The emerging economies such as Australia and China are expected to provide a wide range of growth opportunities for players in the market which is driven by their large and growing populations as well as increase in the number of clinical trials and investments in the field of personalized medicine in these countries.
[ 173 Pages Report] The cell therapy technologies market is projected to reach USD 5.6 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 14.4% from 2020 to 2025.
COVID -19 Impact on the Cell Therapy Technologies Market
The outbreak of COVID-19 is expected to have a minimal or negligible negative impact on the cell therapy technologies market. The rise in the incidences of COVID has led to an increase in the need for an efficient drug or vaccine for COVID, which could help in reducing the severity of the cases. Cell-based research is an essential step during the manufacturing of vaccines, which can help in the growth of the market.
Market Dynamics
- Rising government investments in cell-based research
- Rising incidence of chronic and infectious diseases
- Large number of oncology-related cell therapy clinical trials
- Increasing GMP certifications for cell therapy production facilities
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=213334978
Precision medicine is an evolving approach for disease treatment and prevention, which takes into account individual variability in genes, environments, and lifestyles. Precision medicine involves the selection of drugs wholly tailored to a patient based on disease condition and history. Although this practice is expanding into all disease areas, oncology has seen the most progress.
The geographical regions mapped in the report are:
- North America
- Europe
- Asia-Pacific
- RoW
On the basis of region, the cell therapy technologies market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2019, North America commanded the largest share of the cell therapy technologies market. The large share of this market segment can be attributed to the increasing incidence of CVD, increasing healthcare expenditure, growing disposable income, growing healthcare awareness, and the availability of technologically advanced devices in the region.
Request for sample pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=213334978
Rising government investments in cell-based research
The need for newer, better therapies for diseases such as cancer and CVD has resulted in an overall increase in research activity, as well as the availability of funding for cell-based research. In November 2019, the Australian government released a 10-year roadmap for stem cell research in Australia—The Stem Cell Therapies Mission. The initiative would provide USD 102 million (AU$150 million) under the Medical Research Future Fund (MRFF) to support stem cell research to deliver new therapies.
