DELRAY BEACH, Fla., Jan. 8, 2025 -- The global Cell Therapy Technologies market, valued at US$3.89 billion in 2023, is forecasted to grow at a robust CAGR of 11.0%, reaching US$4.03 billion in 2024 and an impressive US$6.80 billion by 2029. The major factors contributing to the growth of the cell therapy technologies market include the increased funding and investment in cell therapy and advancements in gene editing technologies. Furthermore, the growing adoption of automation in manufacturing processes enhance efficiency and scalability and regulatory support for fast-tracking therapies in the market is likely to drive market adoption in the coming years.
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The product segment is segmented into media, sera, and reagents; cell engineering products; cell culture vessels; cell therapy equipment; systems & software; and other products. media, sera, and reagents cell therapy technologies segment dominated product segments owing to various factors such as high demand for growth factors and media in cell-based experiments and cancer research. The cell therapy equipment segment is anticipated to grow at a significant CAGR owing to the higher adoption and frequent use of cell processing equipment in biopharmaceutical companies and research institutes.
The market of cell therapy technologies has been segmented based on process such as cell-making, cell preserving, cell distribution, cell handling, and process monitoring & quality control. In the year 2023, the highest market revenue share in cell therapy technologies acquired by cell processing, which is largely due to the increasing demand for cell-based therapies and emerging technologies in automated bioreactors and gene editing instruments which need solutions for scalable production and GMP compliance. Additionally, cell preservation is also rapidly gaining market share because of the widespread adoption of stem cell therapies, CAR-T cell therapies, and other regenerative treatments that are advancing cryopreservation technology. This factor contributes to the growth of the cell preservation segment.
Based on the cell type, the market is divided into T-cells, stem cells, and other cells. The T cells dominated the market in 2023 owing to supportive government initiatives for cell-based therapies, the increasing demand for T-cell therapies. Stem cells segment is likely to grow at significant pace owing to rising awareness regarding the use of stem cells in the treatment of various diseases and the growing focus on stem cell research.
The application segment is segmented into cancer, cardiovascular disease (CVD), orthopedic disorders, autoimmune diseases, and other applications. The cancer application segment dominated application segment in 2023. An increased demand for T-cell therapies and the rising incidence of cancer diseases are supposed to contribute to the growth of this market.
The end-user market is categorized into the biopharmaceutical & biotechnology companies, CROs & CMOs, research institutes, and cell banks. The biopharmaceutical & biotechnology companies dominated the segment in 2023; the CROs & CMOs are likely to grow at a significant CAGR. Increased funding for CROs and CDMOs and increased collaboration between CROs, CMOs, and pharmaceutical & biotech companies contribute to the growth of end user market.
The cell therapy technologies market is split into several regions, such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, North America held the largest market share. Moreover, the Asia Pacific region is projected to experience the fastest growth, with a notable compound annual growth rate (CAGR) expected over the forecast period. The growth of the Asia Pacific region is attributable to the large and aging population, coupled with a rising prevalence of chronic and degenerative diseases, creating significant demand for innovative treatments. Furthermore, increasing number of collaborations between local and global biotech firms fueling the growth of market.
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The market for cell therapy technologies market is consolidated. Prominent players in the cell therapy technologies market are Danaher Corporation (US), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), Lonza (Switzerland), Sartorius AG (Germany), Agilent Technologies Inc. (US), Avantor, Inc. (US), Bio-Techne (US), Avantor, Inc. (US), Fresenius SE & Co KGAA (Germany), BD (US), Corning Incorporated (US) and among others.
Danaher Corporation is among the leading companies in cell therapy technologies. The company has evolved as one of the greatest companies in the biotechnology market due to its acquisition of Pall Corporation for USD 13.8 billion in August 2015 and Biopharma business (Cytiva) of GE Healthcare for USD 21 billion in March 2020. The company is aggressive toward strategic alliances, mergers, and new product development. For example, Cytiva recently launched three new cell lines under the brand ELEVECTA in April 2024, with which to face the challenges and growing demand for viral vector manufacturing.
Merck KGaA is also one of the leading firms in cell therapy technologies market. The company operates in the cell therapy technologies market through its life science business segment. The company's leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. For instance, in August 2024, Merck KGaA acquired Mirus Bio (US) to advance Merck's integrated offering for viral vector manufacturing.
Thermo Fisher Scientific Inc. is one of the leaders in cell therapy technologies. The company has a broad portfolio of products. Among the major strengths of the diversified product offerings include strong geographic presence, organic and inorganic growth strategies, and commitment towards launching new solutions in the market which further helps it to hold its ground. For example, in June 2024, Thermo Fisher launched the Thermo Scientific Heracell VIOS 250i AxD CO2 Incubators to offer innovative features compatible to help gear toward emerging automated cell therapy production processes.
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