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. Cell-based research is an essential step during the manufacturing of vaccines, which can help in the growth of the market.
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.
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. Cell Therapy Technologies Market by Product (Consumables, Equipment (Single-Use Equipment, Other Equipment), Systems & Software), Process (Cell Processing), Cell Type (T-cells, Stem Cells), End User (Research Institutes).
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North America commanded the largest share of the cell therapy technologies market in 2020.
On the basis of region, the cell therapy technologies market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2019, North America commanded the largest share of the cell therapy technologies market. The large share of this market segment can be attributed to the increasing incidence of CVD, increasing healthcare expenditure, growing disposable income, growing healthcare awareness, and the availability of technologically advanced devices in the region.
What Drives the Market?
1. Rising government investments in cell-based research
2. Rising incidence of chronic and infectious diseases
3. Large number of oncology-related cell therapy clinical trials
4. Increasing GMP certifications for cell therapy production facilities
On the basis of product, the market is segmented into consumables, equipment, and systems & software. The consumables segment accounted for the largest share of the cell therapy technologies market in 2019. Factors such as increasing investments by companies to develop advanced products as well as government initiatives for enhancing cell-based research are contributing to the growth of the cell therapy consumables market.
On the basis of cell type, the market is segmented into T-cells, stem cells, and other cells. In 2019, T-cells accounted for the largest share of the cell therapy technologies market. Favorable government initiatives and the increasing demand for T-cell therapies are the key factors driving the growth of this segment.
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Some key players mentioned in the research report are:
The major players operating in this market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany). MaxCyte (US), Danaher Corporation (US), Becton, Dickinson and Company (US), Lonza Group (Switzerland), Sartorius AG (Germany), Terumo BCT (US), Fresenius Medical Care AG & Co. KGaA (Germany), Avantor, Inc. (US), Bio-Techne Corporation (US), Corning Incorporated (US), FUJIFILM Irvine Scientific (US), Werum IT Solutions GmbH (Germany), RoosterBio Inc. (US), SIRION Biotech GmbH (Germany), CellGenix GmbH (Germany), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), Hemasoft (US), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Corporation (US)
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