Cell Expansion Market is estimated to be US$ 59.8 billion by 2029 and is anticipated to register a CAGR of 17.0%

The global cell expansion market accounted for US$ 14.5 billion in 2020 and is estimated to be US$ 59.8 billion by 2029 and is anticipated to register a CAGR of 17.0%

The report "Global Cell Expansion Market, By Product (Consumables and Instruments), By Cell Type (Human Cells and Animal Cells), By Application (Regenerative Medicine & Stem Cell Research, Cancer & Cell-based Research, and Other Applications), By End-user (Biopharmaceutical & Biotechnology Companies, Research Institutes, Cell Banks, and Other End Users), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.

Key Highlights:

In 2020, Danaher acquired the Biopharma business from General Electric Company's Life Sciences division. The division will be known as Cytiva and act as a standalone operating company within Danaher's Life Sciences segment.
In 2020, Eppendorf Group is expanding its production capacity at its Oldenburg, Holstein site in Germany. Eppendorf produces laboratory consumables made of high-quality plastic such as pipette tips and tubes, microtiter plates and single-use bioreactor vessels. Currently, due to the outbreak of COVID-19 these products are in particularly high demand from diagnostic laboratories and vaccine manufacturers around the world.
Analyst View:

Rising incidence of chronic diseases

Cell expansion is used in the production of drugs, vaccines, therapeutics, and antibiotics for the treatment of diseases. The increasing incidence of diseases such as diabetes and cancer has led to demand for widespread research to develop new treatment opportunities. As per data published by International Diabetes Federation (IDF), about 425 million people had diabetes in 2017, and this number is projected to reach 629 million by 2045. Cancer, which has become the foremost cause of death across the globe, estimated for 9.6 million deaths in 2018. Moreover, the growth in the prevalence of these diseases has demanded the need to conduct extensive research for their diagnosis and treatment. Cell expansion methods forms an important part of this research.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cell Expansion Market”, By Product (Consumables and Instruments), By Cell Type (Human Cells and Animal Cells), By Application (Regenerative Medicine & Stem Cell Research, Cancer & Cell-based Research, and Other Applications), By End-user (Biopharmaceutical & Biotechnology Companies, Research Institutes, Cell Banks, and Other End Users), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global cell expansion market accounted for US$ 14.5 billion in 2020 and is estimated to be US$ 59.8 billion by 2029 and is anticipated to register a CAGR of 17.0%. The market report has been segmented on the basis of product, cell type, application, end-user, and region.

By product, the consumables segment is further bifurcated into media, reagents, sera, and disposables. Instrument segmented is further bifurcated into cell expansion bioreactors, supporting equipment, and automated cell expansion systems. In 2019, consumables estimated for the maximum share of the cell expansion products market due to the growing production of vaccines and other biologics in the biotechnology and biopharmaceutical industries.
By cell type, the human cells segment is further classified into stem cells and differentiated cells. The stem cells segment is further divided into ESCs, adult stem cells, and iPSCs. In 2019, the human cells segment estimated for the maximum share of the cell expansion market. This is mainly attributed due to the growing investments by public and private organizations for research on human cells. Further, growing application areas of human stem cells and the rising incidence of diseases such as cancer also dominated the segment growth.
By application, the regenerative medicine and stem cell research estimated for the maximum market share in 2019 owing to growth in funding for the stem cell research and regenerative medicine.
By end-user, biotechnology & biopharmaceutical companies segment estimated for the maximum share in 2019 and will develop further at a substantial growth rate. Cell-based therapeutics in the healthcare industry is one of the key factors signifying to the large share of biopharmaceutical companies.
By region, North America estimated for the maximum share of 43.1% in 2019. The region will maintain its dominating position over the forecast period, owing to the growth in funding initiatives by the government agencies, which has driven the manufacture of stem cells and the development of regenerative medicine and cellular therapy products.
To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Cell-Expansion-Market-4389

Competitive Landscape:

The prominent player operating in the global cell expansion market includes Thermo Fisher Scientific, Inc., GE Healthcare, Corning, Inc., Merck KGaA, Sartorius AG, STEMCELL Technologies, Inc., Miltenyi Biotec, Becton, Dickinson and Company, Terumo Bct, Inc., and Takara Bio, Inc.