Cell Expansion Market to 2027 – Global Analysis and Forecasts By Product, Cell Type, Application, End User and Geography
PUNE, INDIA, January 16, 2020 /EINPresswire.com/ — Reagents, Media, & Serum segment is expected to grow at a fast pace over the forecast period
According to new market research titled 'Cell Expansion Market to 2027 – Global Analysis and Forecasts by Product, Cell Type, Application, End User’, the global cell expansion market is projected to reach US$ 42,837.11 Mn in 2027 from US$ 11,929.43 Mn in 2018. The cell expansion market is expected to grow with a CAGR of 15.6% from 2019-2027. The report presents trends predominating in the global cell expansion market and the factors driving the market and also the factors that act as hindrances.
The global cell expansion market, based on the product, was segmented into consumables and instruments. In 2018, the consumables segment held the largest share of the market. Moreover, the consumables segment is expected to grow at the fastest rate during the coming year. These consumables are essential components of any laboratory experiment hence they are expected to witness significant growth during the forecast period. The other significant factor driving the growth of the market is the increasing adoption of consumables in research and development activity in cell expansion in the future.
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The significant factors fuelling the market growth are increasing adoption of regenerative medicines and rising prevalence of cancer. However, the risk contamination during cell expansion is expected to hamper the market during the forecast period.
The cell expansion market majorly consists of players such as BD, Merck KGaA, Thermo Fisher Scientific, Inc., Terumo Corporation, General Electric Company, Corning Incorporated, Miltenyi Biotec, Danaher, Lonza and STEMCELL TECHNOLOGIES, INC. among others. Several companies are concentrating on organic strategies, such as product launch and product approvals. For instance, in October 2019, Thermo Fisher Scientific, under its brand Gibco, introduced Gibco BenchStable Media.
Rising Prevalence of Cancer
Cancer is one of the major cause of human death worldwide. In recent years, the cases of cancer have been increasing tremendously and the trend is anticipated to remain the same in the upcoming years. According to the World Health Organization in 2018, approximately 9.6 million deaths across the globe were due to cancer. Furthermore, the National Cancer Institute predicted that in 2018, approximately 1,735,350 new cancer cases would be diagnosed in the US.
Changes in lifestyle have resulted in more exposure to oncogenic factors. Cancer can be cured if diagnosed and treated at an initial stage. Cancer sequencing using next-generation sequencing (NGS) methods provides more information. Additionally, cell expansion related procedures also aids in research, diagnostics and treatment of cancer.
Moreover, cancer is found to be commonly prevalent in European countries as well. As per the Cancer Research UK, in 2016, around 163,444 deaths in the UK were due to cancer.
Furthermore, Asia Pacific region is also facing the problem of the growing prevalence of cancer. The top 15 countries with Cancer prevalence are Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia. According to the National Institute of Cancer Prevention and Research (NICPR), in 2018, in India, total deaths due to cancer were 784,82, which thereby propels the market growth.
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Table of Content:
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Cell Expansion Market – By Product
1.3.2 Global Cell Expansion Market – By Cell Type
1.3.3 Global Cell Expansion Market – By Application
1.3.4 Global Cell Expansion Market – By End User
1.3.5 Global Cell Expansion Market – By Geography
2. Cell Expansion Market – Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Cell Expansion – Market Landscape
4.2 PEST Analysis
4.2.1 Cell Expansion Market – North America PEST Analysis
4.2.2 Cell Expansion Market – Europe PEST Analysis
4.2.3 Cell Expansion Market – Asia Pacific PEST Analysis
4.2.4 Cell Expansion Market – Middle East & Africa PEST Analysis
4.2.5 Cell Expansion Market – South and Central America PEST Analysis
4.3 Expert Opinions
5. Global Cell Expansion Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Adoption of Regenerative Medicines
5.1.2 Rising Prevalence of Cancer
5.2 Key Restraints
5.2.1 Risk Contamination During Cell Expansion
5.3 Key Opportunity
5.3.1 Middle Income Countries Creating Development Opportunities
5.4 Future Trend
5.4.1 Consistent Research in Drug Discovery Activities
5.5 Impact Analysis
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Source: EIN Presswire