PORTLAND, Ore., Jan. 20, 2021 /PRNewswire/ -- llied Market Research recently published a report, titled, "Cell Separation Technologies Market by Product (Instruments and Consumables), Technology (Gradient Centrifugation, Surface Markers Separation, and Filtration Based Separation), Application (Oncology Research, Neuroscience Research, Stem Cell Research, Microbiology, Immunology Research, and Other Application) and End User (Research Laboratories & Institutes, Biotechnology & Biopharmaceutical Companies and Cell Banks): Global Opportunity Analysis and Industry Forecast, 20202027". As per the report, the global cell separation technologies industry was pegged at $8.63 billion in 2019, and is projected to reach $28.76 billion by 2027, growing at a CAGR of 15.4% from 2020 to 2027.

Major determinants of the market

Rise in number of patients suffering from chronic disease, increase in focus on personalized medicine, and rapid technological advancements drive the growth of the global cell separation technologies market. However, ethical issues regarding embryonic stem cell separation and high cost of cell-based research hamper the growth of the market. On the contrary, potential in the emerging markets is expected to create lucrative opportunities for the market players in the future.

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Covid-19 scenario:

The consumables segment held the lion's share

By product, the consumables segment dominated the market in 2019, accounting for around three-fifths of the global cell separation technologies market, owing to presence of major companies offering reagent kits and magnetic beads for cell separation technology and repetitive use of these consumables. However, the instruments segment is projected to register the highest CAGR of 16.3% from 2020 to 2027, due to increase in government funding for cell-based research and technological advancements across the world.

The biotechnology and biopharmaceutical companies segment to manifest the highest CAGR by 2027

By end user, the biotechnology and biopharmaceutical companies segment is expected to register the highest CAGR of 15.9% during the forecast period. In addition, the segment held the largest share in 2019, contributing to around three-fourths of the global cell separation technologies market, due to increased focus on the R&D of protein therapeutics, monoclonal antibody, stem cells research, cryobanking, and cell-based assays development. The report includes an analysis of other segments such as research laboratories and institutes and cell banks.

North America held the largest share

By region, the market across North America held the largest share in 2019, accounting for nearly two-fifths of the market, owing to rise in prevalence of chronic diseases, emergence of demand for novel products, and high spending on medical research and drug discovery. However, the global cell separation technologies market across Asia-Pacific is anticipated to manifest the highest CAGR of 17.8% during the forecast period, due to its high population base, increase in disposable incomes, and government initiatives to boost the biotechnology industry and improve technology and processes.

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Major market players

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Cell Separation Technologies Market to Reach $28.76 Bn, Globally, by 2027 at 15.4% CAGR, Says Allied Market Research - PRNewswire