The Asia Pacific GMP cell therapy consumables market is expected to grow from US$ 1,918.28 million in 2022 to US$ 9,093.86 million by 2028; it is estimated to grow at a CAGR of 29.6% from 2022 to 2028.
Increase in Strategic Collaborations Boosts Asia Pacific GMP Cell Therapy Consumables Market
The companies in the Asia Pacific GMP cell therapy consumables market is making strategic collaborations for the development of new products and cell therapy treatments. A few strategic collaborations in the GMP cell therapy consumables market are mentioned below:
Thus, the growing number of strategic collaborations among market players for the development of cell therapy has propelled the use of GMP cell therapy consumables to achieve the desired products, which drives the growth of the Asia Pacific GMP cell therapy consumables market.
Asia Pacific GMP cell therapy consumables Market Overview
The Asia Pacific GMP cell therapy consumables market is segmented into China, Japan, India, South Korea, Australia, South Korea, and the Rest of Asia Pacific. The Asia Pacific GMP cell therapy consumables market growth is attributed to the growing pharmaceutical industry, a rising number of players in the region, an increasing number of regulations, and a rising awareness about cell therapy. China was the first country worldwide to approve gene therapy in 2003. However, developments in cell and gene therapy (CGT) were delayed due to a lack of clear and strict regulatory frameworks. The rapid advancements of CGTs' development worldwide and their therapeutic potential have triggered the government to conduct regulatory reforms to promote the normative development of CGTs in China. In 2017, the regulations regarding cell therapy were changed in such a manner that products of all cell therapy categories boomed. According to research conducted by Nature, approximately 953 cell and gene therapy clinical trials were initiated till March 2021, including Investigational New Drugs (IND), registered trials, and investigator-initiated trials (IITs). Encouraged by policy support, the remarkable progress for CGTs in China has been observed over the past few years, thereby making China a leading country in the development of CGTs.
Asia Pacific GMP Cell Therapy Consumables Market Segmentation
The Asia Pacific GMP cell therapy consumables market is segmented on the basis of product, cell therapy, process, end use, and country.
Bio-Techne Corp, BPS Bioscience Inc, Corning Inc, FUJIFILM Irvine Scientific Inc, Global Life Sciences Solutions USA LLC, Lonza Group AG, Merck KGaA, Miltenyi Biotec BV & Co KG, Sartorius AG, and Thermo Fisher Scientific Inc are the leading companies operating in the Asia Pacific GMP cell therapy consumables market.