Global Cell Therapy Raw Materials Market Size, Share & Trends Analysis Report 2023-2030 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Cell Therapy Raw Materials Market 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

The global cell therapy raw materials market size is anticipated to reach USD 19.77 billion by 2030. The market is projected to grow at a CAGR of 24.47%

The rising investments in the research and development of various cell-based drugs and the increasing number of government investments in numerous countries for various clinical studies are anticipated to contribute to the growth of the market. Moreover, the growing developments in the biopharmaceutical & biotechnology industry in developing countries are further fueling the growth of the market over the forecast period.

The COVID-19 pandemic had a significant impact on the cell therapy raw materials industry. As the virus spread globally, disruptions in supply chains, workforce shortages, and transportation restrictions posed significant challenges to the production and distribution of critical raw materials required for cell therapy manufacturing.

Many suppliers faced delays in the sourcing and delivery of essential components, such as growth factors, culture media, and bioreactors. This resulted in production slowdowns and increased costs for cell therapy companies. In addition, the heightened demand for medical supplies during the pandemic strained resources and led to price fluctuations.

Despite these challenges, the cellular therapy industry demonstrated resilience by adapting to new sourcing strategies and regulatory changes, emphasizing the importance of supply chain diversification and preparedness in the face of unforeseen global crises.

Moreover, the cell therapy industry is anticipated to witness a significant surge in advancements and innovations by biopharma companies. These advances would be further propelled by the growing demand for effective cell-based therapies to treat a range of diseases and medical conditions. Furthermore, the growing expansion of various biotechnology and pharmaceutical companies is further expected to propel the growth of the market over the forecast period.

The increasing expansion of cellular therapy manufacturing along with rising FDA approvals are opening numerous opportunities for the raw materials market. Several manufacturers are opening such facilities to increase their footprint in the cellular therapy field.

For instance, in June 2023, Bristol Myers Squibb received approval from the U.S. FDA to start its commercial production at its new cell therapy production facility in Devens, Massachusetts. For the long-term supply of the company’s therapy portfolio, the Devens site is a crucial part of BMS’ growing worldwide cell therapy production infrastructure.

However, the cost and affordability restrain the growth of the market. These materials, vital for cell therapy production, are costly to obtain and manufacture. This cost burden increases the expenses in the development and provision of cell-based therapies, potentially limiting their accessibility to a broader population due to financial constraints. Balancing quality and affordability is an acute concern in advancing cell therapies and ensuring their broader availability and acceptance within the healthcare industry.

Cell Therapy Raw Materials Market Report Highlights

• Based on product, the media segment held the largest revenue share of 24.20% in 2022. This is attributed to the increasing clinical trials for the drug discovery and development process. On the other hand, the antibodies segment is anticipated to witness the fastest CAGR of 27.55% over the forecast period
• Based on end-use, the biopharmaceutical & pharmaceutical companies segment held the largest market share of 53.70% in 2022. Due to the increasing number of research activities for drug discoveries & development and the growing demand for personalized medicines, the demand for raw materials in cell therapy is projected to boost over a period of time
• Based on region, North America dominated the market with a share of 45.98% in 2022, owing to the presence of major market players, and well-established healthcare infrastructure. These factors are anticipated to boost the market in the region during the study period. Asia Pacific is anticipated to witness the fastest CAGR of 24.96% over the forecast period

Key Attributes:

Market Dynamics

Market Driver Analysis

• Rising demand for cell therapies
• Advancements in research and development for cell-based therapies
• Technological Innovation

Market Restraint Analysis

• High cost associated with the production and procurement of raw materials
• Stringent regulations associated with cell therapies

Industry Analysis Tools

• Porter’s Five Forces Analysis
• PESTEL Analysis
• COVID-19 Impact Analysis

Competitive Landscape

• Thermo Fisher Scientific Inc.
• Merck KGaA
• Actylis.
• ACROBiosystems
• STEMCELL Technologies
• Grifols, S.A.
• Charles River Laboratories
• RoosterBio, Inc.
• PromoCell GmbH
• Danaher
• Sartorius Stedim Biotech

For more information about this report visit https://www.researchandmarkets.com/r/mzmwst

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