Cell Expansion Market by Cell Type, Product, End Users & Forecast - 2024

The growth of the global cell expansion market is primarily driven by the growing prevalence of chronic diseases and increasing investments offered by the governments to fuel cell based research. The growth of the global market is also being driven by increasing focus on customized and personalized medicine. Additionally, rising onus on the research and development activities on the cell based therapies and rising GMP certifications for production facilities for cell therapy are also important for driving the growth of the global cell expansion market.

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The competitive landscape of the global cell expansion market is fairly consolidated in nature. The companies in the global market are eyeing to get at the top of the pyramid with the help of advanced research and development activities. Naturally, the companies are investing heavily in such R&D activities and are coming up with new cell applications and cell lines. These companies are also concentrating on product differentiation in order to strengthen their overall market position. Naturally, such developments are expected to drive the development of the market and further intensify the competition. The companies in the global cell expansion market are also expected to resort to aggressive growth strategies such as mergers, takeovers, acquisitions, strategic partnerships and alliances in order to stay ahead of their competitive rivals.

Some of the key developments in the global cell expansion market are given below:

In 2016, Thermo Fisher Scientific Inc. announced that the company has acquired Affyetrix Inc. a US based company. Thermo Fisher announced that the company invested US$1.3 billion for this deal. This takeover helps the company to improve their product portfolio in the field of genetic and cellular analysis.
In 2017, Becton Dickenson and Company announced that they have received a 501(k) clearance for its BD FACSLyric flow cytometer system.
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Global Cell Expansion Market: Snapshot

The global cell expansion market is fairly consolidated with the top eight players accounting for most of the market share. Majority of the top players, with an aim of furthering their market share, are expending a lot of money and time on research and development in order to come up with new cell lines and applications. They are also focusing hard on product differentiation to bolster their positions. On account of this, competition is robust in the market for cell expansion.

Providing tailwinds to the global cell expansion market is the growing prevalence of rare and chronic conditions and also the continued rise in demand for biopharmaceuticals. Growing demand for regenerative medicines that provide faster results and cell-based therapies that have high patient compatibility are also said to be stoking market growth.

High cost involved in operations due to the need for skilled workforce and high tech instrumentation, however, is acting as a deterrent for the market. Strict rules and regulations pertaining to cell expansion processes owing to the ethical concerns surrounding it too is crimping market growth to an extent.

However, despite all obstacles, the market will likely clock a robust CAGR of 14.7% between 2016 and 2024, finds a report by Transparency Market Research. Growing at this pace, the report predicts the market to attain a value of US$26 bn by 2024-end from US$7.737 bn in 2015.

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cell expansion market

Increase in Chronic Diseases Propels Market for Human Stem Cells

The global cell expansion market can be broadly divided into human stem cells, human differentiated cells, and animal cells based on the types of cells. Of them, the human stem cell segment accounts for a leading share in the market vis-�-vis revenue due of the increasing instances of various chronic diseases and support provided by the government. In 2016, it held a substantial 58.1% share in the overall revenue in the global cell expansion market.

The animal cell segment, on the other hand, is also predicted to grow at an impressive 14.6% CAGR from 2016 to 2024 to become worth US$ 7,432.6 Mn by 2024 on the back of demand for development of vaccines against some parasitic and viral diseases.

North America Market Shines due to Presence of Key Players in the Region

Geographically, the global cell expansion market can be segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. North America, of them, is the leading market. In 2016, it held a 39.3% share in the market. The regions dominant share is the result of a large number of prominent players domiciled there and the increasing spends on research and development in the area. In the years ahead, North America is predicted to trim its market share and by 2024 it is slated to hold 37.7% share. It will still retain its leading share, however by rising at a 14.7% CAGR during the period from 2016 to 2024.

In terms of growth rate, Asia Pacific will expected to outpace all other regions by clock a stellar CAGR of 16.4% between 2016 and 2024. This is because of the key players keen on tapping into the opportunities in the emerging economies in the region such as India and China. Besides, growing number of market participants from the nations of Japan, Australia, India, and China is also majorly filliping the cell expansion market in Asia Pacific. The trend of outsourcing research processes to low cost destinations in Asia Pacific and the availability of expertise in the region has also been stoking growth.

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