The global stem cell assay market is expected to reach USD 1,363.3 million by 2021 from USD 536.6 million in 2016, at a CAGR of 20.5% from 2016 to 2021. Factors such as high prevalence of chronic diseases, increasing investment in research related activities, and technological advancements are driving the growth in the global stem cell assay market. However, stringent regulatory policies and the high cost of stem cell based therapies are the major factors restraining the growth of this market.
The global stem cell assay market has been segmented on the basis of type of assay, kit, detection, instrument, application, end-user, and region. The viability/cytotoxicity segment is expected to account for the largest and fastest-growing segment of the global stem cell assay market in 2016. The increasing focus of the pharmaceutical industries on drug screening hasresulted in the increase in demand for stem cell assays.
Based on kits, the stem cell assay market is segmented into adult stem cell kits and human embryonic stem cell kits. The adult stem cell kits are segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits (IPSCs), hematopoietic stem cells kits, umbilical cord stem cell kits and neuronal stem cell kits. The adult stem cell kits segment is estimated to witness the highest CAGR during the forecast period, 2016 to 2021. The high growth in this segment is associated with the effectiveness of this type of kit in cellular analysis.
Based on detection, the global stem cell assay market has been segmented into instruments and detection kits. The instruments segment is anticipated to grow at the highest CAGR from 2016 to 2021. The high growth in this segment is due to the rising demand for instruments from the research and medical services.
On the basis application, the global stem cell assay market is segmented into regenerative medicine &therapy development, drug discovery and development and clinical research. The regenerative medicine &therapy development is further classified in to orthopedic &musculoskeletal spine, cardiovascular, oncology, central nervous system, dermatology, diabetes and others. Among the applications, the regenerative medicine &therapy development segment is projected to witness the highest growth rate during the forecast period owing to the increase in incidences of chronic diseases which resulted in the increased demand for regenerative medicines.
Geographically, the global stem cell assay market is dominated by North America, followed by Europe, the Asia-Pacific region, and the Rest of the World (RoW). Growth in the North American region is due to the increasing incidence and prevalence of chronic diseases and an increasing patient pool in North American countries.
The major players in the global stem cell assay market include GE Healthcare (U.K.), Promega Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (U.S.), Cell Biolabs, Inc. (U.S.), Hemogenix Inc. (U.S.), STEMCELL Technologies Inc. (CA), Bio-Rad Laboratories, Inc. (U.S.), Bio-Techne Corporation (U.S.), and Cellular Dynamics International, Inc. (U.S.).
This report aims to provide insights on the global stem cell assay market. It provides valuable information on the type of assay, kit, detection, instrument, application, end-user, and regional segments of the global stem cell assay market. The report also covers the market dynamics which includes the drivers, restraints, opportunities and challenges of the global stem cell assay market. This report covers the competitive landscape of the top ten companies in the global stem cell assay market. The competitive landscape includes a comparison between the companies and the strategies adopted by them in order to continue their presence in the global stem cell assay market.
Value Addition for the Buyer:
The above mentioned information would benefit buyers by helping them understand the market dynamics. In addition, the forecasts provided in the report will enable firms to understand the trends in this market and better position themselves to capitalize on the growth opportunities. Apart from comprehensive geographic & 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 the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The abovementioned market research data, current market size, and forecast of future trends will help key market players and new entrants to make necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output, in order to remain successful in the global stem cell assay market.