NEW YORK, Nov. 24, 2020 /PRNewswire/ -- The South and Central America cell therapy instruments market is expected to reach US$ 462.05 million in 2027 from US$ 1,074.99 million in 2019. The market is estimated to grow with a CAGR of 11.4% during the forecast period.
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The surge in the number of cell therapy transplantation procedures, growing research and development activities, and rising investments in building production facilities for cell and gene therapy products drive the growth of the South and Central America cell therapy instruments market. However, the low success rate of cell therapies and the high cost of cell-based research is expected to restrain the market growth during the forecast period.
Cell therapy typically involves the administration of somatic cell preparations by injecting or grafting it into the patient's body for the treatment of diseases or traumatic damages.The procedure is used to cure diabetes, neurological disorders, related injuries, several cancer types, bones and joints, and genetic disorders.
Continuous research and development activities have led to unique cell therapeutic instruments for the improvement of immune system and efficient treatment of genetic disorders. Various market players provide several consumables such as reagent kits and enzymes as well as devices, equipment, and software to perform various cell therapy processes.
The cell therapy products are derived from animals or human cells and thus need to be protected from contamination.The instruments used in cell therapies help provide protection against contamination and allow scaling up of transplantation.
Companies such as Hitachi Chemical Advanced Therapeutics Solutions; Corning Incorporated; Thermo Fisher Scientific Inc.; MiltenyiBiotec; LLC; Invetech; and Cytiva (General Electric Company) have introduced various equipment and consumables for the cell therapy procedures.
Various US-based companies have their manufacturing units in the South and Central America countries; the lockdown imposed in response to the COVID-19 pandemic in multiple countries has affected the supply of instruments in this region. Therefore, many organizations are collaborating with other companies to overcome the adverse effects of the pandemic by using cell therapies for the treatment of COVID 19.
On the basis of product, the South and Central America cell therapy instruments market is further segmented into consumables, software, equipment, and systems.The consumables segment held the largest share of the market in 2019 and is expected to register the highest CAGR during the forecast period.
On the basis of cell type, the cell therapy instruments market is segmented into animal cells and human cells. The human cells segment held a larger share of the market in 2019 and is estimated to register a higher CAGR during the forecast period.
The South and Central America cell therapy instruments market, based on process, is segmented into cell processing; cell preservation, distribution, and handling; and process monitoring and quality control.The cell processing segment held the larger share of the market in 2019 and is estimated to register the highest CAGR during the forecast period.
Based on enduser, the South and Central America cell therapy instruments market is segmented into life science research companies, research institutes, and other end users. The life science research companies segment grasped the largest share of the market in 2019 and is anticipated to register the highest CAGR during the forecast period.
A few of the major primary and secondary sources referred to while preparing this report on the South and Central America cell therapy instruments market include National Center for Biotechnology Information (NCBI);World Health Organization (WHO); Brazilian Health Regulatory Agency(ANVISA); and Global Institute of Stem Cell Therapy and Research (GIOSTAR).
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