Global Cell Expansion Market Set For Rapid Growth, to Reach USD 24921.3 Million

The global cell expansion market was valued at approximately USD 9838.7 million in 2017 and is expected to generate revenue of around USD 24921.3 million by end of 2024, growing at a CAGR of around 14.3 percent between 2018 and 2024. Cell expansion is a technique of producing daughter cells from a single cell in a controlled environment mostly carried in cell expansion bioreactors. Use of these bioreactors on a large scale is very useful and it reduces the labor and manpower and also reduces the cleaning process on a large scale. These generated cells are used for various purposes such as drug development, research, and others. It is also used for the improved transplantation and treatment of various diseases on a large scale. Cell expansion system consists of various components such as data storage, software, environment control unit, pump, and others. The cell expansion systems are used in the pharmaceutical and research sector for the mixing of the cultures properly and are highly reliable as compared to other conventional methods.

The global cell expansion market is mainly driven by the increase in the demand for regenerative medicine and chronic medical conditions. The generated daughter cells are used for the research purpose on a large scale which helps in the development of the new drug which is expected to fuel the growth of cell expansion market over the forecast period. There is also an increase in the awareness about stem cells and its advantages over the period of time, which has increased the demand for cell expansion market over the forecast period. Furthermore, increase in the research and development activities all over the world with various advanced technologies has also increased the demand for cell expansion which is expected to promote the growth of cell expansion market. However, the high cost of operation with skilled labor, stringent rules imposed by the government due to ethical issues associated with cell expansion market are factors expected to slow down the growth of cell expansion market over the forecast period.

Based on the product type, the cell expansion market is fragmented into consumables, instruments, and disposables. The consumables segment is expected to be the fastest growing segment over the forecast period. Based on application, the cell expansion market is classified as cancer and cell-based research, regenerative medicine and stem cell research and other. On the basis of the end user, the cell expansion market is segmented into biopharmaceutical and biotechnology companies, research institutes, cell banks, and other. On the basis of cell type, the cell expansion market is segmented into animal cells and human cells. Human cell segment is expected to grow at the fastest rate over the forecast period.

Global cell expansion market is regionally segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to hold the largest market share over the forecast period owing to the presence of developed economies such as the US, Canada, and others. Europe is expected to the second largest region for cell expansion market which is closely followed by the Asia Pacific and is expected to experience a rapid growth over the forecast period. Latin America and the Middle East and Africa are expected to grow considerably in the near future. Some of the major players of cell expansion market include Becton and Dickinson Company, Corning Incorporation, Danaher Corporation, GE Healthcare, Miltenyi Biotec, Merck Millipore, Sigma Aldrich Corporation, Stemcell Technologies, Terumo BCT, and Thermo Fischer Scientific Inc., among others. – Zion Market Research