According to P&S Intelligence, cell isolation market size is expected to reach $12.6 billion by 2023. The market is mainly driven by rising demand for biopharmaceuticals, increasing government funding for cell-based research, and growing research on personalized medicine.
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During the forecast period, the cell isolation market is projected to witness the fastest growth in APAC, with a CAGR of 22.1%. This is due to the increasing focus on basic and applied research by countries in the region. Besides, countries such as India and China have established research institutes promoting cell-based research. Hence, advanced healthcare infrastructure, rising adoption of innovative cell isolation products, and high demand for regenerative medicines are expected to drive the market growth in APAC in the coming years.
For instance, the 2012 launch of Abenomics, an economic revival plan by Japanese Prime Minister Shinzō Abe to accelerate the development and approval of regenerative medicines, is expected to boost the cell isolation market growth in Japan. In addition, increasing collaborations for the research and development of innovative therapies are expected to propel the demand for cell isolation products in the country.
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In order to increase their market share, key players of the cell isolation industry are developing cost-effective and at-home therapy products. For instance, in August 2016, GE Healthcare entered into an agreement with STEMCELL Technologies Inc. to provide T-Cell reagents for commercial-scale cell therapy production. GE Healthcare agreed to commercialize cGMP-grade versions of STEMCELL Technologies’ T-Cell reagents for the isolation, activation, and culture of T-cells in clinical applications.
Some of the other key players operating in the cell isolation industry are Terumo Corporation, General Electric Company, pluriSelect Life Science UG (haftungsbeschränkt) & Co. KG, Danaher Corporation, Merck KGaA, Miltenyi Biotec GmbH, and Becton, Dickinson and Company.
Source: P&S Intelligence