Dublin, Sept. 12, 2022 (GLOBE NEWSWIRE) -- The "Cell Therapy Technologies Market by Product (Media, Sera & Reagents, Cell Culture Vessels, Single Use Equipment, Systems & Software), Process (Cell Processing), Cell Type (T-cells, Stem Cells), End User (Biopharma, CMOs), Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The cell therapy technologies market is projected to reach USD 8.0 Billion by 2027 from USD 4.0 Billion in 2022, at a CAGR of 14.6% during the forecast period. The growth can be attributed to the increasing public-private partnerships. Several government and private organizations have made significant investments to strengthen R&D in cell therapy leading to a surge in cell therapy technologies demand, hence propelling market growth.
The cell preservation and distribution and handling process segment accounted for the second largest share of the market in 2021.
Cell preservation and distribution is an essential and vital step in the cell scaling-up process. In addition, with the growth in the demand for cell-based medical products and therapies, the demand for reliable storage equipment to preserve finite cell lines and cells manufactured in excess is expected to increase. This factor is expected to drive the growth of this market segment.
The CROs and CMOs accounted for the second largest share of the cell therapy technologies market in 2021.
To cater the large demand, pharmaceutical companies need to speed up clinical timelines, maintain business continuity, and free up resources for projects. This has increased outsourcing analytical tests to CROs and CMOs, thereby boosting the segment market growth.
Asia Pacific: The fastest-growing region in the cell therapy technologies market.
The Asia Pacific market is expected to register the highest CAGR during the forecast period. Some of the major factors contributing to the growth of the Asia Pacific market are low-cost manufacturing advantage, increasing per capita income, and the growing need to curb cancer. In addition, the growth of the geriatric population is also fueling the cell therapy technologies market in the region.
Market Dynamics
Drivers
- Increasing Government Investments in Cell-Based Research
- Rising Incidence of Chronic and Infectious Diseases
- Large Number of Oncology-Related Cell Therapy Clinical Trials
- Increasing GMP Certifications for Cell Therapy Production Facilities
Restraints
- High Cost of Cell-Based Research and Low Success Rate
- Dearth of Skilled Professionals
Opportunities
- Emergence of IPSCs as Alternatives to ESCs
- Increased Focus on Personalized Medicine
- Increasing Public-Private Partnerships for Development of Cell Therapies
- Emerging Asian Markets
Challenges
- Survival of Small Players and New Entrants
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Cell Therapy Technologies Market, by Product
7 Cell Therapy Technologies Market, by Process
8 Cell Therapy Technologies Market, by Cell Type
9 Cell Therapy Technologies Market, by End-user
10 Cell Therapy Technologies Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Avantor, Inc.
- Becton, Dickinson and Company
- Bio-Techne Corporation
- Corning Incorporated
- Danaher Corporation
- Fresenius Se & Co. KGaA
- Fujifilm Irvine Scientific
- GPI Iberia (Formerly Hemasoft)
- Ixcells Biotechnologies
- L7 Informatics
- Lonza Group
- Mak-System
- Maxcyte, Inc.
- Merck KGaA
- Miltenyi Biotec
- Organabio, LLC
- Roosterbio, Inc.
- Sartorius Ag
- Sirion Biotech GmbH
- Stemcell Technologies Inc.
- Terumo Bct, Inc.
- Thermo Fisher Scientific, Inc.
- Trakcel
- Werum It Solutions
- Wilson Wolf Manufacturing Corporation
For more information about this report visit https://www.researchandmarkets.com/r/p8eysu
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