Cell Expansion Market | Government Investments for Cell-based Research

PUNE, India, 2020-May-28 — /EPR Network/ —

[171 Pages Report] The cell expansion market is projected to reach USD 26.0 billion by 2024 from USD 12.7 billion in 2019, at a CAGR of 15.4% during the forecast period.

Growth in this market is mainly driven by the increasing incidence of chronic diseases, government investments for cell-based research, the growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and increasing GMP certifications for cell therapy production facilities.

“Consumables accounted for the larger share of the cell expansion market in 2018”

On the basis of products, the cell expansion market is segmented into consumables and instruments. Consumables are segmented into reagents, media, sera, and disposables. The instruments segment includes cell expansion supporting equipment, bioreactors, and automated cell expansion systems. In 2018, consumables accounted for the largest share of the cell expansion products market owing to the constant requirement for new reagents among end users and rising investments for R&D on cell-based therapies.

Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=194978883

“Human cells accounted for the largest share of the cell expansion market in 2018”

Based on cell type, the cell expansion market is segmented into human cells and animal cells. The human cells segment includes stem cells and differentiated cells. The stem cells segment is further classified into adult stem cells, ESCs, and iPSCs. These cells are used for therapeutic and research purposes. In 2018, the human cells segment accounted for the larger share of the cell expansion market majorly due to the increasing investments by public and private organizations for research on human cells, growing application areas of human stem cells, and the growing incidence of diseases such as cancer.

 “North America dominates the cell expansion market”

North America, which includes the US and Canada, accounted for the largest share of the cell expansion in 2018. The large share of this market segment can be attributed to the government funding for cancer research, increasing awareness regarding advanced treatment theories, and the strong presence of industry players in the region.

Leading Companies

The major players operating in this market are Thermo Fisher Scientific, Inc. (US), Becton, Dickinson and Company (US), Terumo BCT (Japan), Merck KGaA (Germany), Danaher Corporation (US), Miltenyi Biotec (Germany), Lonza Group Ltd. (Switzerland), STEMCELL Technologies Inc. (Canada), GE Healthcare (US), and Corning, Inc. (US).

Request for Sample Pages @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=194978883

Recent Developments

• In 2016, Thermo Fisher Scientific acquired Affymetrix Inc. (US) for USD 1.3 billion. The acquisition enables Thermo Fisher Scientific to increase its market in the field of cellular and genetic analysis.
• In 2017, Becton, Dickinson and Company Received 510(k) clearance for its BD FACSLyric flow cytometer system.