The size of the Europe Cell Harvesting Systems Market was around USD 1.11 billion in 2022. It is expected to grow at a CAGR of 7.80 % to reach USD 1.62 billion by 2027.
The growth of the European cell harvesting systems is driven by the increasing prevalence of chronic diseases and other contagious diseases. Also, the growing number of pharmaceutical and biopharmaceutical industries is boosting the market growth. In addition, Y-O-Y growing demand for stem cell-based therapy in Europe is expanding the cell harvesting systems market. Other factors, including the market growth, are urbanization, growing population, changing lifestyles, and consumption of tobacco products are influencing the market growth.
In addition, factors such as growing awareness and the increasing demand for cell-based therapies are expected to accelerate the market growth. Increasing investments and funding by the government and non-government organizations in regenerative medicine and cell-based research and development activities are expected to provide lucrative growth opportunities for market growth. The growing geriatric population significantly contributes to the cell harvesting systems market in this region. There is a high prevalence of chronic diseases in the senior population, such as cancer and heart disease, leading to significant causes of death and disability. In addition, the growing cell transplantation rate in the region enables market growth during the forecast period. Further, the high use of stem cells in regenerative medicine in cancer, congenital diseases, and trauma contributes to market growth.
The absolute number of stem cell transplants across Europe must be adjusted for population size to establish an accurate comparison across countries. For example, Germany had the highest rate of stem cell transplants per 100,000 people in the EU in 2017, with 9.3 transplants per 100,000 people; Italy (8.5), France (8.3), Sweden (8.1), and Lithuania were next (8.0).
However, the high cost of inconvenient therapy, inadequate HSCs, viable cell density, and problems during cell harvesting are hampering the market growth. In addition, the lack of reimbursement policies in some of the countries in Europe is restricting market growth.
This research report on the European cell harvesting systems market has been segmented and sub-segmented into the following categories.
By End User:
Over the years, Europe has been making its mark in the cell harvesting systems market. The market held the second-largest share in Europe. The regional market growth is attributed to the availability of well-established healthcare infrastructure, growing investments in stem cells, technological advancements, key market players, and favorable reimbursement policies.
Germany accounted for the largest share of the market, and it is anticipated to record a predominant share during the forecast period. The market growth is driven by the increasing prevalence of chronic diseases, high healthcare spending, and technological advancements in the healthcare sector.
On the other hand, the UK is most likely to showcase a significant share in the market owing to the growing geriatric population, rising awareness, and the increasing demand for cell-based therapies.
Furthermore, emerging countries such as Italy, France, and Spain are projected to witness a considerable share in the cell harvesting systems market during the forecast period. The growing prevalence of certain diseases such as cancer and other contagious diseases is expected to boost these countries' market growth in the coming years.
KEY MARKET PLAYERS:
Avita Medical; Tomtec; Terumo Corporation; Perkin Elmer, Inc; Argos Technologies, Inc; Bertin Technologies; Arthrex, Inc; Brand GmBh + CO KG; Thomas Scientific; and Tereflex, Inc. are some of the noteworthy companies operating in the Europe cell harvesting systems market.
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