CHICAGO, Oct. 28, 2020 /PRNewswire/ -- According to the new market research report "Cell Therapy Technologies Market by Product (Consumables, Equipment (Single-Use Equipment, Other Equipment), Systems & Software), Process (Cell Processing), Cell Type (T-cells, Stem Cells), End User (Research Institutes) - Global Forecast to 2025", published by MarketsandMarkets™, the Cell Therapy Technologies Market is projected to reach USD 5.6 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 14.4% from 2020 to 2025.
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The growth of this market is driven by the rising government investments in cell-based research, increasing incidence of chronic and infectious diseases, a large number of oncology-related cell therapy clinical trials, and increasing GMP certifications for cell therapy production facilities.
"Consumables is expected to hold the largest share of the cell therapy technologies market, by product in 2020."
On the basis of product, the market is segmented into consumables, equipment, and systems & software. The consumables segment accounted for the largest share of the market in 2019. Factors such as increasing investments by companies to develop advanced products as well as government initiatives for enhancing cell-based research are contributing to the growth of the cell therapy consumables market.
"T-cells is expected to hold the largest share of the cell therapy technologies market, in 2020."
On the basis of cell type, the market is segmented into T-cells, stem cells, and other cells. In 2019, T-cells accounted for the largest share of the market. Favorable government initiatives and the increasing demand for T-cell therapies are the key factors driving the growth of this segment.
"Cell processing is expected to hold the largest share of the market in 2020."
On the basis of process, the market is segmented into cell processing, cell preservation, distribution and handling, and process monitoring and quality control. The cell processing segment dominated the market in 2019. This segment is expected to grow at the highest CAGR during the forecast period. The cell processing stage makes the highest use of cell therapy instruments and media, especially during culture media processing. This is the major factor responsible for the large share and high growth of this segment.
"Biopharmaceutical & biotechnology companies and CROs segment commanded the largest share of the market in 2020."
By end user, the cell therapy technologies market is segmented into biopharmaceutical & biotechnology companies and CROs and research institutes, and cell banks. Biopharmaceutical & biotechnology companies and CROs dominate the market and are expected to grow at the highest CAGR. The large share of this regional segment can primarily be attributed to the high burden of chronic diseases and increasing R&D activities in the pharmaceutical and biotechnology industries.
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"North America commanded the largest share of the cell therapy technologies market in 2020."
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the market. The large share of this market segment can be attributed to the increasing incidence of CVD, increasing healthcare expenditure, growing disposable income, growing healthcare awareness, and the availability of technologically advanced devices in the region.
The major players operating in this cell therapy technologies market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany). MaxCyte (US), Danaher Corporation (US), and Becton, Dickinson and Company (US), Lonza Group (Switzerland), Sartorius AG (Germany), Terumo BCT (US), Fresenius Medical Care AG & Co. KGaA (Germany), Avantor, Inc. (US), Bio-Techne Corporation (US), Corning Incorporated (US), FUJIFILM Irvine Scientific (US), MaxCyte (US), Werum IT Solutions GmbH (Germany), RoosterBio Inc. (US), SIRION Biotech GmbH (Germany), CellGenix GmbH (Germany), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), Hemasoft (US), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Corporation (US).
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