15 March 2021
Visiongain has published a new report on Cell Therapy Technologies Market Report 2021-2031: Forecasts by Product (Consumables, Equipment, Systems & Software), by Cell Type (T-Cells, Stem Cells, Other Cells), by Process (Cell Processing, Cell Preservation, Distribution, and Handling, Process Monitoring and Quality Control), End-user (Biopharmaceutical & Biotechnology Companies and CROs, Research Institutes and Cell Banks) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Cell Therapy Technologies Companies AND COVID-19 Recovery Scenarios.
Global cell therapy technologies market size is projected to be valued at US$ xx million in 2020 and is further expected to reach US$ xx million in 2026 while growing at a CAGR of xx% during the first half of the forecast period i.e., 2021 to 2026. The global market size is further projected to reach US$ xx million by 2031 at a CAGR of xx% from 2026 to 2031. The overall CAGR for the global cell therapy technologies market is expected to be xx% from 2021 to 2031.
COVID-19 Impact on Cell Therapy Technologies Market
The COVID-19 crisis has wreaked havoc on the cell and gene therapy (CGT) industry's manufacturing and supply of treatments, as well as commercial operations. Some CGT businesses have escaped relatively unscathed as a result of the COVID-19 health crisis, which has been more serious in some regions than in others. However, since the supply chains that help the manufacture and distribution of CGTs are long, complex, and tightly regulated, CGT companies have found themselves highly vulnerable to disruptions in regions where the novel coronavirus has been prevalent.
Rapidly Growing Regenerative Medicine Industry to Offer Tremendous Growth Opportunities for Cell Therapy Technologies Players
Since the United States is at the forefront of biomedical research and technology growth, it is well placed to lead developments in cell therapy technologies required to realise the potential of the rapidly increasing regenerative medicine industry. As advancements in cell-based therapies, implants, diagnostics, and other biopharmaceutical products continue, these fields will make life-changing treatments more accessible while also boosting U.S. manufacturing's economic growth and competitiveness. The widespread achievement of many important national goals would be accelerated by large-scale cell production and the increased commercialization of cell-based products that will follow.
Large Scale Cell Production to Boost Development of Successful Therapies
Large-scale cell production can assist in the development of more successful therapies that target the root causes of many diseases and disorders rather than only treating the symptoms. These next-generation cell-based medicinal products have the potential to cure or dramatically alter the trajectory of diseases, eliminating the need for life-long therapies and, as a result, enhancing the quality of life for millions of people. There are currently over 900 companies dedicated to the research and production of cell-based medical products, ranging from small and medium enterprises to multinational corporations. Visiongain anticipates that, increased U.S. investment in cell manufacturing could increase the number of companies and employment in the industry, allowing the country to maintain its lead in the developing field of cell-based medical treatments.
Asia Pacific Cell Therapy Technologies Anticipated to Witness Highest Growth Rate Through 2031
According to Visiongain analysis, Asia Pacific cell therapy technologies market is anticipated to witness highest growth rate of 14.52% from 2021 to 2031. The regional growth is attributed to growing demand from Indian region. Indian cell therapy technologies possesses the potential to occupy the leading position globally with a CAGR exceeding 14 percent through 2031. Biotechnology parks and incubators have been developed across the country by the Department of Biotechnology and BIRAC (Biotechnology Industry Research Assistance Council), respectively, to support the translation of research into products and services. Scientists and SMEs (small and medium enterprises) may use these biotechnology parks for technology incubation, demonstration, and pilot plant studies in order to speed up the commercialization process. All these factors are anticipated to boost Indian cell therapy technologies market over the forecast period from 2021 to 2031.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global cell therapy technologies market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the cell therapy technologies market. Some of the major companies operating in the global cell therapy technologies market are Thermo Fisher Scientific, Merck KGaA, Lonza, Danaher, STEMCELL Technologies Inc., Sartorius AG, TERUMO BCT, INC., Fresenius Medical Care AG & Co. KGaA, Avantor, Inc., BD, CellGenix GmbH, and Sirion-Biotech GmbH.
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