The market is expected to reach USD 324.5 Million by 2023 from USD 213.8 Million in 2018, at a CAGR of 8.7% from 2018 to 2023.
Northbrook, IL -- (SBWIRE) -- 03/21/2018 -- According to a new market research report "Cell Harvesting Market by Type (Manual, Automated), Application (Biopharmaceutical, Stem Cell Research), End User (Biotechnology, Biopharmaceutical Companies, Research Institute), and Region (North America, Europe, APAC, Row) - Global Forecasts to 2023", published by MarketsandMarkets™, the market is expected to reach USD 324.5 Million by 2023 from USD 213.8 Million in 2018, at a CAGR of 8.7% from 2018 to 2023. Rising investments in regenerative medicine and cell-based research, growth of the biotechnology and biopharmaceutical industry, and increasing incidence of chronic and infectious diseases are the major factors that are driving the growth of this market.
Browse 67 market data Tables and 27 Figures spread through 101 Pages and in-depth TOC on "Cell Harvesting Market"
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By type, the manual cell harvesters segment dominated the market in 2017
On the basis of type, the market is segmented into manual and automated cell harvesters. In 2017, the manual cell harvesters segment accounted for the largest share of this market. The high share of the manual harvesters segment can be attributed to their ease of use and low price as compared to automated harvesters.
By end user, the biotechnology & biopharmaceutical companies segment dominated the market in 2017
In the end user, the Cell Harvesting Market is segmented into research institutes, biotechnology & biopharmaceutical companies, and other end users. In 2017, the biotechnology & biopharmaceutical companies segment accounted for the largest share of the cell harvesters market. The high share of this segment can be attributed to the high prevalence of chronic diseases. Biotechnology & biopharmaceutical companies conduct R&D activities to develop new products for the treatment of these diseases.
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Asia Pacific offers lucrative growth opportunities
By region, the global Cell Harvesting Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). While North America held the largest share of the market in 2017, Asia Pacific is expected to register the highest CAGR during the forecast period. As increasing R&D expenditure helps in the development of new treatment solutions, supportive government policies for stem cell research and increasing public-private initiatives to encourage public adoption of stem cell-based treatment in the Asia Pacific countries are driving the growth of the market in this region.
Some of the major players operating in the Cell Harvesting Market are PerkinElmer (US), Brandel (US), TOMTEC (US), Cox Scientific (UK), Connectorate (Switzerland), Scinomix (US), ADSTEC (Japan), and Terumo BCT (a part of Terumo Corporation) (Japan).
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