Global cell therapy instruments market to register a CAGR of 14.4%
LONDON, Dec. 31, 2018 /PRNewswire/ --
Global cell therapy instruments market to register a CAGR of 14.4% from 2018 to 2023
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The global cell therapy instruments market is projected to reach USD 19.9 billion by 2023 from USD 10.2 billion in 2018, at a CAGR of 14.4% during the forecast period. Factors such as rising government investments for cell-based research, the increasing number of GMP-certified production facilities, and the large number of oncology-oriented cell-based therapy clinical trials are driving the growth of this market. However, the high cost of cell-based research and low success rate are expected to restrain market growth during the forecast period.
Consumables segment to account for the largest market share in 2018
Based on the product, the cell therapy instruments market is segmented into consumables, equipment, and systems & software.In 2018, the consumables segment is expected to account for the largest share of the cell therapy instruments market.
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.
Cell processing segment dominates the cell therapy instruments market during the forecast period
Based on process, the cell therapy instruments market is segmented into cell processing; cell preservation, distribution, and handling; and process monitoring and quality control.The cell processing segment is expected to account for the largest share of the market in 2018 and is expected to grow at the highest CAGR during the forecasted 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.
Human cells to register the highest growth during the forecast period
Based on cell type, the cell therapy instruments market is segmented into human cells and animal cells.In 2018, the human cells segment is expected to account for the largest share of the cell therapy instruments market.
The rising adoption of human cells over animal cells for cell therapeutics research, technological advancements, and the rising incidence of diseases such as cancer and cardiac abnormalities are the key factors driving the growth of this segment.
North America to command the largest share of the cell therapy instruments market in 2018
The cell therapy instruments market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW).North America is expected to account for the largest market share in 2018.
The increasing R&D activities in the pharmaceutical and biotechnology industries is one of the major factors driving the demand for cell therapy instruments in North America during the forecast period.
Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
• By Designation: C-level - 30%, Director-level - 20%, and Others - 50%
• By Region: North America - 35%, Europe - 24%, Asia Pacific - 25%, and the RoW - 16%
Major players in this market include Beckman Coulter (US), Becton, Dickinson and Company (US), GE Healthcare (US), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT (US), and Thermo Fisher Scientific (US).
Research Coverage
This report studies the cell therapy instruments market based on product, cells type, process, end user, and region.The report also analyzes factors (such as drivers, opportunities, and restraints) affecting market growth.
It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total cell therapy instruments market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on cell therapy instruments offered by the top 10 players in the global cell therapy instruments market. The report analyzes the cell therapy instruments market by product, cell type, end user, process stage, and region
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various cell therapy instruments across key regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global cell therapy instruments market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and recent developments of the leading players in the global cell therapy instruments market
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