DUBLIN, Aug. 10, 2021 /PRNewswire/ — The “Cell Therapy Technologies Global Market Report 2021: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com‘s offering.
The global cell therapy technologies market is expected to grow from $2.36 billion in 2020 to $2.96 billion in 2021 at a compound annual growth rate (CAGR) of 25.4%.
The growth is mainly due to an increase in investments in cell therapies and the growth in research and development for cell therapy. The market is expected to reach $5.57 billion in 2025 at a CAGR of 17.1%.
The cell therapy technologies market consists of sales of cell therapy technologies that are medicinal solutions used for developing and improving cell therapy, such as cell processing, cell banking, and point-of-care technologies. Cell therapy is a type of treatment used to inject active cells into the body of a patient for treating some disorders. This therapy seeks to treat diseases by altering certain sets of cells. In this technique, cells, which originate from the patient or a donor are modified outside the body and then injected into the patient.
North America was the largest region in the cell therapy technologies market in 2020.
High costs associated with cell therapy is expected to restrain the market in the forecast period. The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.
In less wealthy countries, the lack of cost-effective therapies for cancer has influenced the health conditions of the population and has led to a low average life expectancy. For example, cell therapies, especially gene-editing cell therapies such as CAR-T therapy highly expensive. The two first CAR T-cell therapies, Kymriah and Yescarta, have been given price tags of $475,000 and $373,000 respectively, in the USA, with similar pricing in Europe. Thus, the high cost of cell therapy is restraining the growth of the market.
In March 2020, Danaher Corporation, a USA-based company that designs, manufactures, and markets professional, medical, industrial, and commercial products, and services acquired General Electric (GE) biopharma business for $21.4 billion.
The biopharma business was a part of the GE life sciences division that offered software and equipment used in biopharmaceutical research. The acquisition is expected to expand Danahe life sciences business. General Electric Company is an American company that operates in four industrial segments: aviation, power, renewable energy, and healthcare globally.
Increasing investments by the government in cell-based research contributed to the growth of the global cell therapy technologies market. Governments are increasingly investing in research activities for developing therapies for diseases such as cancer, cardiovascular disease (CVD), and others.
Strategic collaborations and partnerships between the industry players are gaining popularity in the cell therapy technologies market. Major companies are collaborating and partnering with other companies to developing new technologies in cell therapy areas for the treatment of a variety of diseases.
1) By Product: Consumables; Equipment; Systems & Software
2) By Cell Type: T-cells; Stem Cells; Other Cells
3) By Process: Cell Processing; Cell Preservation, Distribution, and Handling; Process Monitoring and Quality Control
4) By End User: Life Science Companies; Research Institutes
Companies Mentioned: Thermo Fisher Scientific; Merck; MaxCyte; Lonza Group; Sartorius
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Thermo Fisher Scientific
- Lonza Group
- Terumo BCT
- Fresenius Medical Care AG & Co. KGaA
- Avantor Inc.
- Miltenyi Biotec
- STEMCELL Technologies Inc.
- Beckman Coulter
- Becton Dickinson and Company
- GE Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/8cpgey
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/global-cell-therapy-technologies-market-report-2021-consumables-equipment-systems-software—long-term-forecast-to-2025–2030-301352483.html
SOURCE Research and Markets