Cell Harvesting Market Size

Cell Harvesting Market Analysis

The cell harvesting market is expected to register a CAGR of 8.7% during the forecast period.

• COVID-19 impacted the growth of the cell harvesting market. Various research conducted on cell therapies showed their potential in modulating the immune response by regulating cell function and downregulating inflammatory cytokines that helps in reducing mortality and morbidity of patients with COVID-19.
• For instance, according to an article published in Molecular Biomedical in February 2022, it has been observed that mesenchymal stem cells have shown promising results in clinical trials for treating COVID-19 disease by modulating the immune system. Thus, the rising adoption of stem cells in treating COVID-19 patients impacted market growth during the pandemic. However, with the released restrictions and resumed company activities, the studied market is anticipated to grow over the forecast period.
• Factors such as rising investments in regenerative medicines and cell-based research are expected to increase market growth. In addition, with the increasing incidence of chronic and infectious diseases as well as the growing biotechnology and biopharmaceutical industries, the studied market is expected to grow over the forecast period.
• The growing government initiatives to accelerate the research and development of regenerative medicine and cell therapy, such as Parvati and allocated, are expected to increase the demand for cell harvesters to reduce the time and cost of cell harvesting. This is anticipated to augment the market growth. For instance, in February 2022, the Government of India assisted in the establishment of state-of-the-art stem cell research facilities in 40 premier medical research and educational institutes as part of its endeavor to promote the study and development of regenerative medicine in the nation.
• Also, as per the Australian Government Department of Health and Aged Care, in March 2022, the Stem Cell Therapies (SCT) Mission invested USD 150 million to develop novel, secure, and efficient stem cell therapies that will enhance health outcomes in collaboration with patients and caregivers. The mission supports projects that develop innovative, safe, and effective treatments that improve the lives of patients and the capacity of the workforce as well as translate stem cell innovations into commercial products.
• Furthermore, the increasing incidence of chronic and infectious diseases among the population raises the need for effective biotechnology-based products or regenerative medicines such as Luxturna and Zolgensma. This is anticipated to boost the demand for cell harvesters, hence propelling market growth. For instance, as per 2022 statistics published by Alzheimer's Association, about 6.5 million people were living with Alzheimer's in America in 2022, and this number is projected to reach 13.8 million by 2060.
• Also, according to the BHS England Factsheet, published in January 2022, about 6.4 million people will be living with cardiovascular diseases in England in 2021. Also, according to an article published in BMJ Global Health in March 2022, spinal muscular atrophy (SMA) affects approximately 250-300 newborns in Brazil every year. Thus, the high burden of heart disease and Alzheimer's among the population is anticipated to increase the company's focus on developing advanced cell therapy drugs, thereby bolstering market growth.
• Moreover, the rising product launches by the companies increase the availability of advanced cell harvesters systems in the market, thereby contributing to the growth of the cell harvesting market. For instance, in June 2022, researchers from the University of Technology Sydney (UTS), in collaboration with Regeneus, a biotech company, developed the first 3D-printed microfluidic stem cell harvesting system. The microfluidic device is designed to collect stem cells from bioreactors, providing an affordable and scalable way to handle stem cells.
• Therefore, high burden of chronic and infectious diseases, growing biotechnology and biopharmaceutical companies, and rising investments, the studied market is anticipated to grow over the forecast period. However, the ethical issues about embryonic stem cell research are likely to hinder the growth of the cell harvesting market over the forecast period.