The study involved four major activities to estimate the current size of the cell therapy technologies market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
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.
Major Growth Drivers:
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.
Expected Revenue Growth:
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.
Accessories to Fuel the Growth of Cell Therapy Technologies Market :
Precision medicine is an evolving approach for disease treatment and prevention, which takes into account individual variability in genes, environments, and lifestyles. Precision medicine involves the selection of drugs wholly tailored to a patient based on disease condition and history. Although this practice is expanding into all disease areas, oncology has seen the most progress.
Download PDF Brochure: www.marketsandmarkets.com/pdfdownloadNew.asp?id=213334978
“T-cells is expected to hold the largest share of the cell therapy technologies market, in 2020.”
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.
“Cell processing is expected to hold the largest share of the cell therapy technologies market in 2020”
On the basis of process, the market is segmented into cell processing; cell preservation, distribution and handling; and process monitoring and quality control. The cell processing segment dominated the market in 2019. This segment is expected to grow at the highest CAGR during the forecast period. The cell processing stage makes the highest use of cell therapy instruments and media, especially during culture media processing. This is the major factor responsible for the large share and high growth of this segment.
“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.
Request Sample Report: www.marketsandmarkets.com/requestsampleNew.asp?id=213334978
Key Market Players:
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).