According to the new market research report “Cell Expansion Market by Product (Reagent, Media, Flow Cytometer, Centrifuge, Bioreactor), Cell Type (human, animal), Application (Regenerative Medicine & Stem Cell Research, Cancer), End user (Research Institute, Cell Bank) – Global Forecasts to 2021“, published by MarketsandMarkets™, the Cell Expansion Market is expected to grow from USD 8.34 Billion in 2016 to USD 18.76 Billion by 2021, at a CAGR of 17.6% between 2016 and 2021.
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The major factors driving the growth of this market are increasing government funding for research, high prevalence of chronic diseases, rising company investments for the development of cell-based products, and growing number of GMP-certified production facilities.
Oil & gas industry to account for largest size of Cell Expansion Market from 2018 to 2023
Recent uptrend in the oil & gas industry has boosted the demand for and increased the production of oil and gas in the Middle East and North America. Growing production of oil sands and shale gas fuels the demand for industrial valves in North America, while the increased investments in natural gas exploration and refineries will boost the demand for these valves during the forecast period. Additionally, technological advancements and the adoption of more innovative valves for oil and gas transportation are the major factors that are likely to have a positive impact on the industrial valve market growth.
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cell expansion market for cryogenic valves to grow at high CAGR from 2016 to 2021
On the basis of cell type, the cell expansion market is segmented into human cells and animal cells. The human cells segment is expected to account for the largest share of the global cell expansion market in 2016. This segment is expected to grow at the highest rate due to increasing research investments by public and private organizations. Human cells include stem cells and differentiated cells. The stem cells segment is classified into adult stem cells, embryonic stem cells, and induced pluripotent stem cells.
APAC is expected to hold largest share of cell expansion market from 2016 to 2021
The global cell expansion market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). North America will continue to dominate the global market in the forecast period. However, Asia is expected to witness the highest CAGR, with the growth in this market centered on China and India.
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Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Corning, Inc. (U.S.), GE Healthcare (U.K.), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT, Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.). are among a few major players in the cell expansion market.
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