BioTime, Inc. (US) and Viacyte, Inc. (US) are leading players in Live Cell Encapsulation Market
The global live cell encapsulation market is projected to reach USD 303 million by 2024 from USD 250 million in 2018, at a CAGR of 3.2% during the forecast period. Factors such as the increasing incidence of target diseases, rising adoption of novel drug delivery systems for disease treatment, technology advancements, increasing public-private investments to support product development, increasing research to establish the clinical efficacy of cell encapsulation technologies, and rising public awareness related to the clinical role of encapsulated cells in disease management are driving the growth of the live cell encapsulation market. However, high manufacturing costs, the limited availability of high-quality raw materials, and the significant adoption of alternative therapies are expected to restrain the growth of this market during the forecast period.
The major players operating in the live cell encapsulation market include BioTime, Inc. (US), Viacyte, Inc. (US), and Living Cell Technologies Ltd. (Australia) were the top three players in the global live cell encapsulation market. Other prominent players operating in this market are Sigilon Therapeutics, Inc. (US), Evonik Industries (Germany), BÜCHI Labortechnik AG (Germany), Blacktrace Holdings Ltd (UK), and Sernova Corporation (Canada), among others. Furthermore, the key players with developmental pipeline products in this market include Neurotech Pharmaceuticals, Inc. (US), Gloriana Therapeutics (US), Kadimastem (Israel), Beta-O2 Technologies, Inc. (Israel), Defymed (France), and Altucell, Inc. (US), among others. The analysis of market developments between 2014 and 2018 revealed that several growth strategies such as research collaborations and strategic market expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the live cell encapsulation market.
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BioTime, Inc. (US) dominated the live cell encapsulation market in 2017. The company has a strong geographic presence across the regions such as US, Australia, New Zealand, Israel, Canada, China, Japan, and Taiwan. BioTime, Inc. mainly focuses on product commercialization to further strengthen its position in the live cell encapsulation market. In line with this, the company commercialized pluripotent cells for research, drug discovery, and regenerative medicine therapies. It also focuses on inorganic growth strategies such as distribution agreements to maintain its market position.
Viacyte, Inc. (US) held the second position in the live cell encapsulation market in 2017. The company has a wide distribution network across North America and Europe. The company primarily focuses on the innovation of stem cell‐derived cell replacement therapies that have made ViaCyte an important player in the live cell encapsulation market. The company also maintains its robust product pipeline, which is a competitive advantage in the market. For instance, PEC-Encap (VC-01) is in Phase II of clinical trials; PEC-Direct (VC-02) is in Phase II of clinical trials; and VC-03 & VC-04, are in the developmental phase of clinical trials.
Related Reports:
Live Cell Encapsulation Market by Technique (Dripping (Simple, Electrostatic), Coaxial Airflow, Liquid Jet), Polymer (Alginate, Chitosan, Silica, Cellulose Sulfate), Application (Probiotics, Transplant, Drug Delivery, Research) - Forecast to 2024
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