07 April 2023 | Friday | Analysis
Source : Mordor Intelligence
The rising prevalence of chronic diseases coupled with increasing research activities for cell-based research is found to be the major factor driving the cell expansion market. Cardiovascular disease (CVD) is the leading cause of mortality worldwide. According to the WHO, an estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths.
There is an increase in the prevalence of cancer patients that results in a large patient pool, which creates an opportunity for the manufacturers to tap and capitalize on the market. Hence there is an increase in the cases of chronic diseases that are expected to drive the overall market. Furthermore, technological advances in cell expansion devices and growth in government investments regarding healthcare issues are the factors propelling the market.
As per the scope of the report, cell expansion deals with the production of daughter cells that arise from a single cell. This process is used in therapeutic development, drug screening, and microlevel research of cells. Presently, cell expansion is widely used to improve transplantation and in the treatment of various diseases such as rheumatoid arthritis, diabetes, and others. Cell expansion also ensures to simplify the overall task and to reduce labor-intensive manual tasks that are associated with the process.
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Consumables | |||||
Reagents, Media, & Serum | |||||
Disposables | |||||
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By Cell Type | |
Human Cells | |
Animal Cells |
By Application | |
Regenerative Medicine and Stem Cell Research | |
Cancer and Cell-Based Research | |
Other Applications |
By End User | |
Biotechnology & Biopharmaceutical Companies | |
Research Institutes | |
Others |
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This section covers the major market trends shaping the Cell Expansion Market according to our research experts:
The consumables segment has been accounted for the largest share of the market and this is mainly due to the high demand during the production of regenerative medicine and rising research activities on stem cells in the biopharmaceutical companies. There is also a constant requirement for new reagents among end-users that helps in market growth. Furthermore, the rising awareness regarding advanced treatment therapies such as personalized medicine is also another driving factor for this segment.
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The increasing incidences of chronic and cell-based diseases and rising geriatric population are the key factors driving the overall market in this region. The rising investment made by the companies as well as the government for cell expansion research is also a factor driving the market in this region.
The Asia Pacific is poised to grow owing to rapidly expanding biotechnology and biopharmaceutical industries, increasing government investments for cancer and stem cell research and rising focus of prominent players on the emerging markets.
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There has been a presence of a considerable number of companies that are mainly focusing on agreements and expansions to strengthen its business operations. There are various established business players that are adopting numerous organic and inorganic growth strategies to increase their market share. New product launches, mergers and acquisitions, partnerships, and collaborations are the key strategies undertaken by these companies for sustainable growth.
Thermo Fisher Scientific, Inc.
Becton, Dickinson and Company
Terumo BCT
Merck KGaA
GE Healthcare
*Disclaimer: Major Players sorted in no particular order
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