plasticell Ltd., Regeneus Ltd, and StemGenex, Inc.
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