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Cell Expansion Market to Register a CAGR of 15.4% From 2019 to 2024 - ReportsnReports
PUNE, India, May 14, 2019 /PRNewswire/ -- 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. Growth in this market is mainly driven by the increasing incidence of chronic diseases, government investments for cell-based research, the growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and increasing GMP certifications for cell therapy production facilities.
Browse 192 Market Data Tables and 35 Figures spread through 171 Pages and in-depth TOC on "Cell Expansion Market Research Report" https://www.reportsnreports.com/reports/313419-cell-expansion-market-by-product-reagent-media-serum-bioreactors-centrifuge-cell-type-human-animal-application-stem-cell-research-regenerative-medicine-clinical-diagnostics-end-user-hospital-biotechnology-cell-bank-forecast-to-2019.html
The major players operating in this market are Thermo Fisher Scientific, Inc. (US), Becton, Dickinson and Company (US), Terumo BCT (Japan), Merck KGaA (Germany), Danaher Corporation (US), MiltenyiBiotec (Germany), Lonza Group Ltd. (Switzerland), STEMCELL Technologies Inc. (Canada), GE Healthcare (US), and Corning, Inc. (US).
"Consumables accounted for the larger share of the cell expansion market in 2018"
On the basis of products, the cell expansion market is segmented into consumables and instruments. Consumables are segmented into reagents, media, sera, and disposables. The instruments segment includes cell expansion supporting equipment, bioreactors, and automated cell expansion systems. In 2018, consumables accounted for the largest share of the cell expansion products market owing to the constant requirement for new reagents among end users and rising investments for R&D on cell-based therapies.
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"Human cells accounted for the largest share of the cell expansion market in 2018"
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. The stem cells segment is further classified into adult stem cells, ESCs, and iPSCs. 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, growing application areas of human stem cells, and the growing incidence of diseases such as cancer.
"North America dominates the cell expansion market"
North America, which includes the US and Canada, accounted for the largest share of the cell expansion in 2018.The large share of this market segment can be attributed to the government funding for cancer research, increasing awareness regarding advanced treatment theories, and the strong presence of industry players in the region.
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Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1:70%, Tier 2:20%, and Tier 3:10%
- By Designation: C-level:30%, Director-level:20%, and Others:50%
- By Region: North America:35%, Europe:24%, Asia:25%, and the RoW: 16%
Another research titled "Cell Isolation/Cell Separation Market by Product (Reagents, Beads, Centrifuge), Cell Type (Human, Animal), Cell Source (Bone Marrow, Adipose), Technique (Filtration), Application (Cancer), End User (Hospitals, Biotechnology) - Global Forecast to 2024, at a Compound Annual Growth Rate (CAGR) of 17.2% during the forecast period. Companies such as Major players in the Cell Isolation/Cell Separation Market are Beckman Coulter (US), Becton, Dickinson and Company (US), GE Healthcare (US), Merck KgaA (Germany), Miltenyi Biotec (Germany), pluriSelect (Germany), STEMCELL Technologies Inc. (Canada), Terumo BCT (US), Thermo Fisher Scientific (US), and Bio-Rad Laboratories Inc. (US) have been profiled in this 195 pages research report available at https://www.reportsnreports.com/purchase.aspx?name=298353
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