The growth of this market is driven by the rising government investments in cell-based research, increasing incidence of chronic and infectious diseases, a large number of oncology-related cell therapy clinical trials, and increasing GMP certifications for cell therapy production facilities. The emerging economies such as Australia and China are expected to provide a wide range of growth opportunities for players in the market which is driven by their large and growing populations as well as increase in the number of clinical trials and investments in the field of personalized medicine in these countries. 

The cell therapy technologies market is projected to reach USD 5.6 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 14.4% from 2020 to 2025.  

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Market Dynamics 

DRIVER: Rising government investments in cell-based research 

The need for newer, better therapies for diseases such as cancer and CVD has resulted in an overall increase in research activity, as well as the availability of funding for cell-based research. In November 2019, the Australian government released a 10-year roadmap for stem cell research in Australia—The Stem Cell Therapies Mission. The initiative would provide USD 102 million (AU$150 million) under the Medical Research Future Fund (MRFF) to support stem cell research to deliver new therapies. Similarly, in September 2019, Innovate UK, the UK’s innovation agency, awarded a funding of USD 269,670 (GBP 267,000) to develop gel stabilization technologies, developed by Atelerix, with the first objective of extending the shelf-life of Rexgenero's cell-based therapies for storage and transport at room temperature. 

RESTRAINTS: Dearth of skilled professionals 

Despite technological innovation and product development over the last decade, the market has been affected by the lack of a trained workforce to operate complex instruments, such as flow cytometers and multi-mode readers. Technologically advanced and highly complex flow cytometers and spectrophotometers generate a wide array of data outputs that require expertise for interpreting and reviewing. However, there is a demand-supply gap for skilled professionals worldwide, according to the National Accrediting Agency for Clinical Laboratory Sciences (NAACLS).  

OPPORTUNITY: Increased focus on personalized medicine 

Precision medicine is an evolving approach for disease treatment and prevention, which takes into account individual variability in genes, environments, and lifestyles. Precision medicine involves the selection of drugs wholly tailored to a patient based on disease condition and history. Although this practice is expanding into all disease areas, oncology has seen the most progress. 

Precision medicine offers a new paradigm in oncology, where a patient receives personalized treatment. This approach to disease diagnosis, treatment, and prevention utilizes a universal view of patients—from their genes and their environment to their lifestyle—to make more accurate decisions. 

“North America commanded the largest share of the cell therapy technologies market in 2020.” 

On the basis of region, the cell therapy technologies market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the cell therapy technologies market. The large share of this market segment can be attributed to the increasing incidence of CVD, increasing healthcare expenditure, growing disposable income, growing healthcare awareness, and the availability of technologically advanced devices in the region. 

The major players operating in this market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany). MaxCyte (US), Danaher Corporation (US), and Becton, Dickinson and Company (US), Lonza Group (Switzerland), Sartorius AG (Germany), Terumo BCT (US), Fresenius Medical Care AG Co. KGaA (Germany), Avantor, Inc. (US), Bio-Techne Corporation (US), Corning Incorporated (US), FUJIFILM Irvine Scientific (US), MaxCyte (US), Werum IT Solutions GmbH (Germany), RoosterBio Inc. (US), SIRION Biotech GmbH (Germany), CellGenix GmbH (Germany), L7 Informatics, Inc. (US), Miltenyi Biotec GmbH (Germany), STEMCELL Technologies (Canada), Hemasoft (US), MAK-SYSTEM (US), OrganaBio, LLC (US), IxCells Biotechnology (China), and Wilson Wolf Corporation (US). 

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