Rockville , July 27, 2023 (GLOBE NEWSWIRE) -- The revenues of the cell therapy technologies market were estimated at US$ 4.5 Billion in 2022 and are anticipated to grow at a CAGR of 14.4% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 19.6 Billion. Media, sera, and reagents combined are the top products of cell therapy technologies whose market is expected to grow with a projected CAGR of 14.2% from 2023 to 2033.
Cell therapy technologies are advanced in terms of safety, effectiveness, and consistency. The increasing frequency of chronic diseases such as multiple myeloma, solid tumors, lymphomas, leukemia, and blood malignancies is the prominent driver of the cell therapy technologies market. The development of new cell types, gene editing methods, and biomaterials, are the advanced cell therapy technologies used more frequently in both research and clinical settings.
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CAR-T cell therapy is a type of immunotherapy that involves modifying a patient's T cells to recognize and attack cancer cells. This therapy has shown promising results in the treatment of certain types of blood cancer, and several CAR-T cell therapies have been approved by regulatory agencies in the United States and Europe.
According to research, around 437 thousand new cases of leukemia were diagnosed worldwide and 309 thousand leukemia-related cancer deaths were reported in 2018. CAR T cell therapy was frequently used by the medical practitioner for the treatment of particular type of leukemia. Thus, it is anticipated that the market for cell therapy technologies will grow in the upcoming years.
In 2020, the Chinese government invested over US$ 15.5 billion in the biopharmaceutical industry, which includes cell therapy technologies. Due to increase in funding by the government, investors, and venture capitalists influence the growth of cell therapy technologies.
Country-Wise Analysis:
United States Cell Therapy Technologies Market Study:
The market in the United States is anticipated to increase by US$ 3.3 billion in absolute terms from 2023 to 2033, reaching a value of US$ 4.4 billion. From 2018 to 2022, the market in the United States grew at a CAGR of 11.7%, and from 2023 to 2033, it is anticipated to grow at a CAGR of 14.2%.
Also, the American Food and Drug Administration (FDA) has taken action to promote the creation of cell therapy treatments. The FDA introduced its Regenerative Medicine Advanced Treatment (RMAT) designation programme in 2017, which offers regenerative medicine products—including cell therapy—advanced technology and review. In order to advance the development of cell therapy, the government has launched a number of programmes and offers
Competitive Analysis:
Key players in the market are:-
- Thermo Fischer Scientific, Inc.,
- Merck KGaA,
- Danaher Corporation,
- Lonza Group,
- Sartorius,
- Terumo BCT,
- Becton Dickinson and Company,
- Fresenius SE & Co. KGaA,
- Avantor Inc.,
- Bio-Techne Corporation,
- Corning Incorporated,
- FUJIFILM Irvine Scientific,
- MaxCyte Inc.,
- RoosterBio Inc.
A few of the recent developments in the cell therapy technologies market are:
• In June 2022, Bio-Techne Corporation, a global provider of innovative tools and bioactive reagents for the research and clinical diagnostic acquired Namocell, a leading provider of fast and easy to use single cell sorting and dispensing platforms that are gentle to cells, and preserve cell viability and integrity.
• In February 2020, Immatics Biotechnologies GmbH collaborates with GSK, for the identification, research and development of next-generation T-Cell Receptor (TCR) Therapeutics with a focus on solid tumors.
Segmentation of the Cell Therapy Technologies Market:
- By Product:
- Media, Sera, and Reagents
- Cell Engineering Products
- Cell Culture Vessels
- Cell Therapy Equipment
- Cell Processing Equipment
- Single-use Equipment
- Systems and Software
- By Process:
- Cell Processing
- Cell Preservation, Distribution, and Handling
- Process Monitoring and Quality Control
- By Cell Type:
- T-cells
- Stem Cells
- Other Cells
- By End User:
- Biopharmaceutical & Biotechnology Companies
- CROs and CMOs
- Research Institutes and Cell Banks
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the cell therapy technologies market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Cell Therapy Technologies Market by Product (Media, Sera, and Reagents, Cell Engineering Products, Cell Culture Vessels, Cell Therapy Equipment, Cell Processing Equipment, Single-use Equipment, Systems and Software), by Process (Cell Processing, Cell Preservation, Distribution, and Handling, Process Monitoring and Quality Control), by Cell Type (T-cells, Stem Cells, Other Cells), by End User (Biopharmaceutical & Biotechnology Companies, CROs and CMOs, Research Institutes and Cell Banks), and by Region (North America, Latin America, Europe, Asia- Pacific , Middle East and Africa) from 2023 to 2033
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