Global Cell Therapy Technologies Market to Grow by a CAGR of 13.6% During 2021-2030 and Reach a Revenue of USD 45754.6 Million by 2030; Growing Prevalence of Chronic Diseases Worldwide to Drive Market Growth
New York, Jan. 06, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Health Organization (WHO), in the year 2020, deaths caused due to cancer registered close to 10 Million. Moreover, amongst the new cases of cancer registered in the year 2020, breast cancer registered to be the most common cancer with 2.26 Million cases, followed by lung and colon & rectum cancer with 2.21 and 1.93 Million cases respectively.
Kenneth Research has recently released a report on “Cell Therapy Technologies Market: Global Demand Analysis & Opportunity Outlook 2020-2030” which includes a detailed analysis of the key players operating in the market, along with the latest market trends, and the factors that are projected to drive the growth of the market in the coming years. Moreover, the report also includes the impact of COVID-19 on the market growth, and the strategies taken by the players to sustain the negative impact of the pandemic.
The concern for chronic diseases, such as cancer, diabetes, and others, is increasing at a steady pace around the globe. For instance, according to the statistics by the United States Centers for Disease Control and Prevention (CDC), in the United States, out of 10 adults, 6 adults have a chronic disease, whereas 4 out of 10 adults had two or more such diseases. As a result, there is a growing demand amongst healthcare providers for different cellular therapies, such as blood transfusions, immune cell therapy, and stem cell therapy among others. For instance, according to the statistics by The American National Red Cross, each year in the United States, around 21 Million blood components are transfused. Moreover, according to the statistics by the Health Resources & Services Administration (HSRA), in the United States during the year 2018, 4992 unrelated and 4275 related bone marrow and cord blood transplants were performed.
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The global cell therapy technologies market garnered a revenue of USD 12902.1 Million in the year 2020 and is further expected to touch USD 45754.6 Million by the end of 2030, by growing with a CAGR of 13.6% during the forecast period. The growth of the market can also be credited to the increasing ongoing research and advancements in the development of different cell therapy technologies. For instance, according to the clinical trials portal of the U.S. National Library of Medicine, a total of 100 studies were currently active for studies related to CAR T-cell therapy. Moreover, out of the 949 total studies registered to date in the portal, only 51 studies related to the subject were completed.
The global cell therapy technologies market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Amongst the market in these regions, the market in North America registered the largest revenue of USD 5848.5 Million in the year 2020 and is further projected to reach USD 19957.2 Million by the end of 2030. The market in the region is further segmented by country into the United States and Canada. Out of these, the market in the United States is expected to garner the largest revenue by the end of 2030, while the market in Canada is expected to grow with the highest CAGR of 13.3% during the forecast period.
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Moreover, the cell therapy technologies market in Europe registerd the second-highest revenue of USD 3380.4 Million in the year 2020 and is further expected to reach USD 12448.8 Million by the end of 2030. The market in the region is further segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, Netherland, and the Rest of Europe. Amongst the market in these nations, the market in Germany registered the largest revenue of USD 618.6 Million in the year 2020 and is further projected to reach USD 2405.8 Million by the end of 2030.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global cell therapy technologies market is segmented by product into consumables, system & software, and equipment. Amongst these segments, the consumables segment registered the largest revenue of USD 5163.6 Million in the year 2020 and is further expected to reach USD 17892.6 Million by the end of 2030. In North America, the segment registered a revenue of USD 2416.0 Million in the year 2020 and is further projected to display the largest revenue of USD 7982.9 Million by the end of 2030. On the other hand, in Europe, the segment is projected to garner the largest revenue of USD 4655.8 Million by the end of 2030, up from a revenue of USD 1296.0 Million in the year 2020.
The global cell therapy technologies market is further segmented by process into process monitoring & quality control, cell processing, and cell preservation, distribution & handling. Amongst these segments, the cell processing segment registered the largest revenue of USD 5967.0 Million in the year 2020 and is further expected to reach USD 20663.3 Million by the end of 2030. In North America, the segment is expected to reach USD 9379.9 Million by the end of 2030, up from a revenue of USD 2783.9 Million in the year 2020. Moreover, in the Asia Pacific, the segment is projected to display the largest revenue of USD 4081.4 Million by the end of 2030.
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The global cell therapy technologies market is also segmented on the basis of cell type, and by end-user.
Global Cell Therapy Technologies Market, Segmentation by Cell Type
Global Cell Therapy Technologies Market, Segmentation by End-User
Some of the prominent industry leaders in the global cell therapy technologies market that are included in our report are Lonza Group Ltd., Sartorius AG, Danaher Corporation, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Avantor, Inc., Eppendorf SE, Miltenyi Biotec B.V. & Co. KG, and others.
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