Cell Expansion Market Worth $26.7 billion | MarketsandMarkets Trademark

Browse 923 market data Tables and 54 Figures spread through 629 Pages and in-depth TOC on "Cell Expansion Market by Product (Consumables (Media, Sera, Reagents, Vessels), Equipment (Cell Expansion Systems, Bioreactors, Incubators)), Cell Type (Human, Animal (CHO, mESCs)), Application (Vaccines, mAbs, CGT), End User - Global Forecast to 2029
Cell Expansion Market [https://www.marketsandmarkets.com/Market-Reports/cell-expansion-market-194978883.html?utm_source=ABnewswire&utm_campaign=Paid&utm_content=Referral] in terms of revenue was estimated to be worth $14.3 billion in 2024 and is poised to reach $26.7 billion by 2029, growing at a CAGR of 13.3% from 2024 to 2029 according to a new report by MarketsandMarkets Trademark . Some factors contributing to the growth of the global market includes increasing R&D investments in cell based research, growing focus on personalized medicine, and increasing number of strategic alliances for the development of novel therapeutics. However, ethical concern regarding cell biology and high cost of cell-based therapeutics are expected to hinder market growth.

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The consumables segment accounted for the largest share of the product segment in the cell expansion market in 2023.

Based on products, the cell expansion market is segmented into consumables and equipment. Consumables segment dominated the market in 2023 and is expected to dominate the market in the forecast period. Consumables are further segmented into media, reagents, sera, vessels, and other consumables. The largest share of the segment is attributed to increasing research activities for the development of novel biopharmaceuticals.

The biopharmaceutical production segment is estimated to register the highest growth rate during the forecast period in the cell expansion market.

Based on application, the cell expansion market is segmented into biopharmaceutical production, tissue engineering & regenerative medicine, drug screening & development, and other applications. The biopharmaceutical production segment is estimated to register the highest growth rate during the forecast period. The rising demand for biopharmaceuticals such as vaccine, monoclonal antibodies, and therapeutic proteins due to increasing incidence of chronic diseases is anticipated to promote the growth of biopharmaceutical production segment in coming years.

The Asia Pacific region is the fastest-growing region of the cell expansion market in 2023.

Based on the region, the cell expansion market is segmented into major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register fastest growth in the cell expansion owing to the increasing research practices in the field of advanced therapies such as tissue engineering and regenerative medicine, high government investments & fundings for R&D, and growing biotechnology industries.

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Cell Expansion Market Dynamics:

Drivers:

* Increasing incidence of chronic diseases
* Government investments for cell-based research
* Growing focus on personalized medicine
* Increasing focus on R&D for cell-based therapies
* Increasing GMP certifications for cell therapy production facilities

Restraints:

* Ethical concerns regarding research in cell biology

Opportunities:

* Emerging markets

Challenge:

* Growth opportunities in emerging markets

Key Market Players of Cell Expansion Industry:

Key players in the cell expansion market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Sartorius AG (Germany), Corning Incorporated (US), Lonza (Switzerland), Terumo Corporation (Japan), Eppendorf SE (Germany), FUJIFILM Corporation (Japan), Bio-Techne (US), Repligen Corporation (US), Getinge AB (Sweden), Miltenyi Biotec (Germany), PerkinElmer Inc. (US), STEMCELL Technologies (Canada), PromoCell GmBH (Germany), HiMedia Laboratories (India), BD (US), Takara Bio Inc. (Japan), Shanghai Duoning Biotechnology Co., Ltd. (Japan), REPROCELL Inc. (Japan), PBS Biotech, Inc. (US), ACROBiosystems (US), Solida Biotech GmBH (Germany), Beijing CytoNiche Biotechnology Co., Ltd. (China), Neuromics (US), Bionet (Spain), and Cellexus (UK).

The primary interviews conducted for this report can be categorized as follows:

* By Respondent: Supply Side- 60% and Demand Side 40%
* By Designation: Managers - 55%, CXO & Directors - 20%, and Executives - 25%
* By Region: North America - 40%, Europe -25%, Asia-Pacific -25%, Latin America -5% and Middle East & Africa- 5%

Recent Developments of Cell Expansion Industry:

* In 2020, Danaher acquired the Biopharma business from General Electric Company's Life Sciences division. The division will be known as Cytiva and act as a standalone operating company within Danaher's Life Sciences segment.
* In 2020, Eppendorf Group is expanding its production capacity at its Oldenburg, Holstein site in Germany. Due to the growing demand for consumables for COVID-19 research, the company will be manufacturing consumables made of high-quality plastic, such as pipette tips and tubes and single-use bioreactor vessels, at the newly expanded site.
* In 2020, Applikon Biotechnology entered into a partnership with Sotelab to strengthen its presence in the advanced cultivation systems market in South America.
* In 2019, Thermo Fisher Scientific invested around USD 24 million in its Inchinnan, Scotland site to expand global bio-production capabilities with additional large-volume liquid manufacturing capacity for cell culture media to meet growing customer demand.

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