The global cell expansion market in terms of revenue was estimated to be worth $14.3 billion in 2024 and is poised to reach $26.7 billion by 2029, growing at a CAGR of 13.3% from 2024 to 2029.
Some factors contributing to the growth of the global market includes increasing RD investments in cell based research, growing focus on personalized medicine, and increasing number of strategic alliances for the development of novel therapeutics. However, ethical concern regarding cell biology and high cost of cell based therapeutics are expected to hinder market growth.
DOWNLOAD PDF BROCHURE: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=194978883
The consumables segment accounted for the largest share of the product segment in the cell expansion market in 2023.
Based on products, the cell expansion market is segmented into consumables and equipment. Consumables segment dominated the market in 2023 and is expected to dominate the market in the forecast period. Consumables are further segmented into media, reagents, sera, vessels, and other consumables. The largest share of the segment is attributed to increasing research activities for the development of novel biopharmaceuticals.
The biopharmaceutical production segment is estimated to register the highest growth rate during the forecast period in the cell expansion market.
Based on application, the cell expansion market is segmented into biopharmaceutical production, tissue engineering regenerative medicine, drug screening development, and other applications. The biopharmaceutical production segment is estimated to register the highest growth rate during the forecast period. The rising demand for biopharmaceuticals such as vaccine, monoclonal antibodies, and therapeutic proteins due to increasing incidence of chronic diseases is anticipated to promote the growth of biopharmaceutical production segment in coming years.
The Asia Pacific region is the fastest-growing region of the cell expansion market in 2023.
Based on the region, the cell expansion market is segmented into major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register fastest growth in the cell expansion owing to the increasing research practices in the field of advanced therapies such as tissue engineering and regenerative medicine, high government investments fundings for RD, and growing biotechnology industries.
Key players in the cell expansion market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Sartorius AG (Germany), Corning Incorporated (US), Lonza (Switzerland), Terumo Corporation (Japan), Eppendorf SE (Germany), FUJIFILM Corporation (Japan), Bio-Techne (US), Repligen Corporation (US), Getinge AB (Sweden), Miltenyi Biotec (Germany), PerkinElmer Inc. (US), STEMCELL Technologies (Canada), PromoCell GmBH (Germany), HiMedia Laboratories (India), BD (US), Takara Bio Inc. (Japan), Shanghai Duoning Biotechnology Co., Ltd. (Japan), REPROCELL Inc. (Japan), PBS Biotech, Inc. (US), ACROBiosystems (US), Solida Biotech GmBH (Germany), Beijing CytoNiche Biotechnology Co., Ltd. (China), Neuromics (US), Bionet (Spain), and Cellexus (UK).
Read Full Report: https://www.marketsandmarkets.com/Market-Reports/cell-expansion-market-194978883.html
