Seattle, WA -- (SBWIRE) -- 10/19/2016 -- The global stem cell assay market is expected to reach USD 1,363.3 Million by 2021 from USD 536.6 Million in 2016, at a CAGR of 20.5% from 2016 to 2021. Factors such as increasing incidence of chronic diseases and increasing investments in the research related activities are driving the growth of this market.
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In this report, the global stem cell assay market has been segmented based on type of assay, by kits, by detection, by instruments, by application, end-user, and region. On the basis of type, the market has been segmented into viability/cytotoxicity, isolation & purification, cell identification, proliferation, differentiation, function and apoptosis. The viability/cytotoxicity segment is expected to account for the largest share of the market in 2016. The high growth in this segment is primarily attributed to the increasing focus of the pharmaceutical industries on drug screening which resulted in the increasing the demand for stem cell assays.
Based on kits, the stem cell assay market has been segmented into adult stem cell kits and human embryonic stem cell kits. The adult stem cell kits are further segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits (IPSCs), hematopoietic stem cell kits, umbilical cord stem cell kits and neuronal stem cell kits. The adult stem cell kits segment is projected to witness the highest CAGR from 2016 to 2021. The high growth in this segment can be primarily attributed to the effectiveness of this type of kits in cell analysis.
Based on application, the global stem cell assay market is segmented into regenerative medicine & therapy development, drug discovery and development and clinical research. The regenerative medicine & therapy development segment is further segmented into orthopedic & musculoskeletal, spine, cardiovascular, oncology, central nervous system, dermatology, diabetes and others. The regenerative medicine & therapy development segment is projected to witness the highest growth rate during the forecast period due to the increase in incidences of chronic diseases which further leads to the increased demand for regenerative medicines.
Based on regions, the global stem cell assay market is segmented into North America, APAC, Europe, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. Growth in this regional segment is driven by factors such as increase in the patient pool and initiatives taken by the government for stem cell based research.
Key players in the stem cell assay market include GE Healthcare (U.K.), Promega Corporation (U.S.), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), Cell Biolabs, Inc. (U.S.), Hemogenix (U.S.), STEMCELL Technologies Inc. (CA), Bio-Rad Laboratories, Inc. (U.S.), Bio-Techne Corporation (U.S.), and Cellular Dynamics International Inc. (U.S.).
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