Cell Expansion Market to Reach $39.03 Bn, Globally, by 2030 at 11.6% CAGR: Allied Market Research
- Rise in prevalence of chronic diseases, increase in government investments for cell-based research, and focus on R&D for cell-based therapies drive the growth of the global cell expansion market.
PORTLAND, Ore., Aug. 11, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Cell Expansion Market by Product (Consumable and Instrument), Application (Stem Cell Technology, Cancer Research, Drug Screening & Development, Tissue Engineering & Regenerative Medicine, and Others), and End User (Research Institutes, Pharmaceutical & Biotechnology Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global cell expansion market generated $13.06 billion in 2020, and is estimated to garner $39.03 billion by 2030, witnessing a CAGR of 11.6% from 2021 to 2030.
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Drivers, restraints, and opportunities
Rise in prevalence of chronic diseases, increase in government investments for cell-based research, and focus on R&D for cell-based therapies drive the growth of the global cell expansion market. However, high cost of cell-based therapies and ethical concerns regarding research in cell biology hinder the market growth. On the other hand, focus on personalized medicine creates new opportunities in the coming years.
Covid-19 Scenario
- During the Covid-19 pandemic, the demand for cell expansion products such as consumables including sera, media, and reagent and instrument increased considerably.
- As per the WHO ICTRP and the NIH ClinicalTrials.gov databases, 27 clinical investigations regarding MSC-based cell therapy approaches started in China since the outbreak of the COVID-19. Moreover, there has been a huge number of academic and industry trials conducted across the world.
- Stem cell research is one of the crucial applications of cell expansion and stem cell-based therapies showed considerable potential in studying Covid-19. So, the market for cell expansion experienced a positive impact.
The tissue engineering & regenerative medicine segment to continue its leadership status during the forecast period
Based on application, the tissue engineering & regenerative medicine segment accounted for the highest share in 2020, contributed to nearly two-fifths of the global cell expansion market, and is expected to continue its leadership status during the forecast period. This is due to recent advancements and increased funding for this application. However, the cancer research segment is estimated to witness the highest CAGR of 12.7% from 2021 to 2030, owing to surge in prevalence of cancer and cancer-related research.
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The pharmaceutical & biotechnology companies segment to maintain its lead position during the forecast period
Based on end user, the pharmaceutical & biotechnology companies segment held the highest share in 2020, contributing to more than three-fifths of the global cell expansion market, and is estimated to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 12.3% from 2021 to 2030. This is attributed to broadening the horizon of cell-based therapeutics in the healthcare industry, high burden of chronic diseases, and rise in R&D activities in the pharmaceutical and biotechnology industries. The research also analyzes the segments including research institutes and others.
North America to continue its dominance in terms of revenue by 2030
Based on region, North America accounted for the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global cell expansion market, and is expected to continue its dominance by 2030. This is due to development of animal-component free media, presence of automated cell culture system, and well-established healthcare demand for the biopharmaceutical products. Asia-Pacific is projected to portray the fastest CAGR of 13.2% during the forecast period, owing to constant expansion of the healthcare infrastructure, economic development, and low operating costs.
Leading Market Players
- Becton, Dickinson and Company
- Corning Incorporated
- Eppendorf
- Sartorius AG
- Merck KGaA
- Lonza Group AG
- PromoCell GmbH
- Danaher Corporation
- Thermo Fisher Scientific
- HiMedia Laboratories
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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