Cell
Therapy Technologies Market: Introduction
·
Cell therapy, also called 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 past few 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.
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Key
Drivers, Restrains, and Opportunities of Global Cell Therapy Technologies
Market
·
The global cell therapy technologies market
is projected to witness strong growth in the next few years. Increase in mergers
and acquisitions among the key players drives the global cell therapy
technologies market during the forecast period. For instance, GE Healthcare
acquired Asymptote (UK) in 2017. The acquisition bolstered GE Healthcare's
existing cell therapy portfolio with the help of new technologies for cellular
materials’ cryopreservation.
·
Focus of key players on increasing
manufacturing units boosts the growth of the global cell therapy technologies
market during the forecast period. On June 26, 2019, Sartorius opened its
manufacturing operations site in Yauco, Puerto Rico. The site cost investment
of up to US$ 100 Mn. The objective of the new site is to cater to the needs of
the U.S. market given that the company has been expanding its presence in the
U.S. in the past few years.
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·
On June 19, 2019, Gamida Cell Ltd. and
Lonza entered into a strategic manufacturing agreement for 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. Better infrastructure, rise in number of GMP-certified
manufacturing facilities, and rise in the number of cell-based therapy clinical
trials are likely to fuel the growth of the global cell therapy technologies
market.
·
Presently, the world is struggling with the
COVID-19 pandemic. This infection leads to pneumonia, severe & acute
respiratory disorders, multiple organ failure, and, in severe cases, death. The
market has experienced growth during the pandemic due to rise in demand for
cell therapy technologies across the globe.
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·
Governments of developing countries are
making significant investments to modernize health care infrastructure in their
respective countries, which is likely to increase access to health care. This
is expected to drive the demand for cell therapy technologies.
·
However, high cost associated with
development of new cell therapy technologies is likely to hamper the growth of
the global market. However, government and regulatory bodies across the globe
are allotting significant funds for the development of new cell therapy
technologies. This is likely to boost the growth of the global cell therapy
technologies market in the next few years.
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North
America to Capture Major Share of Global Cell Therapy Technologies Market
·
In terms of region, the global cell therapy
technologies market can be segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America is projected to be a
major market during the forecast period. This is due to considerable rise in
research & development activities. Moreover, advancements in the health
care sector have led to the development of new technologies and equipment,
which is anticipated to propel the market in the region. Furthermore, presence
of leading companies and early access to latest & emerging technologies are
attributed to North America's dominance of the global market in the next few
years.
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·
The market in Asia Pacific is projected to
witness strong growth in the next few years. The region is anticipated to offer
considerable opportunities for leading companies operating across the globe.
This is expected to augment the market in the region. Emerging economies such
as India, South Korea, Brazil, and China present significant opportunities in
the cell therapy technologies market. Regulations are comparatively lenient in
these countries than the developed countries. These factors are likely to
propel the cell therapy technologies market in Asia Pacific in the next few
years.
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