Global cell expansion market was valued at US $ XX Mn in 2017 and expected to grow at 18.0% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Cell Expansion Market
Cell expansion is the cloning processes which results in the large scale production of the daughter cells artificially. The artificial environment is created for the growth of the cells which is usually maintained by various reagents, supplements and media. This procedure is used in various fields such as drug screening, therapeutic development and in various research operations such as the micro level cell research.
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Market Dynamics: Cell Expansion Market
Increase in the prevalence of chronic diseases is major driving factor for the growth of the cell expansion market. The technological advancements and increase in the initial investments in the research and development activities by the manufacturer in the cell-expansion systems is adding fuel to the growth of the cell expansion market. Furthermore, these R&D activities are providing opportunities to the manufacturers in the expansion which is expected to drive the cell expansion market. However, the lack of skilled workforce is hampering the growth of the market. The stringent government regulations are likely to restrain the growth of the market over the forecast period.
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Market Scope: Cell Expansion Market
Cell expansion market is segmented based on the product, cell type, applications and end users
Based on the product, the market is segmented into the following:
Consumables
Instruments
Automated Cell Expansion Systems
Cell Expansion Supporting Equipment
Centrifuges
Flow Cytometer
Cell Counters
Others
Bioreactors
Perfusion/Hollow Fiber Reactors
Microcarrier Bioreactor
Suspension-based for Anchorage Independent
Microcarrier-based for Anchorage Dependent
Based on the cell type, the market is segmented into the following:
Animal Cells
Human Cells
Differentiated Cells
Stem Cells
Induced Pluripotent Stem Cells
Embryonic Stem Cells
Adult Stem Cells
Based on the applications, the market is segmented into the following:
Stem Cell Research
Regenerative Medicine
Cancer Research
Others
Based on the end users, the market is segmented into the following:
Biotechnology Companies
Biopharmaceutical Companies
Research Institutes
Academic Research
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Regional Analysis: Cell Expansion Market
Geographically, global cell expansion market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America cell expansion market is growing due to the presence of the prominent players. The advancements in the technology is adding fuel to the growth of the cell expansion market in this region. According to the report published by the National Institutes of Health (NHI), approximately 500,000 people benefit from transplant each year with the help of the regenerative medicine in the U.S., which is anticipated to drive the growth of the market in this region. Europe trails North America. The Asia Pacific market expected to grow at significant rate over the forecasted period as the manufacturers keen on tapping into the emerging economies such as India, China and Japan.
Competition Assessment: Cell Expansion Market
Some of the players in the global cell expansion market include:
Becton, Dickinson and Company (U.S)
Beckman Coulter, Inc. (U.S)
Corning, Inc. (U.S)
GE Healthcare (UK)
Lonza
Merck KGaA (Sigma-Aldrich Co. LLC) (Germany)
Miltenyi Biotec (Germany)
Thermo Fisher Scientific, Inc. (U.S)
Terumo BCT, Inc. (U.S)
Stemcell Technologies, Inc. (Canada)
Notable Market Developments: Cell Expansion Market
In August 2017, first FDA approved cell therapy for leukemia utilizes Thermo Fisher Scientific's CTS Dynabeads Technology
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