Cell Expansion Market: An Emerging Market with Attractive Growth Opportunities

Cell Expansion Market

According to the new market research “Cell Expansion Market by Product (Reagent, Media, Flow Cytometer, Centrifuge, Bioreactor), Cell Type (Human, Animal), Application (Regenerative Medicine & Stem Cell Research, Cancer & Cell-based Research), End User, and Region – Global Forecast to 2024″, analyzes and studies the major market drivers, restraints/challenges, and opportunities. 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.

The global Cell Expansion market is segmented based on product, type, application, end user and region.

On the basis of type, the cell expansion market is segmented into consumables and instruments. In 2018, the consumables segment accounted for the largest share of the cell expansion market. This is mainly due to its high demand during the production of regenerative medicine and rising research activities on stem cells in the biopharmaceutical companies. Apart from this, rising awareness regarding advanced treatment therapies such as personalized medicine is also another driving factor for this segment.

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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. 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 such as stem cells, growing application areas of human stem cells, and the growing awareness regarding stem cell therapies.

On the basis of region, the cell expansion market is segmented into North America, Europe, Asia Pacific (APAC, and the Rest of the World (RoW). While North America dominated the market in 2018, Asia Pacific is expected to register the highest CAGR in the market during the forecast period. Growth in the APAC market is largely driven by the large patient population and increasing focus of major players in this region.

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Market Players

Some major players in the global Cell Expansion market include 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).

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