The study involved four major activities in estimating the current size of the cell expansion market. Exhaustive secondary research was done to collect information on the market and its different sub-segments. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and sub-segments.
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Major Market Growth Drivers:
Growth in Cell expansion instruments market is driven mainly by the increasing incidence of chronic diseases, government investments for cell-based research, the growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and growing GMP certifications for cell therapy production facilities.
Revenue Growth Analysis:[354 Pages Report] The global cell expansion market size is estimated to be USD 14.9 billion in 2020 and projected to reach USD 30.1 billion by 2025, at a CAGR of 15.1%.
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595 – Tables
33 – Figures
354 – Pages
By product, the consumables segment accounted for the largest share of the cell expansion market in 2019.
Based on the product, the cell expansion market is segmented into consumables and instruments. The consumables segment is further segmented into reagents, media, sera, and disposables, while instruments are segmented into cell expansion supporting equipment, bioreactors, and automated cell expansion systems. In 2019, consumables accounted for the largest share of the cell expansion products market owing to the increasing production of vaccines and other biologics in the biopharmaceutical and biotechnology industries.
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By application, the regenerative medicine and stem cell research segment accounted for the largest share of the cell expansion market in 2019.
Based on application, the Cell expansion instruments market has been segmented into regenerative medicine and stem cell research, cancer & cell-based research, and others. The regenerative medicine and stem cell research segment accounted for the largest market share in 2019 due to the increased funding for regenerative medicine and stem cell research.
North America accounted for the largest share of the Cell expansion instruments market in 2019.
North America accounted for the largest share of the cell expansion instruments market in 2019. The large share of this segment can primarily be attributed to the rising incidence of cancer, increasing government funding, rising research activates on stem cell therapies, growing awareness regarding advanced treatment methods, growing geriatric population, and the strong presence of industry players in the region.
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Key Market Players:
The key players operating in the global AI in Medical Diagnosis Market are Thermo Fisher Scientific (US), Danaher (US), Becton, Dickinson and Company (US), Lonza (Switzerland), Corning (US). Merck (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies Inc. (Canada), Sartorius Stedim Biotech (France), and Terumo (Japan). Start-up companies include REPROCELL (Japan), iXCells Biotechnologies (US), Neuromics (US), G&G technologies (US), and Celltainer Biotech (Netherlands).