Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Cell Therapy Raw Materials Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The estimated global market size for raw materials used in cell therapy was USD 4.31 billion in 2023 and is projected to reach USD 48.74 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 24.67% during the forecast period from 2024 to 2034. Key factors driving this growth include advancements in cell culture products, rising prevalence of chronic diseases, increased investments in cell therapies targeting various conditions, continuous progress in biotechnology, and a growing number of clinical trials.
The market growth is further fueled by the continuous development of cell culture methods, such as three-dimensional cell culture, aseptic techniques, and cell preservation. Additionally, the increasing focus on research and development, as well as the introduction of advanced cell therapy raw materials, contribute significantly to the expanding market.
During the forecast period, the market is expected to benefit from the growing demand for advanced cell therapy raw materials. The significant potential of cell therapy in treating various medical conditions has led to an increased demand for essential raw materials used in cell-based therapy production. This surge in demand is driving market growth, making cell-based treatments more accessible and cost-effective. The use of raw materials like cell culture, media, sera, and supplements plays a vital role in the cultivation and expansion of therapeutic cells, contributing to more efficient manufacturing processes.
The market is witnessing a boost in growth due to advancements in cell therapy research and development, particularly in specialized media products designed to support the growth and proliferation of therapeutic cells. For instance, Lonza's TheraPEAK T-VIVO cell culture medium, introduced in May 2023, aims to expedite cell therapy development.
The highest revenue-generating segment by product in 2023 was media, driven by the progress in cell therapy research and the demand for specialized media products. Antibodies are predicted to experience the fastest CAGR during the forecast period, driven by their essential role in targeted treatments, immune modulation, and advancements in biotechnology.
In terms of end-users, biopharmaceutical and pharmaceutical companies led the revenue in 2023, driven by increased awareness of the potential of cell therapies and significant investments in research, development, and commercialization. Contract Manufacturing Organizations (CMOs) and Contract Research Organizations (CROs) are expected to grow at the fastest CAGR during the forecast period, reflecting a trend toward outsourcing services and optimizing production procedures.
Regionally, North America is anticipated to have the highest revenue share during the forecast period, attributed to the growing prevalence of chronic diseases, demand for innovative cell-based therapies, increasing healthcare infrastructure, and collaborations among market players. In contrast, the Asia Pacific region is expected to grow at the fastest CAGR, driven by the rising prevalence of degenerative disorders, increased need for raw materials in cell-based therapy production, and growing investments by both government and private bodies.
Cell Therapy Raw Materials Market Analysis & Forecast (Revenue US$ Billion) by:
Product
- Cell Culture Supplements
- Sera
- Media
- Reagents & Buffers
- Antibodies
- Others
End-user
- CROs & CMOs
- Biopharmaceutical & Pharmaceutical Companies
- Others
Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Companies Mentioned
- Danaher
- Grifols SA
- Thermo Fisher Scientific Inc.
- Sartorius Stedim Biotech
- Charles River Laboratories
- ACROBiosystems
- Merck KGaA
- PromoCell GmbH
- STEMCELL Technologies
- Actylis
- RoosterBio Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $4.31 Billion |
| Forecasted Market Value (USD) by 2034 | $48.74 Billion |
| Compound Annual Growth Rate | 24.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/z3tif4
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