Cell Therapy Technology Market
By Cell Type (T-Cell, Stem Cell [Bone Marrow, Umbilical Cord Derived, Blood, Others], and Others),
By Therapy (Autologous Therapies and Allogeneic Therapies),
By Therapeutic Area (Malignancies, Musculoskeletal Disorders, Dermatology, and Others)
By Technology (Viral Vector Technology, Genome Editing Technology, Somatic Cell Technology, and Cell Immortalization Technology),
By End Use (Hospitals and Clinics, Educational and Research Institutes and Diagnostic and Regenerative medicine centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa)
Global Analysis and Forecast 2023-2033
The global Cell Therapy Technology Market to worth more than USD 22 billion by 2033.
The rise in chronic disorders and cancer, coupled with increased research in the genetic and biotechnological field, is the primary factor boosting the growth of cell Therapy technology. The market is expanding with more research and studies exploring ways to treat various chronic conditions. Cell therapy has found its way to cosmetic, Dermatology, and even neurological conditions. Continuous efforts to improve technology, such as gene editing or somatic cell technology, are making way for the treatment of various malignant and non-malignant conditions. Recently, a path-breaking research study conducted by scientists from Northwestern University concluded with synthetically created matured neurons that are key to treating various neurological conditions, such as Alzheimer's and even Multiple sclerosis. Similarly, the EU granted permission for a "FORCE REPAIR" Regenerative technology that can treat chronic wounds. Further, recent studies are also increasingly focusing on CAR-T technology for cancer treatment. Various technological advances in CAR-T technology are making way for more market opportunities.
The companies operating within the Cell therapy technology industry are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, Editas Medicine and Shoreline Biosciences entered into a definitive agreement for Shoreline to acquire Editas' iNK Cell franchise and related gene editing technologies. Furthermore, notable investment towards research and development to launch new and innovative products that support treatment at multiple levels is also practiced by industry stakeholders.
According to the CXOs and primary research conducted, COVID-19 is also responsible for the boost in cell therapy technology. COVID-19 created a surge in viral vector technology for vaccine formulation. It also sought possibilities of plasma transfer from recovered patients in order to transfer immune cells or antibodies into infected patients. This was an outcome of rigorous research carried out in genetics and the biotechnological field. COVID-19 also triggered more chronic disorders, creating a surge for better treatment requirements. Post-pandemic development in cell therapy increasingly focuses on cancer treatment and making its way into advanced oncology sciences.
The Cell therapy technology market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Rise in research and studies, support by authorities and introduction of GMP, Rising concern towards integration of AI with Cell therapy technologies, and the presence of major industry players within the region are primary factors supporting market potential within the North American region. The major companies operating within the market are Avantor, Inc., Becton, Dickinson, and Company, Danaher Corporation, Fresenius Medical Care AG & Co. KGaA, FUJIFILM Irvine Scientific, Merck KGaA, MaxCyte, Thermo Fisher Scientific Inc. and Terumo BCT.