Chicago, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Cell Therapy Technologies Market is projected to grow from USD 4.0 billion in 2022 to USD 8.0 billion by 2027, at a CAGR of 14.6% from 2022 to 2027, according to a new report by MarketsandMarkets™. Growth in the market can be attributed to number of cell therapy clinical trials related to cancer. Furthermore, increasing incidence of communicable diseases and the growing risk of pandemics are also expected to fuel the market growth.
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The cell therapy equipment segment accounted for the second largest share of the product segment in the cell therapy technologies market in 2021.
The second largest share of cell therapy equipment segment can be attributed to the growing demand for these equipments. Cell therapy equipment is used in cell processing (such as cell isolation, expansion, and harvesting), cell preservation and handling, and process monitoring and quality control. The segment market is further sub-segmented into cell processing equipment, single-use equipment, and other equipment (flow cytometers, cell counters, microscopes, etc).
The stem cells segment accounted for the second largest share of the cell type segment in the cell therapy technologies market in 2021.
Rising awareness regarding the use of stem cells in the treatment of various diseases and the growing focus of players on stem cell research are driving the growth of this market segment. Rising collaboration between universities and biotechnology & biopharmaceutical companies for stem cell research and government support (availability of funding) are other important drivers.
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The Asia Pacific region is the fastest-growing region of the cell therapy technologies market in 2021.
The Asia Pacific is estimated to be the fastest-growing segment of the market. The growth of the market of the region is mostly driven by their low labor and manufacturing costs, which has drawn huge investments by biopharma giants to these countries. The increasing disposable income, growing prevalence of lifestyle and age-related chronic diseases also contribute to the high growth of the regional market.
Key players in the cell therapy technologies market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Lonza Group (Switzerland), Sartorius AG (Germany), Terumo BCT (US), Becton, Dickinson and Company (US), Fresenius SE & Co. KGaA (Germany), Avantor, Inc. (US), Bio-Techne Corporation (US), Corning Incorporated (US), FUJIFILM Irvine Scientific (US), MaxCyte Inc. (US), Werum IT Solutions GmbH (Germany), RoosterBio Inc. (US), SIRION Biotech GmbH (Germany), TrakCel (UK), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), GPI Iberia (Spain), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Manufacturing Corporation (US).
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