Report : Cell Expansion Market to 2027 - Global Analysis and Forecasts By Product (Consumables and Instruments); Cell Type (Human Cell and Animal Cell); Application (Regenerative Medicine & Stem Cell Research, Cancer and Cell-based Research, Other Applications); End User (Research Institutes, Biopharmaceutical & Biotechnology Companies, Cell Banks, and Other End Users ), and Geography
Reagents, Media, & Serum segment is expected to grow at a fast pace over the forecast period
According to The Insight Partners market research titled 'Cell Expansion Market to 2027 - Global Analysis and Forecasts by Product, Cell Type, Application, End User’, the global cell expansion market is projected to reach US$ 42,837.11 Mn in 2027 from US$ 11,929.43 Mn in 2018. The cell expansion market is expected to grow with a CAGR of 15.6% from 2019-2027. The report presents trends predominating in the global cell expansion market and the factors driving the market and also the factors that act as hindrances.
The global cell expansion market, based on the product, was segmented into consumables and instruments. In 2018, the consumables segment held the largest share of the market. Moreover, the consumables segment is expected to grow at the fastest rate during the coming year. These consumables are essential components of any laboratory experiment hence they are expected to witness significant growth during the forecast period. The other significant factor driving the growth of the market is the increasing adoption of consumables in research and development activity in cell expansion in the future.
The significant factors fuelling the market growth are increasing adoption of regenerative medicines and rising prevalence of cancer. However, the risk contamination during cell expansion is expected to hamper the market during the forecast period.
The cell expansion market majorly consists of players such as BD, Merck KGaA, Thermo Fisher Scientific, Inc., Terumo Corporation, General Electric Company, Corning Incorporated, Miltenyi Biotec, Danaher, Lonza and STEMCELL TECHNOLOGIES, INC. among others. Several companies are concentrating on organic strategies, such as product launch and product approvals. For instance, in October 2019, Thermo Fisher Scientific, under its brand Gibco, introduced Gibco BenchStable Media.
Global Cell Expansion Market, By Regions, 2018 (%)
The report segments global cell expansion market as follows:
Global Cell Expansion Market - By Product
Global Cell Expansion Market - By Cell Type
Global Cell Expansion Market - By Application
Global Cell Expansion Market - By End User
Global Cell Expansion Market - By Geography