The size of the Latin America Cell Harvesting Systems Market is estimated to be worth USD 0.97 billion by 2027 from USD 0.70 billion in 2022, growing at a CAGR of 6.93% during the forecast period.
The Latin American cell harvesting systems market has witnessed promising growth in the global market over the years. The primary growth driver of the market is increasing investment in Regenerative medicine, biopharmaceutical industry, and cell-based research. Also, the high prevalence of chronic and contagious diseases is majorly uplifting the market growth. In addition, the Rise in incidence of blood cancer boosts the Demand for bone marrow transplantation and, consequently, the Demand for cell harvesting. Therefore, bone marrow transplantation is considered one of the important factors driving the market growth in Latin America.
On the other hand, the increasing number of cell research activities and growing emphasis on cell therapies are boosting the market growth in this region. Furthermore, new and improved technologies with better outcomes are fuelled by different technical developments in the healthcare sector, which is expected to push the cell harvesting systems market over the projected period.
Additionally, the evolving healthcare infrastructure and growing awareness about different cancers and availability of caners, and technological advancements in emerging countries such as Brazil and Mexico are expanding the market growth. Furthermore, the rate of stem cell transplantation has increased significantly throughout the region, which is another key driver of the rising demand. In addition, however, the Demand for cell harvesting systems is rising as autologous stem cell transplantation, and stem cell banking becomes more popular.
As most stem cell harvesting for transplantation and banking is done in hospitals, hospitals held the highest share in the end-use sector and are projected to hold the largest share during the projection period. The expansion of stem cell harvesting at academic institutes and R&D centers is likely to be aided by the rise in stem cell research.
However, the treatment's complexity, difficulties occurring during cell harvesting, high cost, and consequent lack of adequate reimbursement policies limit the market's growth.
This research report on the Latin America Cell Harvesting Systems Market has been segmented and sub-segmented based on the following categories:
By End User:
Geographically, the Latin American market is projected to witness a moderate share in the global cell harvesting systems market during the forecast period. Mexico, Brazil, and Argentina are expected to play a significant role in the Latin American Cell Harvesting Systems market during the forecast period. Because of the rising need for novel treatment options in the biopharmaceutical sector, emerging and developing nations such as Mexico will continue to rise in the market. Cell harvesting is one of the important parts of the biopharmaceutical industry, which directly relates to the quality of the product; therefore, the major market players in Latin America are investing in the biopharmaceutical industry, which in turn increases the market growth. Mexico has held the highest share in the cell harvesting systems market in Latin America due to the growing geriatric population and rising obesity levels, and various chronic diseases. On the other hand, the Rise in the incidence of blood cancer further boosts the Demand for bone marrow transplantation and, consequently, the Demand for cell harvesting in the countries such as Brazil, Argentina, and Chile.
Emerging and developing countries like Mexico will continue to expand because of the growing demand for innovative ways of treatment in the biopharmaceutical industry. In addition, the rising proportion of the aging population also fuels the market growth in Latin America.
KEY MARKET PLAYERS:
A few of the promising companies operating in the Latin American cell harvesting systems market profiled in this report are Avita Medical; Tomtec; Terumo Corporation; Perkin Elmer, Inc; Argos Technologies, Inc; Bertin Technologies; Arthrex, Inc; Brand GmBh + CO KG; Thomas Scientific; and Tereflex, Inc.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]