Cell Therapy Technologies Market

Cell Therapy Technologies Market Size (2023 to 2028)

During the forecast period, the global cell therapy technologies market is forecasted to record 16.2% CAGR and be worth USD 7.5 Billion By 2028 from USD 5.82 billion in 2023.

MARKET DRIVERS:

The rise of investments by the government in cell-based research is the primary growth driver for the global cell therapy technologies market.

On-going R & D in multiple countries to find more effective treatment procedures for the ever-growing incidence of chronic diseases is estimated to support the cell therapy technologies market. Available funding for cell-based research that helps market key players develop innovative devices is a positive sign of the market growth rate. In addition, many governments are adopting innovative methods and therapies to support stem cell research, favoring the market during the forecast period. Additionally, a rising focus on personalized medicine is expected to boost the growth scope of the cell therapy technologies market. For the treatment and prevention of disease, precision medicine is needed by taking account of individuals in genes, lifestyle, and environment.

MARKET RESTRAINTS:

The major restraint obstructing the market's growth is the shortage of skilled professionals. Also, in the last few decades, a rapid increase in technology and product development also affected the market due to a shortage of trained professionals to operate complex instruments like multi-mode readers and flow cytometers. Expert professionals will be needed to perform complex instruments with a wide range of data outputs. Therefore, the shortage of skilled professionals is a prime restraint in the market of cell therapy technologies. 

Impact of COVID-19 on the Global Cell Therapy Technologies Market:

The COVID-19 pandemic impacted every market, the same as the cell therapy technology market. The COVID-19 pandemic has had a negligible negative impact on the cell therapy technology market. The need for efficient drugs or vaccines is growing due to the rapid spread of COVID-19 cases. While manufacturing vaccines, cell-based research is an essential step that helps grow the market. Staring days of COVID-19 disrupted the supply chain by negatively delaying clinical trials that impacted the market. However, considering the reduced impact of the COVID-19 pandemic and the uplifting of the restrictions imposed, the global cell therapy technologies market is anticipated to witness a healthy CAGR during the forecast period.

REPORT COVERAGE:

This research report on the global cell therapy technologies market has been segmented & sub-segmented based on the product, cell type, process, end-user, and region.

Cell Therapy Technologies Market - By Product:

• Consumables
• Equipment
• Cell Processing Equipment
• Single-use Equipment
• Other Equipment
• Systems & Software

The Consumables segment accounts for the largest cell therapy technologies market share based on the product. Initiatives by the government to enhance cell-based research therapy and growing investments by the companies to develop advanced consumables products are the leading factors hiking the growth of this segment.

Cell Therapy Technologies Market - By Cell Type:

• T-cells
• Stem Cells
• Other Cells 

The T-cell segment holds a significant share in the cell therapy technologies market based on cell type. An increase in demand for T-cell therapies and government initiatives are key factors driving this segment's growth.

Cell Therapy Technologies Market - By Process:

• Cell Processing
• Cell Preservation, Distribution, and Handling
• Process Monitoring and Quality Control

By process, cell processing accounts for the largest share of the cell therapy technologies market. During the forecast period, the cell processing segment records a high compound annual growth rate in the cell therapy technologies market. The usage of cell therapy instruments and media is a major factor in significant growth.

Cell Therapy Technologies Market - By End User:

• Biopharmaceutical & Biotechnology Companies and CROs
• Research Institutes and Cell Banks

By the end-user segment, Biopharmaceutical & Biotechnology companies and CROs segment is accounting for the largest share and expecting a record high compound annual growth rate in the cell therapy technologies market in 2020. The attributing factor is the high burden of chronic diseases and increased R&D activities.

Cell Therapy Technologies Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American region accounted for the largest share in 2022 and was estimated to record a high compound annual growth rate in the global cell therapy technologies market during the forecast period. Many leading North American companies are in the U.S., like the Institute for stem cell biology and regenerative medicine, Stanford University, and Yale stem cell center. The presence of leading companies plays a significant role as a growth-attributing factor. In addition, there is regulatory solid and financing support from the federal bodies to expand the market in the U.S. and Canada.

Asia-Pacific region is estimated to grow faster during the forecast period in the global cell therapy technologies market due to the availability of therapies at affordable prices and awareness among the public about healthcare entities. In the Asia-Pacific region, Japan is a leading country for cell therapy technology, attributing the fastest growth. Japan's government recognized that regenerative medicine and cell therapy play a vital role in developing development in the cell therapy technologies market.

KEY MARKET PLAYERS:

Some of the companies playing a dominating role in the global cell therapy technologies market are Thermo Fisher Scientific Inc., Merck KGaA., MaxCyte, Danaher Corporation, Becton, Dickinson and Company, Lonza Group, Sartorius AG, Terumo BCT, Fresenius Medical Care AG & Co. KGaA, and Avantor, Inc.

RECENT MARKET HAPPENINGS:

• In 2020, Lonza (Switzerland) collaborated with IsoPlexis (U.S.) to develop the next generation of cell therapy technologies.
• In 2020, Danaher purchased the Biopharma unit of General Electric Company.
• In 2019, to expand global bioproduction capabilities with a large-volume liquid manufacturing capacity for cell culture media, an investigation was made by Therma Fisher Scientific in the Inchinnan site.