The growth of the cell therapy processing market is attributed to increase in the incidence of cardiovascular diseases. Furthermore, rise in the demand for chimeric antigen receptor (CAR) t cell therapy, and increase in the development of stem cell therapy approaches globe are the other factors that contribute to the growth of the cell therapy processing market.
Cell Therapy Processing Market by Offering Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the cell therapy processing market size was valued at $1,695 million in 2018, and is projected to reach $12,062 million by 2026, growing at a CAGR of 27.8% from 2019 to 2026.
Leading market players
Invitrx Inc.
Cell Therapies Pty Ltd
Lonza Ltd
Merck & Co., Inc (FloDesign Sonics)
NantWorks, LLC
Neurogeneration, Inc.
Novartis AG
Plasticell Ltd.
Regeneus Ltd
StemGenex, Inc.
The key factors that drive, hamper, or provide opportunities to the market are provided in the report
Competitive landscape of the industry along with the profile analysis of market players is provided in the report
Increase in the incidence of cardiovascular diseases and surge in the demand for chimeric antigen receptor (CAR) cell therapy propel the global cell therapy processing market. However, poor demand from underdeveloped countries hinders the market growth. On the other hand, emerging markets are expected offer lucrative opportunities in the near future.
North America to maintain its dominance during the forecast period
Based on region, North America accounted for the highest market share in terms of revenue, accounting for nearly two-fifths of the global cell therapy processing market in 2018, and is estimated to maintain its dominance during the forecast period. This is attributed to presence of well-established healthcare infrastructure, higher buying power, and surge adoption of advanced medical therapies. In addition, rise in prevalence of osteoporosis coupled with surge in geriatric population fuels the growth of the market in this region. Moreover, Asia-Pacific is expected to maintain the highest CAGR of 29.0% from 2019 to 2026, owing to presence of huge patient base, increase in research and development expenditure, and surge in usage of cell therapy processing products.
The products segment to maintain its leadership position by 2026
Based on offering type, the products segment contributed to more than four-fifths of the total share of the global cell therapy processing market in 2018 and is expected to maintain its leadership position throughout the forecast period. This is due to the extensive use of consumable & disposable products, rise in demand for CQA- & QbD-based products, and increase in adoption of single-use bioreactors for the production of modified cell lines. However, the software segment would portray the highest CAGR of 30.5% from 2019 to 2026. An efficient software solution can help companies in pharmaceutical and medical devices to comply with regulatory standards, which drives the growth of the segment.
Read More: https://www.openpr.com/news/2167447/cell-therapy-processing-market-to-reach-12-06-million-with-top
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