Cell Therapy Technologies Market: Overview
Cell therapy, also called as cytotherapy or cellular therapy is a form of biotherapy used to develop drugs and therapeutic strategies based on cells. This therapy refers to the biological activities carried out by cells that would lead to a desired effect either in vivo or in vitro. In the recent years, a growing number and range of suitable cell types for external administration have been determined. These cells have shown positive healing ability in animal-based experiments for numerous diseases. In cell therapy, cell suspensions enter into an organ or tissue or the blood stream with the possibility that these cells would be able to heal any injury.
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The report on the global cell therapy technologies market offers insightful information for the forecast period of 2019 to 2027. This report tries to map all the important trends, drivers, technologies, and developments that are influencing the growth of the cell therapy technologies market.
Global Cell Therapy Technologies Market: Notable Developments
Some of the key development in the global cell therapy technologies market are listed as follows:
- In 2017, Asymptote (UK) was taken over by GE Healthcare. The idea behind the acquisition was to bolster its existing cell therapy portfolio with the help of new technologies for cellular materials’ cryopreservation.
- On June 26, 2019, Sartorius have opened its manufacturing operations site in Yauco, Puerto Rico. The site cost investments up to US$100 million. The target of the new site to primarily cater to the needs of the US market given that the company has been developing its presence in the US market over the last few years.
- Industry player Gamida is expected to continue its manufacturing deal with another industry giant Lonza for the potential commercial production of its cytotherapy, omidubicel. The cell product developed by Gamida is not yet fully approved by any national regulatory body. However, it currently has a Phase III trial to test its use for the treatment of hematological malignancies.
- In 2018, Thermo Fisher Scientific, a leading player in the global cell therapy technologies market launched a brand new series of compact refrigerators. Additionally, the company also unveiled a high-tech lab management system to secure data integrity and comply with regulatory guidelines.
Some of the key players in the global cell therapy technologies market include names such as Terumo BCT(US), STEMCELL Technologies Inc. (Canada), Thermo Fisher Scientific (US), Beckman Coulter (US), Lonza (Switzerland), Mitenyi Biotec (Germany), Merck KGaA (Germany), and GE Healthcare among others.
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Global Cell Therapy Technologies Market: Drivers and Restraints
Given below are some of the key driving reasons for the growth of the global cell therapy technologies market in the coming forecast period:
- Better Infrastructure: Rise in number of GMP-certified manufacturing facilities and growth in the number of cell-based therapy clinical trials are also some of the key driving factors for the growth of the global cell therapy technologies market.
- Opportunities in Emerging Economies: Emerging economies such as India, Kore, Brazil, and China, are presenting increasing opportunities for the use of cell therapy technologies. The regulations are comparatively lenient than the established economies.
On the other hand, high-cost associated to develop new cell therapy technologies is expected to slow down the growth of the market. However, government and regulatory bodies across the globe are now allotting heavy funds for developing new cell therapy technologies. This growth in funding and investments will help in driving the growth of the cell therapy technologies market in the coming years.
Global Cell Therapy Technologies Market: Regional Outlook
The global cell therapy technologies market is segmented into five key segments such as North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Of these, the cell therapy technologies market is currently dominated by North America whereas Asia Pacific is expected to grow at a significant pace over the course of the given forecast period.