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 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.
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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 cell therapy technologies market.
Consumables segment to account for the largest share of the cell therapy instruments market, by product
On the basis of product, the market is segmented into consumables, equipment, and systems & software. The consumables segment is expected to account for the largest share of the cell therapy instruments market in 2018. The large share of this segment is attributed to the high demand for consumables (such as growth factors and media) in cell-based experiments and cancer research and the growing number of new product launches. Moreover, consumables are required at every step of cell processing. This is further expected to drive their adoption in the market.
Browse and in-depth TOC on "Cell Therapy Technologies Market"
75 - Tables
30 - Figures
116 - Pages
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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.
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Cell processing segment to witness the highest growth during the forecast period
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. The cell processing stage makes the highest use of cell therapy instruments and media, especially during culture media processing. This is the major factor responsible for the large share and high growth of this segment.
The market is dominated by players such as Beckman Coulter, Inc. (US), Becton, Dickinson and Company (US), GE Healthcare (US), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT, Inc. (US), and Thermo Fisher Scientific, Inc. (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.
