Cell Harvesting is a process in which the stem cells are harvested to replace, restore or repair the weakened organ with the well-working ones. Cell harvesting is considered an essential step that has a direct impact on the drug quality and related downstream processes in the biopharmaceutical industry. Stem cells harvesting assists in the diagnosis of the diseases such as tumors, immune deficiency illness, blood disorders, multiple accidents. The therapy is also useful for the burnt victims and allows them to craft new skin cells in replacement in the damaged ones.
What is the Impact of COVID-19 Pandemic on the Cell Harvesting Market?
- The consequences of lockdown and government-enforced restrictions as a result of the coronavirus have been felt heavily by businesses across all industries. Both the private and public healthcare sectors and health businesses that rely on close physical contact with their clients, have been significantly affected.
- Many small hospitals, dermatology clinics and nursing homes have been forced to shut their operations. Social distancing and localized curfews have resulted in delayed procedures. In addition, visa cancellations have led to a hiatus in medical tourism and can negatively impact the healthcare services market growth. The current outbreak of the COVID-19 has negatively impacted the cell harvesting business.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The Rise in the Cases of Chronic Diseases and Bone Marrow Transplantation
The cell harvesting systems globally have been witnessing significant growth in the last two decades. The factor to drive the development of the cell harvesting system is bone marrow transplantation. Increase in the incidence of blood diseases like blood cancer is likely to boost the demand for therapy of bone marrow transplantation and also the demand for cell harvesting. Additionally, as per the study conducted by The Leukemia & Lymphoma Society, an estimate of 174,250 individuals in the U.S. are predicted to be diagnosed with lymphoma, leukemia, myeloma in the year 2018. Increasing awareness about the advantages of stem cells, which are helpful in the treatment of disorders has also emerged.
Various advancements in technology are expected to fuel the development of better and updated technologies that can bring better results are expected to prosper the market of cell harvesting during the forecast timeline. Lack of reimbursement policies, high price, and immune rejection are the major factors that are predicted to restrict the market growth of cell harvesting globally.
The demand for the technique of cell harvesting has significantly high in North America in the year 2019 followed by the Asia-Pacific and Europe. A highly advanced healthcare system with available treatments and high awareness among the individuals is to drive the cell harvesting market in the region. Asia-Pacific is predicted to be a lucrative region for cell harvesting systems because of rise in chronic diseases and increasing demand for stem-cell-based therapy and stem cell transplantation. China & Japan are expected to be the biggest cell harvesting market in the Asia-Pacific for harvesting.
Key Benefits of the Report
- This study presents the analytical depiction of the global cell harvesting market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global cell harvesting market share.
- The current market is quantitatively analyzed to highlight the global cell harvesting market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cell harvesting market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Cell Harvesting Market Research Report
- What are the leading market players active in the cell harvesting market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Cell Harvesting Market Report Highlights
By End User
Key Market Players
Avita Medical, Arthrex, Inc, Teleflex Incorporated, Bertin Technologies, Argos Technologies, Inc.