Los Angeles, February 10, 2020 -Cell harvesting is rising in demand because it is very useful for development of drug and developmental studies. Its success rate to cure cancer is substantially high, which is the key factor boosting its adoption across the world. QY Research has recently published a report titled “Global Cell Harvesting Market Report, History and Forecast 2014-2025, Breakdown Data by Companies, Key Regions, Types and Application”. According to the report the global cell harvesting market is expected to reach US$314 mn by the end of 2026 from US$198 mn in 2019, surging at a CAGR of 6.7% during the forecast period.
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Investments in Research and Development Activities to Boost Cell Harvesting Market
The major factor contributing to the growth in demand for cell harvesting is in regenerative medicine such as congenital diseases, cancer, trauma, and others. Research bodies across the world are predicting potential in cell harvesting, thus there is a rising demand for research and development activities from the biotechnology and pharmaceutical sectors. Its demand is bolstered due to rising concern of cancer prevalence and genetic disorder such as sickle cell disease.
Rise in technological advancements has led to increased research and development activities in gene therapy, cell therapy, and animal biotechnology sector to increase production. Therefore, cell harvesting has witnessed various opportunities and is likely to witness many more during the forecast period. It widely finds application as model system for the study of biochemistry and basic cell biology. It is utilized for virology to study viruses that would help in the production of vaccine. These factors are likely to boost the demand for cell harvesting in the global market.
Automated Cell Harvesting to Rise as it has Safer Approach
Automated cell harvesting segment is expected to rise in demand during the forecast period as automated approach has a better functionality and keeps the fluid paths closed. This ensures isolation and safety of the cells.
Favorable Policies to Augment Growth in North America
North America is expected to lead the global market because this region largely invests in research and development activities. The stem cell industry is rapidly growing in this region because of favorable regulatory policies and commercialization opportunities.
Key players in the market are extensively investing in research and development activities to produce artificial skin, tissue, and organs. They are researching its uses in genetic counselling, genetic engineering, and gene therapy.
The key players operating in the global cell harvesting market are PerkinElmer (US), Brandel (US), TOMTEC (US), Pall Corporation (Danaher), Connectorate (Switzerland), Scinomix (US), ADSTEC (Japan), Sartorius, and Terumo Corporation.
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