The stem cell assay market is expected to reach USD 1,978.7 Million by 2023 from USD 791.9 Million in 2018, at a CAGR of 20.1%
Factors driving the growth of this market include the availability of funding for stem cell research and rising incidences of chronic diseases.
Technological advancements in stem cell research instruments and introduction of novel stem cell products; and the growth of end-use industries are some other factors supporting the growth of the market.
Major industry players adopted product launches and partnerships & agreements to maintain and improve their position in the stem cell assay market.
Thermo Fisher Scientific (US), Merck (Germany), GE Healthcare (US), Bio-Rad Laboratories (US), and Promega Corporation (US) have been identified as key players in this market. These companies have a broad product portfolio with comprehensive features and have also expanded their presence geographically. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.
Target Audience for this Report:
- Manufacturers and vendors of stem cell assays
- Research associations involved in stem cell research
- Various research and consulting firms
- Distributors of stem cell assays
- Contract research manufacturers of stem cell assays
- Healthcare institutions
- Research institutes
The factors such as the high degree of consolidation and a complex regulatory framework for the approval of new products may restrain the market’s growth to a certain extent.
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