GMP CELL THERAPY CONSUMABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global GMP cell therapy consumables market growth is driven by increasing prevalence of chronic diseases like cancer. Cell therapy involves extracting cells from patient's/ donor's body and modifying them to fight against diseases. GMP consumables play a vital role in cell therapy procedures as these ensure sterility and prevent contamination during development and manufacturing of cell therapy products. Factors such as rising funding for cell-based research, growing geriatric population susceptible to chronic illnesses and augmenting healthcare expenditure can boost demand for GMP consumables in cell therapy globally. However, high costs associated with cell therapy developments and stringent regulatory guidelines for GMP facilities can hamper the market growth.
Market Dynamics:
Global GMP cell therapy consumables market growth is driven by factors such as rising incidence of cancer and other chronic illnesses worldwide. As per WHO, cancer burden has increased to 18.1 million new cases and 9.6 million deaths in 2018. This has boosted demand for advanced treatment solutions like cell therapy, thus, boosting the need for GMP consumables. Growing investments in cell-based research by public-private organizations can drive the market growth. For instance, National Institutes of Health granted over US$ 150 million towards cell therapy research in 2022. However, high costs associated with cell therapy development and maintenance of GMP facilities can hamper the market growth. Strict regulatory standards for GMP manufacturing can hamper the wider commercialization of cell therapy products. Moreover, reimbursement issues related to cell therapies can hamper the market growth. Ongoing technological advancements in GMP consumables to simplify manufacturing processes and rising applications of cell therapies can provide growth opportunities for market players.
Key features of the study:
- This report provides in-depth analysis of the global GMP cell therapy consumables market, and provides market size (USD Million) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global GMP cell therapy consumables market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Merck KGaA, Danaher Corporation, Sartorius AG, Thermo Fisher Scientific, General Electric, PBS Biotech, Meissner Filtration Products
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global GMP cell therapy consumables market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global GMP cell therapy consumables market
Detailed Segmentation-
Detailed Segmentation-
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