Cell expansion technology is witnessing rising adoption from different parts of the world. Mass production of specific cells or a sample is gaining positive response from the research institutes from around the world. Rise in the adoption for cancer research and positive governmental approach are expected to be the major driving factors for the global cell expansion market. According to the experts, innovative technological advancements are also expected to provide vital growth opportunities for this market around the world. Growth in the healthcare sector of the developing countries is also expected to drive the market for cell expansion during the next few years.
Segmentation in the Market
Researchers divide the global cell expansion market on the basis of the types of products, their applications and their demand across different end-user segments and geographic regions. The basic types of products in the market are categorized into reagents, serum and media; consumables, and disposables. The types of disposables are segmented into automated cell expansion systems, support equipment and bioreactors. Major application segments of the market are further divided into regenerative medicine, cancer and stem cell research, clinical diagnostics and biotechnological and biopharmaceutical research. Major geographic regions in the market include Europe, North America, Asia Pacific and rest of the world.
Major Drivers and Restraints for the Market
According to the researchers, the global cell expansion market is expected to witness steady growth over the next few years. This growth is mainly expected to be driven by strong rise in the chronic diseases and fast improving technology in the industry. Growth in the government investments, consumer awareness programs and initiatives from the research institutes are also expected to provide growth traction to this market. Rising demand from biologics and production facilities for GMP-certified cell therapies are also expected to drive this market over the next few years. Major restraining factors for the market include ethical concerns, high costs and stringent regulations. Small players in the industry are also expected to face tough competition in the industry from the established players.
As per the latest research reports, the global cell expansion market is expected to grow at a steady CAGR of over 19% from 2014 to 2019. At the estimated growth rate, the market is anticipated to reach past $14.8 billion by the end of the year 2019. High growth prospects from the developing countries and emerging economies are expected to drive the market in future. Innovative 3D cell expansion technology is also expected to drive this market over the next few years. During the forecasting period, North America is expected to dominate the global market based on total market share.