$6.3 Billion Worldwide Cell Therapy Technologies Industry to 2031 – Identify Growth Segments for Investment – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Cell Therapy Technologies Global Market Report 2022, By Product, By Cell Type, By Process, By End User” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global cell therapy technologies market.
The global cell therapy technologies market is expected to grow from $2.96 billion in 2021 to $3.52 billion in 2022 at a compound annual growth rate (CAGR) of 19.0%. The growth is mainly due to an increase in investments in cell therapies and the growth in research and development for cell therapy. The market is expected to reach $6.35 billion in 2026 at a CAGR of 15.9%.
Companies Mentioned
- Thermo Fisher Scientific
- Merck
- MaxCyte
- Lonza Group
- Sartorius
- Terumo BCT
- Fresenius Medical Care AG & Co. KGaA
- Avantor Inc.
- Miltenyi Biotec
- STEMCELL Technologies Inc.
- Beckman Coulter
- Danaher
- Becton Dickinson and Company
- GE Healthcare
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The cell therapy technologies market consists of sales of cell therapy technologies that are medicinal solutions used for developing and improving cell therapy, such as cell processing, cell banking, and point-of-care technologies. Cell therapy is a type of treatment used to inject active cells into the body of a patient for treating some disorders. This therapy seeks to treat diseases by altering certain sets of cells. In this technique, cells, which originate from the patient or a donor are modified outside the body and then injected into the patient.
The main types of products in cell therapy technologies are consumables, equipment, systems & software and is applied on the different type of cells including t-cells, stem cells, and other cells. Stem cells are special human cells that can become almost any type of cell in the human body. This can range from brain cells to muscle cells and is also used to fix damaged tissues. The different processes include cell processing, cell preservation, distribution, and handling, process monitoring and quality control and used in various sectors such as life science companies, research institutes.
Increasing investments by the government in cell-based research contributed to the growth of the global cell therapy technologies market. Governments are increasingly investing in research activities for developing therapies for diseases such as cancer, cardiovascular disease (CVD), and others. For instance, in November 2019, the Australian government released $150 million, over 10 years, for The Stem Cell Therapies Mission. The funding was obtained by Medical Research Future Fund (MRFF), to support Australian researchers to deliver new therapies.
High costs associated with cell therapy is expected to restrain the market in the forecast period. The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding. In less wealthy countries, the lack of cost-effective therapies for cancer has influenced the health conditions of the population and has led to a low average life expectancy.
For example, cell therapies, especially gene-editing cell therapies such as CAR-T therapy highly expensive. The two first CAR T-cell therapies, Kymriah and Yescarta, have been given price tags of $475,000 and $373,000 respectively, in the USA, with similar pricing in Europe. Thus, the high cost of cell therapy is restraining the growth of the market.
Strategic collaborations and partnerships between the industry players are gaining popularity in the cell therapy technologies market. Major companies are collaborating and partnering with other companies to developing new technologies in cell therapy areas for the treatment of a variety of diseases.
North America was the largest region in the cell therapy technologies market in 2021. Asia Pacific is predicted to record fastest growth over the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
For more information about this report visit https://www.researchandmarkets.com/r/lfqwth
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