by The global Immune Cell Engineering Market is estimated to be valued at US$ 2.82 billion in 2023 and is expected to exhibit a CAGR of 22.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immune cell engineering involves manipulating immune cells to enhance their therapeutic potential. This market offers various products and techniques for immune cell engineering, including gene editing, cell isolation, cell expansion, and cell culture. The advantages of immune cell engineering include improved specificity and efficacy of immune cell therapies. The need for immune cell engineering products arises from the increasing prevalence of cancer and autoimmune diseases, driving the demand for effective immune cell-based therapies.
Market Key Trends:
One of the key trends in the immune cell engineering market is the adoption of gene editing technologies. Gene editing allows precise modification of immune cells, enhancing their therapeutic capabilities. The use of CRISPR-Cas9 and other gene editing tools enables targeted modifications, such as knockout or knock-in of specific genes, to optimize immune cell function. This trend is driven by the increasing research and development activities in the field of gene editing and the potential of gene-edited immune cells in personalized medicine and immunotherapy. The adoption of gene editing technologies is expected to drive the growth of the immune cell engineering market in the coming years.
Porter’s Analysis:
The Immune Cell Engineering Market is expected to witness high growth, exhibiting a CAGR of 22.5% over the forecast period from 2023 to 2030. This growth can be attributed to increasing advancements in immune cell engineering technologies and the rising prevalence of diseases such as cancer.
Threat of new entrants: The threat of new entrants in the immune cell engineering market is relatively low due to the high barriers to entry. The market requires significant investments in research and development, expertise in cell engineering technologies, and regulatory compliance. This makes it difficult for new players to enter and compete with established companies.
Bargaining power of buyers: The bargaining power of buyers in the immune cell engineering market is moderate. Buyers, such as research institutions and pharmaceutical companies, have options to choose from a variety of immune cell engineering products and services offered by different companies. However, the high quality and reliability of products offered by key players can limit the bargaining power of buyers.
Bargaining power of suppliers: The bargaining power of suppliers in the immune cell engineering market is moderate. Key players in the market have strategic partnerships with suppliers to ensure a steady supply of raw materials and reagents required for immune cell engineering. While there may be multiple suppliers available, key players often have long-term contracts and relationships with reliable suppliers, reducing the bargaining power of individual suppliers.
Threat of new substitutes: The threat of new substitutes in the immune cell engineering market is low. Immune cell engineering technologies have become an integral part of advanced therapies and personalized medicine. There are limited alternatives to immune cell engineering for targeted therapies and immunotherapies, making it difficult for substitutes to emerge.
Competitive rivalry: The competitive rivalry in the immune cell engineering market is high. Key players such as Thermo Fisher Scientific, Merck KGaA, and Lonza Group dominate the market with their extensive product portfolios, strong distribution networks, and ongoing technological advancements. These key players constantly strive to maintain their market position by investing in research and development, entering into strategic partnerships, and acquiring smaller companies.
Key Takeaways:
The Global Immune Cell Engineering Market Size is expected to experience significant growth over the forecast period. Advancements in immune cell engineering technologies and the rising prevalence of diseases such as cancer are major factors contributing to this growth.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the immune cell engineering market. The region has a well-established healthcare infrastructure, significant investments in research and development, and a high adoption rate of advanced therapies. Additionally, the presence of key players in North America further strengthens its position in the market.
Key players operating in the immune cell engineering market include Thermo Fisher Scientific, Merck KGaA, Danaher Corporation, Lonza Group, and Miltenyi Biotec, among others. These key players have a strong market presence, extensive product portfolios, and a focus on research and development. They play a vital role in driving the growth of the immune cell engineering market through innovation and strategic partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
