The cell expansion market is expected to reach USD18.76 billion by 2021 from USD 8.34 billion in 2016 at a CAGR of 17.6%. The global cell expansion market is segmented based on product, cell type, application, end user, and region. The consumables segment is expected to register the highest growth rate in the cell expansion market, byproduct, during the forecast period. The high growth in this segment is attributed to the increasing investments in cell-based research.
Based on end user, the cell expansion market is segmented into research institutes, biopharmaceutical and biotechnology companies, cell banks, and others. The research institutes segment is expected to account for the largest share of the market in 2016. The increasing prevalence of diseases and the need to develop new therapies will drive the growth of this market.
Geographically, the cell expansion market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in the North American segment is primarily driven by rising government funding for research in the North American countries.
The major factors contributing to the growth of the cell expansion market include increasing government funding for research, high prevalence of chronic diseases, and growing number of GMP-certified production facilities. Furthermore, increasing R&D spending and new product development activities by companies is another major factor driving the growth of this market.
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise product portfolios, developments, and strategies adopted by market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, changes in strategic approach, and levels of output in order to remain successful in the market.
The major players in this market include Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Corning, Inc. (U.S.), GE Healthcare (U.K.), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT, Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.).
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the cell expansion market. The report analyses the cell expansion market byproduct, cell type, application, end user, and region
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the cell expansion market
- Competitive Assessment: In-depth assessment of market strategies, geographic and business segments, and product portfolios of leading players in the cell expansion market
- Market Development: Comprehensive information about emerging markets. This report analyses the market for various cell expansion market products across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cell expansion market