New York, Oct. 21, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Cell Therapy Instruments Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Product ; Cell Type ; Process ; End User, and Geography” – https://www.reportlinker.com/p05978058/?utm_source=GNW
On the other hand, high cost of cell therapy production and cell therapy are expected to hinder market growth.
The growing advancements in biotechnology have led to the introduction of personalized treatments for people suffering from various health conditions.For instance, stem cell and immune cell therapies are preferred to treat chronic diseases such as cancer, diabetes, neurological disorders, and genetic disorders.
Further, the cell therapy advantages, such as targeted treatment, faster and efficient recovery, and reduced side effectspromote the launch of various products in the market, thereby increasing the production volume.
In North America and Europe, cell therapies are widely adopted owing to the availability of the US Food and Drug Administration (FDA) approved products in the market.For instance, in April 2020, FDA awarded regenerative medicine advanced therapy (RMAT) designation to Novartis’ Kymriah (tisagenlecleucel) to treat refractory (r/r) follicular lymphoma (FL) in adults.
The company claims that the therapy has the potential to treat acute lymphoblastic leukemia (ALL) and r/r adult diffuses large B-cell lymphoma (DLBCL) in children and young adults.
Similarly, in October 2017, Kite, a Gilead, received an approval from FDA for its Yescarta, the first chimeric antigen receptor T cell (CAR T) therapy that treats refractory large B-cell lymphoma after two or more steps of systemic therapy in adults. In June 2020, the company announced the opening of a manufacturing hub in Amsterdam after it received an approval from the European Medicines Agency (EMA).
There are several ongoing clinical trials for cell therapies; thus, to commercialize cell therapy products to the masses, manufacturers need to increase their production capacity.Various market players such as ThermoFisher Scientific Inc, Cytiva, Danaher Corporation, and Lonza are offering laboratory instruments.
Also, the rising demand for cell therapies have attracted biotechnology startups to enter the cell therapy domain. Thus, various biopharmaceutical companies and startups have increased their production, which has eventually increased the demand for cell therapy instruments.
Based on product, the cell therapy instrumentmarket is segmented into the consumables, equipment, systems, and software.In 2019, the consumables segment accounted for the highest share of the market.
The growth of the segment is attributed to the rising research activities that demand reagents, kits, and lab wares in higher quantity.Also, the increased production for commercialization has influenced the market for the consumables segments.
Additionally, the rising adoption of cell therapy has increased the demand for storage consumables to supply and distribute it to the desired places.
Based on cell type, the cell therapy instrumentsmarket is segmented into human cells and animal cells.The human cells segment held a larger share of the market in 2019, and is estimated to register a higher CAGR in the market during the forecast period.
The growth of segment is determined to growing research based on human cells to derived personalized medicines as the genetic makeup of a patient, and growing product developments for the human cells.
Based on process, the cell therapy instrumentsmarket is segmented into cell processing, process monitoring and quality control, and cell preservation, distribution, and handling. The cell processing segment held the largest share of the market in 2019, and is estimated to register the highest CAGR in the market during the forecast period.
Based on end user, the cell therapy instruments market is segmented into research institutes, life science research companies, and other end users. The life science research companies segment held the largest share of the market in 2019, and same segment is estimated to register the highest CAGR of 14.0% in the market during the forecast period.
The Food and Drug Administration, European Medicines Agency, Italian Medicines Agency, The Global Burden of Disease Study, American Society of Gene & Cell Therapy, and Ministry of Health and Preventionare among the major secondary sources referred for preparing this report.
Read the full report: https://www.reportlinker.com/p05978058/?utm_source=GNW
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