Report : North America Cell Therapy Instruments Market Forecast to 2027 - COVID-19 Impact and Regional 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
Consumables segment by product is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “North America Cell Therapy Instruments Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Cell Type, Process, and End User,” The North America cell therapy instruments market was valued at US$ 5,546.84 million in 2019 and is projected to reach US$ 14,806.33 million by 2027; it is expected to grow at a CAGR of 13.4% during the forecast period. The report highlights trends prevailing in the North America cell therapy instruments market and the factors driving market along with those that act as hindrances.
Based on product, the North America 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 anticipated to register the highest CAGR in the market during the forecast period. Cell therapy involves 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.
Asia Pacific cell therapy instruments market is expected to grow due to factors such as the rise in cell therapy transplantation's, increasing numbers of research and development activities, and rising investments for building cell and gene therapy manufacturing plants. However, the high cost and low success rate of cell-based research are expected to restrain the market growth 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 North America cell therapy instruments market.
The report segments in North America Cell Therapy Instruments Market as follows:
By Cell Type
By End User