Cell Therapy Technologies Market is projected to grow from USD 4.0 billion in 2022 to USD 8.0 billion by 2027, at a CAGR of 14.6% from 2022 to 2027, according to a new report by MarketsandMarkets™. Growth in the market can be attributed to number of cell therapy clinical trials related to cancer. Furthermore, increasing incidence of communicable diseases and the growing risk of pandemics are also expected to fuel the market growth.
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Global Cell Therapy Technologies Market Dynamics
Rising Incidence of Chronic Diseases
Cell therapy has a wide range of applications in providing diagnostic/prognostic information as well as during clinical research related to HIV/AIDS, cancer, and various infectious diseases. Several factors, such as the growth in the population, climate change, and increasing contact between humans and animals, have increased the threat of new virus outbreaks. This has led to increase in cell therapy treatments, thus fueling the market growth.
Key Market Players
The global cell therapy technologies market is consolidated. The prominent players operating in this market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Lonza Group (Switzerland), Sartorius AG (Germany), Terumo BCT (US), Becton, Dickinson and Company (US), Fresenius SE & Co. KGaA (Germany), Avantor, Inc. (US), Bio-Techne Corporation (US), Corning Incorporated (US), FUJIFILM Irvine Scientific (US), MaxCyte Inc. (US), Werum IT Solutions GmbH (Germany), RoosterBio Inc. (US), SIRION Biotech GmbH (Germany), TrakCel (UK), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), GPI Iberia (Spain), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Manufacturing Corporation (US). Product launches and acquisitions are the key growth strategies undertaken by these companies to maintain their positions in the market.
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Thermo Fisher Scientific
Thermo Fisher Scientific offers a complete and integrated portfolio of solutions and services for clinical science, laboratory research, and analysis. It operates in four business segments—Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. Its Life Sciences Solutions segment offers a wide range of reagents, instruments, and consumables used in biological and medical research, discovery and production of new drugs and vaccines, as well as the diagnosis of diseases. The company offers products in the cell therapy technologies market through its Life Sciences Solutions and Laboratory Products and Services business segments.
Thermo Fisher has a wide customer base, which includes pharmaceutical and biotechnology companies, hospitals and clinical diagnostic laboratories, universities, research institutions, government agencies, and environmental and process control industries. The company operates in more than 180 countries across North America, Europe, Asia, the Middle East, Africa, and Latin America.
Merck KGaA
Merck operates through three business segments, namely, Healthcare, Life Science, and Performance Materials. The Life Science segment offers life science products and services for research and diagnostic purposes. Merck offers products in the cell therapy technologies market through its Life Science segment. This segment further operates through three divisions, namely, Process Solutions, Research Solutions, and Applied Solutions.
Merck operates in over 70 countries across North America, South America, Latin America, Europe, Asia, Africa, and the Middle East.
Danaher Corporation
Danaher Corporation operates through three strategic segments—Environmental and Applied Solutions, Life Sciences, and Diagnostics. The Diagnostics segment offers a wide range of products through its key brands—SCIEX, Beckman Coulter, Leica Biosystems, Leica Microsystems, Radiometer, and Cepheid. Beckman Coulter and Cytiva, subsidiaries of Danaher Corporation, cater to the cell therapy technologies market. Beckman develops, manufactures, and markets products in automation, diagnostics, and chemistry. Cytiva, which was formerly a part of GE Healthcare Life Sciences, offers cell therapy development solutions, such as cell processing, cell banking, and point-of-care technologies. The company operates in Europe, North America, and the Asia Pacific. It has 212 manufacturing and distribution facilities worldwide
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Related Reports:
Cell Therapy Technologies Market by Product (Media, Sera & Reagents, Cell Culture Vessels, Single Use Equipment, Systems & Software), Process (Cell Processing), Cell Type (T-cells, Stem Cells), End User (Biopharma, CMOs), Region - Global Forecast to 2027
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