Cell Therapy Technologies Market by Product, Cell Type, Process Stages & End User

The global Cell Therapy Technologies Market is projected to reach USD 19.9 billion by 2023 from USD 10.2 billion in 2018, at a CAGR of 14.4% during the forecast period. Rising government investments for cell-based research, the increasing number of GMP-certified production facilities, and the large number of oncology-oriented cell-based therapy clinical trials are the key factors driving the growth of this market.
China, India, Japan, Korea, and Brazil are emerging markets for cell therapy instruments. These markets boast comparatively lenient standards and government regulations as opposed to developed markets in North America and the EU, and thus offer significant growth potential for providers. However, the high cost of cell-based research and the low success rate is expected to restrain market growth to some extent during the forecast period.
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Recent Developments:

• In 2018, Thermo Fisher Scientific launched a new series of compact refrigerators.
• In 2018, Thermo Fisher Scientific launched an advanced laboratory management system for data integrity and complete regulatory compliance.
• In 2018, Lonza opened its Collaborative Innovation Center in Haifa, Israel.
• In 2018, Sartorius will offer current and future Lonza media and buffers on a non-exclusive basis as part of its extensive portfolio of products for cell-based development and manufacturing.
• In 2017, GE Healthcare acquired Asymptote (UK) in order to strengthen its cell therapy portfolio with a suite of technologies for the cryopreservation of cellular materials. 

Key Market Players

Key players in this market include Beckman Coulter (US), Becton, Dickinson and Company (US), GE Healthcare (US), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT (US), and Thermo Fisher Scientific (US).