“The cell therapy technologies market growth can be attributed to factors such as the large geriatric population, the rising prevalence of chronic medical conditions such as cancer and growing budgetary allocations for healthcare.”
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 surge in cell therapy technologies demand, hence propelling market growth.
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“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.
Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Lonza Group (Switzerland), Sartorius AG (Germany), Terumo BCT (US), Becton, Dickinson and Company (US), Fresenius SE & Co. KGaA (Germany), Avantor, Inc. (US), Bio-Techne Corporation (US), Corning Incorporated (US), FUJIFILM Irvine Scientific (US), MaxCyte Inc. (US), Werum IT Solutions GmbH (Germany), RoosterBio Inc. (US), SIRION Biotech GmbH (Germany), TrakCel (UK), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), GPI Iberia (Spain), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Manufacturing Corporation (US), are some of the major players operating in the market.
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“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 growing need to curb cancer. In addition, the growth of geriatric population is also fueling the cell therapy technologies market in the region.
The primary interviews conducted for this report can be categorized as follows:
· By Respondent: Supply Side- 80% and Demand Side - 20%
· By Designation: Managers- 45%, CXOs and Director level - 30%, and Executives - 25%
· By Region: North America -20%, Europe -10%, Asia-Pacific -55%, RoW -15%
List of Companies Profiled in the Report:
· Thermo Fisher Scientific, Inc. (US)
· Merck KGaA (Germany)
· Danaher Corporation (US)
· Lonza Group (Switzerland)
· Sartorius AG (Germany)
· Terumo BCT (US)
· Becton, Dickinson and Company (US)
· Fresenius SE & Co. KGaA (Germany)
· Avantor, Inc. (US)
· Bio-Techne Corporation (US)
· Corning Incorporated (US)
· FUJIFILM Irvine Scientific (US)
· MaxCyte Inc. (US)
· Werum IT Solutions GmbH (Germany)
· RoosterBio Inc. (US)
· SIRION Biotech GmbH (Germany)
· TrakCel (UK)
· L7 Informatics, Inc. (US)
· Miltenyi Biotec GmbH (Germany)
· STEMCELL Technologies (Canada)
· GPI Iberia (Spain)
· MAK-SYSTEM (US), OrganaBio, LLC (US)
· IxCells Biotechnology (China)
· Wilson Wolf Manufacturing Corporation (US)
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