[116 Pages Report] The global cell therapy technologies 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. 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 the key factors driving the growth of this market. China, India, Japan, Korea, and Brazil are emerging markets for cell therapy instruments. These markets boast comparatively lenient standards and government regulations as opposed to developed markets in North America and the EU, and thus offer significant growth potential for providers. However, the high cost of cell-based research and the low success rate is expected to restrain market growth to some extent during the forecast period.

Consumables are expected to account for the largest cell therapy technologies market share in 2018

By product, the cell therapy technologies market is segmented into consumables, equipment, and systems & software. The consumables segment is expected to account for the largest share of the market in 2018. 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 to witness the highest growth during the forecast period

Based on process, the cell therapy technologies 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 market share in 2018 and is projected to witness 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 segment accounts for the large share of the cell therapy instruments market, by cell type

Based on cell type, the 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 technologies 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.

Life science research companies segment to dominate the cells therapy instruments market in 2018

Based on end user, the cells therapy instruments market is segmented into life science research companies and research institutes. The life science research companies segment is expected to dominate the market in 2018 as well as grow at the highest CAGR during the forecasted period. The large share of this end-user segment can be attributed to the high adoption of advanced instruments (including Cell Expansion systems and single-use equipment) in cell-based experiments and cancer research as well as the increasing number of R&D facilities globally.

North America to dominate the cell therapy technologies market during the forecast period

The 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 dominate the market in 2018 owing to the high burden of chronic diseases and increasing R&D activities in the pharmaceutical and biotechnology industries. The Asia Pacific region is expected to register the highest CAGR during the forecast period. The increasing demand for cell therapy instruments and products from China, India, and Japan primarily due to the increasing research funding for vaccine development and changing disease profiles is supporting the growth of the market in the Asia Pacific.

Key Market Players

Key players in this cell therapy technologies 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).

Thermo Fisher was the largest player in the cell therapy technologies market in 2017. In order to maintain its position in the market and further expand its product portfolio, the company focuses on the strategies of product launches, acquisitions, and expansions. Merck holds the second position in the market. The company focuses on collaborations, agreements, and acquisitions to enhance its market position.

Recent Developments:

In 2018, Thermo Fisher Scientific launched a new series of compact refrigerators.

In 2018, Thermo Fisher Scientific launched an advanced laboratory management system for data integrity and complete regulatory compliance.

In 2018, Lonza opened its Collaborative Innovation Center in Haifa, Israel.

In 2018, Sartorius will offer current and future Lonza media and buffers on a non-exclusive basis as part of its extensive portfolio of products for cell-based development and manufacturing.

In 2017, GE Healthcare acquired Asymptote (UK) in order to strengthen its cell therapy portfolio with a suite of technologies for the cryopreservation of cellular materials.

Key Questions Addressed in the Report:

What are the growth opportunities related to cell therapy instruments across major regions in the future?

Emerging countries have immense opportunities for the growth and adoption of cell therapy instruments products. Will this scenario continue in the next five years?

Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?

What are the various products related to cell therapy and their market share in the overall cell therapy technologies market?

What are the new trends and advancements in the market?

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