Cell Expansion Market Expected to Expand at a Steady CAGR through 2027 | Lonza, Danaher,Corning Incorporated, Terumo Corporation

The report provides trends prevailing in the global cell expansion market and the factors driving the market along with those that act as hindrances. The key factors that are driving the growth of the market are the increasing adoption of regenerative medicines, rising prevalence of cancer. However, the risk contamination during cell expansion is expected to hamper the market during the forecast period.

The Insight Partners 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.

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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.

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 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 factors contributing to the growth of cell expansion market in the countries of Asia Pacific are the rising development of cell expansion and a growing number of research and development activities in the field of life science. Furthermore, the presence of supportive government initiatives and research in the field of regenerative medicines also boosts the market growth.

The report segments global cell expansion market as follows:

By Product-

Consumables
Instruments

By Cell Type-

Human Cells
Animal Cells

By Application-

Regenerative Medicine and Stem Cell Research
Cancer and Cell-based Research
Other Applications

By End User-

Biopharmaceutical and Biotechnology Companies
Research Institutes
Cell Banks

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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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This release was published on openPR.