The Cell Therapy Technologies Market Is Expected To Grow With The Rise In Prevalence Of Cancer - By the Business Research Company

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Apr 06, 2023, 10:30 ET

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, April 6, 2023 /PRNewswire/ -- As per The Business Research Company's Cell Therapy Technologies Global Market Report 2023, the global cell therapy technologies market size will grow from $3.5 billion in 2022 to $4.2 billion in 2023 at a compound annual growth rate (CAGR) of 20%. The cell therapy market size is then expected to grow to $7.3 billion in 2027 at a CAGR of more than 14%.

The increased prevalence of cancer is expected to drive the cell therapy technologies market growth. Cell therapy uses living cells as drugs to treat disease. When used to treat cancer, cell therapy takes advantage of the immune system's intrinsic ability to seek out and destroy abnormal cells in the body. According to the International Agency for Research on Cancer, a France-based intergovernmental agency, by 2040, the number of new cancer cases per year is expected to rise to 29.5 million and the number of cancer-related deaths to 16.4 million. Therefore, the increase in the number of cases of cancer is expected to contribute to the growth of the cell therapy technologies market growth.

Learn More On The Cell Therapy Technologies Market Report – https://www.thebusinessresearchcompany.com/report/cell-therapy-technologies-global-market-report

The global cell therapy technologies market is concentrated, with a few large players. The top ten competitors in the market made up to 84.55% of the total market in 2021. Lonza Group AG was the largest competitor with 16.9% share of the cell therapy technologies market, followed by Thermo Fisher Scientific, Inc., Merck KGaA, Terumo Corporation, Danaher Corporation, Fresenius Medical Care AG & Co. KGaA, Fujifilm Holdings Corporation, Sartorius AG, Becton, Dickinson and Company and Avantor, Inc.

Major companies operating in the cell therapy technologies market are developing innovative cell therapies to strengthen their position in the market. For instance, in June 2022, The University of Texas MD Anderson Cancer Centre, a US-based comprehensive cancer center, and National Resilience Inc, a US-based Biotechnology company, announced the launch of a joint venture, the Cell Therapy Manufacturing Center (CTMC), to accelerate the development and manufacturing of innovative cell therapies for patients with cancer. The joint venture combines MD Anderson's expertise in immunotherapy and cell therapies and a leading clinical trials infrastructure, with Resilience's innovative biomanufacturing technologies, advanced analytics, and a national network for developing and producing cell therapies.

Request A Free Sample Of The Cell Therapy Technologies Market Report – https://www.thebusinessresearchcompany.com/sample.aspx?id=4122&type=smp

Player-adopted strategies in the cell therapy technologies market include securing regulatory approvals, launch of new solutions, strategic acquisitions, and strategic collaboration and partnerships.

As per the cell therapy market report, North America was the largest region in the cell therapy technologies market, accounting for 67.1% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the cell therapy technologies market will be Western Europe and Asia Pacific.

View More Similar Market Reports:

Cell Therapy Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/cells-therapy-global-market-report

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https://www.thebusinessresearchcompany.com/report/cellulars-immunotherapy-global-market-report

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https://www.thebusinessresearchcompany.com/report/cell-and-genes-therapy-global-market-report

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