The global Cell Expansion market is estimated to grow at CAGR of 18.1% during 2016-2022. The Cell Expansion is segmented on the basis of application, cell type, product, end user and geography. The application segment is segmented into Cancer and Cell-Based Research, Regenerative Medicine and Stem Cell Research and Others. The end user segment is also segmented into Biopharmaceutical and Biotechnology Companies, Cell Banks, Research Institutes and Others. The cell type segment is segmented into Animal Cells and Human Cells.
The Cell Expansion market is dominated by some of the major key players such as Becton, Dickinson and Company, Bioheart, Corning, Inc., Medtronic’s PLC, Celgene Corporation, GE Healthcare, Lonza Group Ltd., Merck KGAA, Stemcell Technologies, Stryker Corporation, Thermo Fisher Scientific, Inc. In 2015, the Medtronic has announced that they had completed the acquisition of Covidien plc. Was an Irish-headquartered global health care products company and manufacturer and supplier of medical devices.
The Increased funding by government and private firms in research and development are snowballing the scope of Cell Expansion market. Although the growing and increasing healthcare spending across the globe is also driving the growth in the global Cell Expansion market. The rising prevalence of chronic diseases in the world are creating huge scope for Cell Expansion market. However, the increasing technology advancement is one of the key factor which is generating huge scope in Cell Expansion market. In last decade there are a lot of mergers, acquisition and other strategic initiative taken by various key players to develop the new technology in the Cell Expansion market.
The Cell Expansion market is majorly driven by prevalence of chronic lifestyle diseases is increasing the scope of Cell Expansion in the global market. However, the Ethical Issues for Research and Development to Use of Embryonic Stem Cell and Stringent Government policies may hinder the growth in the global Cell Expansion market. The global Cell Expansion market is having huge opportunities such as Huge growth opportunity in the emerging countries, New 3d cell expansion technology and increasing spending on the research and development of Cell Expansion is expected to contribute a lot in the growth of global Cell Expansion market and Untapped Asia Pacific region has huge scope for Cell Expansion market.
North America dominates the Cell Expansion market, the domination is due to presence of some key player of Cell Expansion who are dominating and contributing the large share in the global market. The growth of North America is driven by number of factors such as technological advancement, expansion in product innovation and increasing in number of patients of diabetes and orthopedic. APAC is the fastest growing region in the world. The APAC is growing with an impressive CAGR in the forecasted period. The growth is driven by growing demand for stem cell therapy is excepted to boost the Asia Pacific Cell Expansion market. The growing demand for low cost treatment in the world is also injecting huge growth opportunity in the Asia Pacific region.