Industry Outlook
The cell expansion market is set to reach from US$ 9,743.7 Mn in 2018 to US$ 33,443.2 Mn by 2027 at a compound annual growth rate (CAGR) of 15.0% during the forecast period from 2019 to 2027. Lack of effective treatment regime for the chronic disease has resulted in significant rise in novel drug discovery and development research studies throughout the globe. Increasing demand for regenerative medicine and stem cell therapy further consolidates the cell expansion market growth.
Market Synopsis
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"Significant rise in high throughput screening has resulted in increasing consumption of consumables during the novel drug discovery and development stage"
Consumables are reigning the products segment for cell expansion market. The chief contributing factor responsible for its positive market growth is significant rise in high throughput screening which increases the consumption of consumables during the novel drug discovery and development stage. Disposables will be growing at a rampant pace during the forecast period owing to negligible risk of cross contamination of laboratory equipments and flourishing biotechnology & pharmaceutical industry.
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"Significant growth in translational research related to molecular biology and tissue engineering increases the demand for regenerative medicine"
Regenerative medicine is dominating the application segment for cell expansion market. In the last 2 decades there has been significant growth in translational research pertaining to molecular biology and tissue engineering. Regenerative medicine is widely employed in restoring normal function of cells and tissues of internal organs. Increasing demand for personalized medicine has created a lucrative market opportunity for the growth of regenerative medicine. Clinical diagnostics are garnering attention of researchers around the globe due to technological advancement in companion diagnostic kits and rising public health awareness resulting in early screening of chronic diseases.
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"Rising prevalence of chronic disease and increasing demand for regenerative medicine together drive the market growth in North America"
North America with a market share of 35.2% is spearheading the regional segment for cell expansion market. The major factors influencing its market growth are rising prevalence of chronic disease. According to Center for Disease Control and Prevention (CDC), the statistics provided by National Health Council approximately 133 million Americans are suffering with chronic diseases. Tremendous demand for the development of regenerative medicine further propels the market growth in North America region. Europe represents a market share of 30.5% on account of domicile of major biopharmaceutical companies such as Becton Dickinson & Company, Merck Millipore, GE Healthcare etc. Asia Pacific presently holds 17.5% market share owing to the developing healthcare infrastructure and supportive regulatory environment provided by local healthcare agencies for the market proliferation of cell expansion products.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market segmentation comprises of by product, application and geography.
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
By Product (2017–2027; US$ Mn)
• Instrument
• Consumables
• Disposables
|
|
By Application (2017–2027; US$ Mn)
• Regenerative Medicine
• Cancer & Stem Cell Research
• Clinical Diagnostics
• Others
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
Medical device companies spearheading the cell expansion market are Becton Dickinson & Company, Beckman Coulter, Inc., Danaher Corporation, GE Healthcare, Merck Millipore, Miltenyi Biotec, STEMCELL Technologies, Terumo Biotec and Thermo Fisher Scientific.
Key questions answered in this report
- Which major players are competing in the cell expansion market?
- What are the organic and inorganic market growth strategies being adopted to perform the market assessment for cell expansion market?
- Which factors are responsible for the increasing demand for stem cell therapy and regenerative medicine?
- Which factors are responsible for the increasing consumption of consumables in pharmaceutical and biotechnology companies?
- What is the market performance in developed regions of North America and Europe?
