PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1323873
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1323873
The global cell therapy technologies market size is projected to reach USD 7.8 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 13.3 % during the forecast period. Factors such as increasing government investments in cell-based research, rising incidence of chronic and infectious diseases, large no of oncology related cell therapy clinical trials, increasing GMP certification for cell therapy production facilities are likely to have positive impact on the market growth.
"The process segment held the dominant share in the cell therapy technologies market"
Based on process, the global cell therapy technologies market is segmented into cell processing, cell preservation, distribution & handling, process monitoring & quality control. The cell processing segment held a dominant share in the market in 2022. Advancement in cell processing techniques is likely to have positive impact on the growth of the market.
"Biopharmaceutical and biotechnology companies segment accounted for the largest share of the application segment in 2022."
Based on end users, the cell therapy technologies market is segmented into biopharmaceutical & biotechnology companies, CROS & CMOS, research institutes & cell banks. In 2022, the biopharmaceutical and biotechnology companies segment accounted for the largest share of the cell therapy technologies market. The segment held the dominant share in the market owing to various factors such as the emphasis on increase in number of cell therapy manufacturing facilities by key market players and rising investment in research activities of cell therapy.
"Asia Pacific region is likely to grow at a faster pace."
The cell therapy technologies market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by the increasing government investments in cell-based research. The increasing demand for cell therapy instruments and products from China, India, and Japan due to the rising research funding for vaccine development and changing disease profiles supports market growth in the Asia Pacific. Furthermore, increasing incidence of chronic and infectious diseases, the rising geriatric population, and government initiatives for healthcare infrastructural improvements are some of the elements anticipated to account for positive impact on the market growth.
This report provides a detailed picture of the cell therapy technologies market. It aims at estimating the size and future growth potential of the market across different segments, such as product, process,cell type, end-user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cell therapy technologies market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Becton, Dickinson, and Company (US), Lonza Group (Switzerland), Sartorius AG (Germany), and among others in the cell therapy technologies market.