Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Cell Therapy Technologies Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
The Global Cell Therapy Technologies Market is expected to grow at a CAGR of around 14.3% from 2020 to 2027 and reach the market value of over US$ 6.5 Bn by 2027.
North America dominated the global Cell Therapy Technologies market. The largest share of this segment is attributed due to rising incidences of cardiovascular devices (CVD), rising healthcare expenditure, surge in healthcare awareness, and the availability of technologically advanced devices in North America regional market. Additionally, fast approval for the novel cell therapies, continuous development in the Cell Therapy Technologies, and a high acceptance ratio for novel developments are the factors that contribute to the fullest for regional growth of cell therapy technologies market.
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In November 2020, – American Gene Technologies (AGT) announced regarding first trail participant enrollment in the Phase 1 trial of AGT103-T, a new cell and gene therapy for HIV disease. The AGT103-T clinical trials are conducted at sites in the Washington, DC metropolitan area starting with the Washington Health Institute in the District of Columbia. AGT103-T is a genetically modified cell product made from a person’s cells. AGT’s approach is a unique process focusing on repairing the key immune system damage caused by HIV. AGT aims to develop a cell and gene therapy capable of repairing the immune system to offer natural control over HIV replication.
Asia Pacific will witness significant growth opportunities in the coming years. It is anticipated that APAC will register significant CAGR in the coming years. Factors that contribute for growth involves development of R&D sector with well equipped infrastructure, technological advancement in cell therapy processing, surge in healthcare reforms, and technological advancements in cell therapy processing. China is the highly populated country therefore, the region possesses high growth potential due to presence of huge patient base that bolster the growth of the regional market. Research and development (R&D) companies and healthcare institutions in China have a more transparent framework that follow to obtain regulatory approvals for C > therapies. Additionally, China has become the largest sponsor of clinical studies globally. Between 2017 and 2019, there were more than 80 international multicentre clinical studies initiated for cell therapy, where China was registered as global site.
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Market Drivers
Rising government investments in clinical cell based research drives the cell therapies technology market. In August 2017, the UK Government’s Industrial Strategy Challenge Fund significantly increases the current size and capability of the cell and gene therapy Catapult (CGT Catapult) large scale manufacturing center. As part of the US$ 236,999 Mn investment in the healthcare and life science sector, a US$144,436 Mn is awarded to scale up the cell and gene therapy manufacturing setup. Such factors bolster the growth of cell therapy technologies market globally.
Segmental Outlook
The cell therapy technologies market is based on the product, cell type, process, and end-user. By product, the cell therapy technologies market is segmented as consumables, equipment, and systems & software. By cell type, it is segregated as T-cells, stem cells, and other cells. Cell therapy technologies market by the process is segmented as cell processing, cell preservation, distribution and handling, and process monitoring, and quality control. End-user is further bifurcated into biopharmaceutical & biotechnology companies and contract research organizations (CROs) and research institutes and cell banks.
Competitive Landscape
Some of the leading competitors are Terumo BCT Inc., STEMCELL Technologies Inc., Thermo Fisher Scientific, Beckman Coulter, Lonza Group, Mitenyi Biotec, Merck Group, and GE Healthcare among others.
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Some of the key observations regarding Cell Therapy Technologies industry include:
- In August 2016, GE Healthcare announced agreement with STEMCELL Technologies Inc. to offer T-cell reagents for commercial scale cell therapy production. According to the agreement, GE Healthcare is planning to commercialize cGMP-grade versions of STEMCELL Technologies T-cell reagents for isolation, activation, and culture of T-cells in clinical applications. These reagents acts as a critical tool for the development and manufacturing of cell and gene therapies intended for administration to patients.
- In August 2020, Cipla Limited, announced partnership with Stempeutics Research Pvt. Ltd for launching of Stempeucel® in India. The product indicated for the treatment of Critical Limb Ischemia (CLI) owing to Buerger’s Disease and Atherosclerotic Peripheral Arterial Disease. It is recognized as the first allogeneic cell therapy product that is approved for commercial use in India and the first stem cell product to be approved worldwide for CLI treatment.
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