The global cell therapy technologies market is projected to reach USD 8.0 billion by 2027 from USD 4.0 billion in 2022, at a CAGR of 14.6% during the forecast period. Market growth is driven mainly by increasing research in regenerative medicine along with stem cell research, cancer research, and cell biology research.
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This study involved four major activities in estimating the current size of the cell therapy technologies market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
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.
Dearth of skilled labor
Despite technological innovation and product development over the last decade, the market has been affected by the lack of a trained workforce to operate complex instruments. According to a research study carried out by the Gatsby Foundation, by 2030, the UK will require a further 700,000 technicians to support the economy. The shortage of skilled professionals is one of the key factors limiting the adoption and utilization of cell therapy technologies in several countries across the globe.
Emergence of iPSCs as alternatives to ESCs
iPSCs can be used for various applications, including the development of regenerative medicine and drug discovery (such as disease modeling and cytotoxicity studies), thus reducing the overall cost of clinical trials. The use of iPSCs for stem cell therapy allows for the generation of pluripotent cells that are identical to the patient’s genetic map.
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The Asia Pacific region is the fastest-growing region of the cell therapy technologies market
The Asia Pacific is estimated to be the fastest-growing segment of the market. The growth of the cell therapy technologies market of the region is mostly driven by their low labor and manufacturing costs, which has drawn huge investments by biopharma giants to these countries.
Key Market Players
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).
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