The global cell expansion market is expected to reach USD 18.76 Billion by 2021 from USD 8.34 Billion in 2016 at a CAGR of 17.6% from 2016 to 2021.
Seattle, WA -- (SBWIRE) -- 07/17/2017 -- The report "Cell Expansion Market by Product (Reagent, Media, Flow Cytometer, Centrifuge, Bioreactor), Cell Type (human, animal), Application (Regenerative Medicine & Stem Cell Research, Cancer), End user (Research Institute, Cell Bank) - Global Forecasts to 2021", The global cell expansion market is expected to reach USD 18.76 Billion by 2021 from USD 8.34 Billion in 2016 at a CAGR of 17.6% from 2016 to 2021.
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The global cell expansion market is expected to reach USD 18.76 Billion by 2021 from USD 8.34 Billion in 2016 at a CAGR of 17.6% from 2016 to 2021. The major factors driving the growth of this market are increasing government funding for research, high prevalence of chronic diseases, rising company investments for the development of cell-based products, and growing number of GMP-certified production facilities.
The report segments this market based on product, cell type, application, end user, and region. Among products, the consumables segment is expected to account for the largest share of the market. The consumables market includes reagents, media and sera, and disposables. Disposables are further classified into tissue culture flasks, bioreactor accessories, and other disposables. The reagents, media, and sera segment is projected to grow at the highest CAGR from 2016 to 2021 due to increasing investments for cell-based research.
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On the basis of cell type, the cell expansion market is segmented into human cells and animal cells. The human cells segment is expected to account for the largest share of the global cell expansion market in 2016. This segment is expected to grow at the highest rate due to increasing research investments by public and private organizations. Human cells include stem cells and differentiated cells. The stem cells segment is classified into adult stem cells, embryonic stem cells, and induced pluripotent stem cells.
The applications segments included in the cell expansion market are regenerative medicine and stem cell research, cancer and cell-based research, and others. The regenerative medicine and stem cell research segment is expected to account for the largest share of the global cell expansion market in 2016. Increasing investments by companies for the development of cell-based therapies are driving the growth of this market.
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End users included in the cell expansion market are research institutes, biopharmaceutical and biotechnology companies, cell banks, and others. The research institutes segment is expected to account for the largest share of the global cell expansion market in 2016. The increasing prevalence of diseases and rising government investments for R&D will drive the growth of this market.
Based on region, the global cell expansion market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market during the forecast period. Growth in this segment is driven by increasing government funding for cell-based research.
Key players in the cell expansion market include Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Corning, Inc. (U.S.), GE Healthcare (U.K.), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT, Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.).
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