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%.
The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Cell Expansion Market, along with revenue estimates & forecasts and market share analysis.
Growth in this market is largely driven by the rising global prevalence of cancer, growing awareness regarding cell-based therapies, and increasing government funding cell-based studies.
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Cell Expansion Market segmentation:
- Based on Product
- Based on Cell Type
- Based on Application
- Based on End Users
- Based on Regions
The Major Players Opearting in the Cell Expansion Market:
Key players in the 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).
Thermo Fisher Scientific was the leading player in the global Cell Expansion Market. The company has earned approximately 58% of its total revenue from the US and China together.
The company mainly focuses on acquisitions and expansions to strengthen its position in the cell expansion market. In 2018, to expand its bioprocessing product portfolio, the company acquired BD’s bioprocessing unit for USD 477 million.
Geographical Detailed Analysis for Cell Expansion Market:
North America is the largest regional segment in the Cell Expansion Market.
The large share of this segment can primarily be attributed to the rising incidence of cancer, increasing government funding, rising research activates on stem cell therapies, growing awareness regarding advanced treatment methods, growing geriatric population, and the strong presence of industry players in the region.
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