The Latin America Cell Expansion Market was worth USD 1.37 billion in 2016 and is projected to be growing at a CAGR of 16.2%, to touch USD 2.89 billion by 2021.
Cell Expansion is 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 prerequisite setting for stem cell expansion is maintained by an arrangement of various media, reagents and supplements and might also encompass the partaking of healthy feeder populations or conditioned modules taken off feeder cells.
The growth of the Latin America Cell Expansion Market is driven by factors such as 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.
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The Latin America 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.
Further, 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.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia.
There is potential for market growth in the future due to increasing incidence of chronic illnesses and an increase in infrastructural and pharmaceutical investments by administrative bodies.
The significant players in the Latin America Cell Expansion Market are 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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