This report provides research about Cell Expansion Market By Product By Application (Regenerative Medicine And Stem Cell Research, Cancer And Cell Based Research), By End User And By Region-Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016-2021)
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The Global Cell Expansion Market was worth USD 9.1 billion in 2016 and is projected to be growing at a CAGR of 18.5%, to touch USD 21.26 billion by 2021.
Expansion of stem cells is a pre-requisite for stem cells or even fully differentiated cell populations to be truly beneficial or useful in their utility as drug screening tools or even for core research purposes.
Cell Expansion is basically done by the process of cloning, which implies the derivation of the state of cells or substances from the same cell or varied multiple sources. The required environment for stem cell expansion is maintained by a combination of various media, reagents and supplements and may also involve the participation of healthy feeder populations or conditioned components taken off feeder cells.
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The growth of the Global Cell Expansion Market is majorly riding on the increasing demand for regenerative medicines that provide swift results and have high compatibility with patients. Increasing investments by governmental and administrative bodies to further enhance research in this market is also an augmenting driving factor of the market.
Other driving factors of the market include the growing frequency of incidence of chronic diseases, rising private sector investments for the development of cell-based products and growing number of Goods Manufacturing Practice (GMP) certifications of production facilities, which ensure that the products are produced consistently and satisfy quality standards. The constraints faced by the growth of the cell expansion market include the requirement of skilled workforce and high-tech instrumentation.
However, despite these constraints the market clocks a robust CAGR of more than 18%, and is set to expand further on the basis of its diverse driving factors.
The Global Cell Expansion Market is segmented on the basis of Product, Cell Type, Application, End User and Geography. Based on Product, the Cell Expansion market is divided into Instruments, Consumables and Disposables.
Consumables include reagents, media and serum, and disposables. The instruments segment consists of cell expansion supporting equipment, bioreactors, and automated cell expansion systems.
The cell expansion supporting equipment segments is segmented into flow cytometer, centrifuges, cell counter, and other supporting equipment. Bioreactors are further classified into micro-carrier bioreactors and perfusion/hollow fibre reactors.
Disposables are further classified into tissue culture flasks, bioreactor accessories, and other disposables.
On the basis of cell type the market is segmented into Human Cells and Animal Stem Cells. The human cells segment is further divided into Human Differentiated stem cells and Human stem cells, with the human stem cells segment further categorised into embryonic stem cells, adult stem cells and induced pluripotent stem cells.
By Application, the cell expansion market is categorised into Regenerative Medicine and Stem Cell Research, and Cancer and Cell Based Research. On the basis of End User, the market is distributed among hospitals, biotech and pharma companies, and academic and research institutes.
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The market has been geographically segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. As of 2016, North America leads the market, accounting for the major stake of the global market share.
North America’s lead is warranted by the presence of key market players in the region, relatively high number of registered treatments and increasing use of cartilage repair or regeneration to treat sports injuries and other accidents. Europe comes in second in terms of market share owing to the rising awareness about blood related disorders and the swift availability of treatment in terms of plasma fractionation.
However, Asia-Pacific is expected to outpace all other regions by clocking the highest CAGR during the forecast period majorly because of the presence of huge population base, and companies looking to tap the market potential of the region.
The Global Cell Expansion Market is quite consolidated with the key companies spending a lot of money and time on RandD to expand market boundaries while also focusing on product differentiation.
The major players in the market include Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Corning, Inc.
(U.S.), GE Healthcare (U.K.), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT, Inc. (U.S.), and Thermo Fisher Scientific, Inc.
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