Report : Cell Therapy Instruments Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Consumables, Equipment, Systems and Software); Cell Type (Human Cells, and Animal Cells); Process (Cell Processing, Process Monitoring and Quality Control, Cell Preservation, Distribution, and Handling); End User (Research Institutes, Life Science Research Companies, and Other End Users), and Geography
Cell Therapy Instruments Market for Consumables by Product Segments is Expected to Grow at Highest CAGR During 2020–2027
According to our new market research study on "Cell Therapy Instruments Market to 2027 – Global Analysis and Forecast by Product, Cell Type, Process, and End User" the market is expected to reach US$ 32,477.15 million by 2027 from US$ 12,340.03 million in 2019. The market is estimated to grow with a CAGR of 13.2% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. The key driving growth factors for the market include increasing developments in cell therapy manufacturing and rising number of approvals for cell-based therapies; whereas, high cost of cell therapy production and cell therapy are expected to hinder market growth.
Based on the product, the cell therapy instruments market is segmented into consumables, equipment, systems, and software. In 2019, the consumables segment accounted for the highest share of the market. The growth of this segment is attributed to the rising research activities that demand reagents, kits, and lab wares in higher quantity. Also, the increased production of cell therapies 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.
Thermo Fisher Scientific Inc.; MERCK KGaA; Lonza; Cytiva (GE Healthcare Life Sciences); Terumo Corporation; BD; Miltenyi Biotec; STEMCELL Technologies Inc.; Sartorius AG; and Danaher Corporation (Beckman Coulter Inc.) are among the leading companies operating in the cell therapy instruments market. The companies have adopted inorganic and organic growth strategies to expand their global footprints, and product portfolio to meet the rising demand for the cell therapy products and services. For instance, in March 2019, Thermo Fisher Scientific Inc. acquired Brammer Bio, to expand the capabilities of Thermo Fisher Scientific Inc. to support high-growth in cell therapy market.
The report segments global cell therapy instruments market as follows:
By Cell Type
By End User