The global stem cell assay market is anticipated to generate revenue of $3188.4 million by 2027 and grow at a CAGR of 18.05% between 2019 and 2027. 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 their regenerative potentials. The increasing adoption of stem cell assay for drug screening & testing is one of the major factors that is primarily 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. Increased adoption of stem cell assay, augmenting technology, expense in stem cell research are majorly driving 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.
The applications and types of the assay of stem cell assay market are used extensively for various purposes. The regenerative medicines & therapy development market is expected to dominate the global stem cell assay market. Regenerative medicine helps the natural remedial processes which work more effectively and more quickly.
The stem cell assay market by geography is segmented into North America, Europe, Asia-Pacific and the Rest of World. North America held the colossal markets share of xx% in 2018 in the 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.
The APAC region is anticipated to grow at a faster rate. The growing prevalence of chronic diseases such as cancer, cardiovascular disorders, etc. that have become the crucial development driver of the Asia Pacific 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.
Stem Cell Technologies, Fibrocell Science Inc., Corning Inc., GE Healthcare, Becton Dickinson, Stryker Corporation, R&D Systems, Thermo Fisher, Cellular Dynamics International (Holding Company Fujifilm), Promega Corporation, Hemogenix Inc., Cell Bio Labs, Inc., Merck Millipore (holding company is Merck KGaA), Takara Holdings Inc. and Bio-Rad are the major market players.