Cell Therapy Instruments Market: Introduction
• Cell therapy is a process of injecting, grafting, or implanting viable cells into a patient in order to effectuate a medicinal effect. The therapy is primarily used for cancer, infectious diseases, urinary problems, and autoimmune diseases. Additionally, it is helpful in repairing spinal cord injuries, rebuilding damaged cartilage in joints, improving a weakened immune system, and improving patients with neurological disorders.
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Key Drivers and Opportunities of Global Cell Therapy Instruments Market
• Life science is one of the fastest growing industries, in which technology combines with life science. Recent technological and scientific advantages with adoption of newer technologies and expansion in emerging markets drive the life science industry. Moreover, advancement in the life science industry with standardized workflow to enhance productivity and quality is projected to boost the growth of the industry.
• Change in lifestyle and dietary habits leads to various chronic diseases. Hence, surge in number of patients with chronic diseases is anticipated to drive the global cell therapy instruments market. According to the Centers for Disease Control and Prevention, in the U.S., 51.8% of civilians were diagnosed with at least 1 of 10 selected chronic conditions in 2018.
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• Moreover, rise in awareness and government initiatives to keep the country safe from diseases are expected to boost research activities. This in turn is likely to fuel the growth of the global cell therapy instruments market.
• Governments in developing countries are making significant investments toward modernization of health care infrastructure and life science industries, which is likely to increase access to health care. This is projected to boost demand for advanced technologies. For instance, in February 2020, the Global Institute of Stem Cell Therapy and Research (GIOSTAR) announced the opening of a new stem cell / cancer research and therapy center in India.
• Key players emphasize on investing in the emerging markets to strengthen geographic reach, enhance product portfolio, expand the product reach, and consolidate their position in the market
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North America to Dominate Global Cell Therapy Instruments Market
• In terms of region, the global cell therapy instruments market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global cell therapy instruments market during the forecast period. Hub for key players and early adoption of advanced technologies are the factors fueling the growth of the market in the region.
• The cell therapy instruments market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to surge in geriatric population
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Key Players Operating in Global Cell Therapy Instruments Market
The global cell therapy instruments market is fragmented with the presence of international as well as local players. A large number of manufacturers hold major share in their respective regions. Demand for cell therapy instruments has increased in emerging as well as developed markets owing to rise in awareness about technologically advanced products. Growth strategies adopted by leading players are likely to drive the global market.
Key players operating in the global cell therapy instruments market are:
• ThermoFisher Scientific
• Cytiva
• Takara Bio, Inc.
• STEMCELL Technologies
• MERCK KGaA
• BD
• Sartorius AG
• Danaher Corporation
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