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Consumables segment by product is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “Europe Cell Therapy Instruments Market Forecast to 2027 - COVID-19 Impact and Analysis by Product, Cell Type, Process, and End User,” The Europe cell therapy instruments market was valued at US$ 3,611.93 Million in 2019 and is projected to reach US$ 9,350.17 Million by 2027; it is expected to grow at a CAGR of 13.0% during the forecast period.The report highlights trends prevailing in the Europe cell therapy instruments market and the factors driving market along with those that act as hindrances.
Based on product, the Europe cell therapy instruments market is further segmented into consumables, equipment, systems and software. The consumables segment held the largest share of the market in 2019, and is expected to register the highest CAGR in the market during the forecast period.
Cell therapy includes the administration of somatic cell preparations by injecting or grafting into the patient's body for the treatment of diseases or traumatic damages. Several instruments are utilized to carry out cell therapy to cure diabetes, neurological disorders, related injuries, some types of cancer, bones, and joints, and genetic disorders.
The increasing research and development in cell therapy have led to unique therapeutic products in cell therapy instruments to improve the immune system and efficiently treat genetic disorders. Various market players provide several consumables such as reagents kits and enzymes, and many companies offer devices, equipment, and software to conduct a wide range of cell therapy processes.
The use of equipment is essential for producing cell therapies such as NSC, PSC, MSC, T cells, and HSC. These cell therapy products are derived from animals or human cells and thus require safe conditions from contamination. Therefore, the instruments used for cell therapies help in preventing contamination and allows scaling up the transplantation.
Europe cell therapy instruments market is expected to grow due to factors such as increasing need for superior treatment solutions, favorable regulatory scenarios, and increasing focus on research and development activities. Additionally, developing healthcare infrastructure and increasing investments in order to boost the research activities are projected to drive the Europe cell therapy instruments market during the forecast period.
Thermo Fisher Scientific Inc., Lonza, Becton, Dickinson and Company, and General Electric Company are among the leading companies operating in the Europe cell therapy instruments market.