Cell Therapy Technologies Market worth $5.6 billion by 2025 – Rising Government Investments in Cell-Based Research

PUNE, India, 2021-Aug-11 — /EPR Network/ —

The Key Growth Elements in Detailed?

The Growth of Cell Therapy Technologies 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. The emerging economies such as Australia and China are expected to provide a wide range of growth opportunities for players in the market which is driven by their large and growing populations as well as increase in the number of clinical trials and investments in the field of personalized medicine in these countries.

Worldwide Growth Opportunities in Terms of Revenue:

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.

DRIVER: Rising government investments in cell-based research;

The need for newer, better therapies for diseases such as cancer and CVD has resulted in an overall increase in research activity, as well as the availability of funding for cell-based research. In November 2019, the Australian government released a 10-year roadmap for stem cell research in Australia—The Stem Cell Therapies Mission. The initiative would provide USD 102 million (AU$150 million) under the Medical Research Future Fund (MRFF) to support stem cell research to deliver new therapies. Similarly, in September 2019, Innovate UK, the UK’s innovation agency, awarded a funding of USD 269,670 (GBP 267,000) to develop gel stabilization technologies, developed by Atelerix, with the first objective of extending the shelf-life of Rexgenero’s cell-based therapies for storage and transport at room temperature. In the US, NIH funding for the development of cell therapies has increased significantly over the years. The favorable funding scenario is driving the demand for the equipment, media and reagents, and accessories used in cell therapy research.

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Regional Growth, Development and Demand Analysis:

The cell therapy technologies 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 cell therapy technologies 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.

Major Key Players Mentioned in the research report are:

The major players operating in 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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Key Developments:

• In 2020, Lonza (Switzerland) collaborated with IsoPlexis (US) to develop the next generation of precision cell therapy manufacturing.
• In 2020, Biopharma business from General Electric Company’s Life Sciences division (US) Danaher acquired the Biopharma business from General Electric Company’s Life Sciences division. The acquisition led to a new business named Cytiva, a standalone operating company within Danaher’s Life Sciences segment.
• In 2019, Thermo Fisher Scientific invested ~USD 24 million in its Inchinnan (Scotland) site to expand its global bioproduction capabilities with additional large-volume liquid manufacturing capacity for cell culture media.