Cell Therapy Technologies Market: Overview
Cell therapy, also called as cytotherapy or cellular therapy is a form of biotherapy used to develop drugs and therapeutic strategies based on cells. This therapy refers to the biological activities carried out by cells that would lead to a desired effect either in vivo or in vitro. In the recent years, a growing number and range of suitable cell types for external administration have been determined. These cells have shown positive healing ability in animal-based experiments for numerous diseases. In cell therapy, cell suspensions enter into an organ or tissue or the blood stream with the possibility that these cells would be able to heal any injury.
The report on the global cell therapy technologies market offers insightful information for the forecast period of 2019 to 2027. This report tries to map all the important trends, drivers, technologies, and developments that are influencing the growth of the cell therapy technologies market.
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Global Cell Therapy Technologies Market: Notable Developments
Some of the key development in the global cell therapy technologies market are listed as follows:
- In 2017, Asymptote (UK) was taken over by GE Healthcare. The idea behind the acquisition was to bolster its existing cell therapy portfolio with the help of new technologies for cellular materials’ cryopreservation.
- On June 26, 2019, Sartorius have opened its manufacturing operations site in Yauco, Puerto Rico. The site cost investments up to US$100 million. The target of the new site to primarily cater to the needs of the US market given that the company has been developing its presence in the US market over the last few years.
- Industry player Gamida is expected to continue its manufacturing deal with another industry giant Lonza for the potential commercial production of its cytotherapy, omidubicel. The cell product developed by Gamida is not yet fully approved by any national regulatory body. However, it currently has a Phase III trial to test its use for the treatment of hematological malignancies.
- In 2018, Thermo Fisher Scientific, a leading player in the global cell therapy technologies market launched a brand new series of compact refrigerators. Additionally, the company also unveiled a high-tech lab management system to secure data integrity and comply with regulatory guidelines.
Some of the key players in the global cell therapy technologies market include names such as Terumo BCT(US), STEMCELL Technologies Inc. (Canada), Thermo Fisher Scientific (US), Beckman Coulter (US), Lonza (Switzerland), Mitenyi Biotec (Germany), Merck KGaA (Germany), and GE Healthcare among others.
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Global Cell Therapy Technologies Market: Drivers and Restraints
Given below are some of the key driving reasons for the growth of the global cell therapy technologies market in the coming forecast period:
- Better Infrastructure: Rise in number of GMP-certified manufacturing facilities and growth in the number of cell-based therapy clinical trials are also some of the key driving factors for the growth of the global cell therapy technologies market.
- Opportunities in Emerging Economies: Emerging economies such as India, Kore, Brazil, and China, are presenting increasing opportunities for the use of cell therapy technologies. The regulations are comparatively lenient than the established economies.
On the other hand, high-cost associated to develop new cell therapy technologies is expected to slow down the growth of the market. However, government and regulatory bodies across the globe are now allotting heavy funds for developing new cell therapy technologies. This growth in funding and investments will help in driving the growth of the cell therapy technologies market in the coming years.
Global Cell Therapy Technologies Market: Regional Outlook
The global cell therapy technologies market is segmented into five key segments such as North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Of these, the cell therapy technologies market is currently dominated by North America whereas Asia Pacific is expected to grow at a significant pace over the course of the given forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.