The global market for stem cell assay is anticipated to upsurge at a CAGR of 21.79% during the forecast period of 2017-2025. Growing investment in the research activities is the key factor intensifying the growth of the stem cell assay. Stem cells are extensively investigated owing to its regenerative potentials. The increasing adoption of stem cell assay for drug screening & testing is one of the major reasons driving the industry research market.
The global stem cell assay market is segmented on the basis of types of assay, product, kits, application, end-user and geography. The global stem cell assay market by type is segmented into cell viability and toxicity assays, isolation and purification assays, cell identification assays, cell differentiation assays, cell function assays and cell apoptosis assays. The product of global stem cell assay is segmented into instruments and detection kits. The kits of stem cell assay market are further segmented into adult stem cell kits, human embryonic stem cell kit. The stem cell market by application is further bifurcated into regenerative medicine and therapy development, drug discovery and development and clinical research market. The end-user of stem cell market is segmented into research institutes and industry research. The stem cell assay market by geography is segmented into North America, Europe, Asia-Pacific and rest of the world. Increased Adoption of Stem Cell Assay, augmenting Technology, expense in Stem Cell Research are the major drivers for the market growth. The rising adoption of stem cell assay for drug screening& testing is one of the major reasons driving the industry research market.
North America held the colossal markets share of 37.4% in 2016 in global stem cell market. The growth in the North America stem cell assay market is mainly driven by the growing prevalence of chronic diseases such as cancer, cardiovascular diseases, and rise in the research and development spending in the biotechnology sector. APAC region is anticipated to grow at a faster rate. The growing prevalence of the chronic diseases such as cancer, cardiovascular disorders etc. have become the key growth driver of the Asia Pacific stem cell assay market. The rising prevalence of chronic disorders and an increase in the patient pool in India and moreover the growing biotechnology industry in the country is increasing the growth in the India stem cell assay market. The Europe stem cell assay market is mainly driven by the rising prevalence of chronic disorders such as cancer and cardiovascular disorders. Moreover, the rising healthcare spending is also boosting the growth in the Europe stem cell assay market.
Major players in the Stem cell assay markets are Promega Corporation, cell bio labs, Inc., GE healthcare, Thermo fisher scientific Pvt Ltd, Merck Millipore (holding company is Merck K GAA), Hemogenix Inc., Stem cell technologies, Bio-rad, R &D systems, Cellular dynamics international (holding company Fujifilm).