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Stem Cell Assay Market Size to Develop Lucratively by 2025
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The new developments in the field of stem cell assay research related to the claim of stem cell plasticity have caused controversies related to technical issues. In the study of stem cell assay, most conflicting results arise when cells express stem cell characteristics in one assay but not in another. The most important factor is that the true potential of stem cells can only be assessed retrospectively.
The retrospective approach refers to back drop analysis which provides quantitative or qualitative evaluation of stem cells. The development in embryonic & adult stem cells assay will be beneficial to the global stem cell assay market. Stem cell assays find applications in pharmaceutical & biotechnology companies, academic & research institutes, government healthcare institutions, contract research organizations (CROs) and others.
The influential factors like chronic diseases, increased investment in research related activities, and technological advancements in pharmaceutical & biotech industry is anticipated to drive the growth of the global stem cell assay market during the forecast period. The cost of stem cell based therapies could be one of the major limiting factor for the growth of the global stem cell assay market.
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The global stem cell assay market has been segmented on the basis of kit type, application, end user and region. The global stem cell assay market can be differentiated on the basis of kit type into human embryonic stem cell kits and adult stem cell kits.
The adult stem cell kit includes hematopoietic stem cell kits, mesenchymal stem cell kits, induced pluripotent stem cell kits (IPSCs), and neuronal stem cell kits. The adult stem cell kits are projected to witness the highest CAGR during the forecast period due to the ease of use, cost & effectiveness of this type of kit in stem cell analysis.
Based on application global stem cell assay market is based on drug discovery and development, therapeutics and clinical research. The therapeutics segment includes oncology, dermatology, cardiovascular treatment, orthopedic & musculoskeletal spine treatment, central nervous system, diabetes and others.
Depending on geographic segmentation, the global stem cell assay market is segmented into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to contribute significant share to the global stem cell assay market.
The stem cell assay market in Europe, has gained impetus from the government & industrial initiatives for stem cell based research and the market in Europe is expected to grow at a remarkable pace during the forecast period. The major players in the global stem cell assay market include GE Healthcare, Promega Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Cell Biolabs, Inc., Hemogenix Inc., Stemcell Technologies Inc., Bio-Rad Laboratories Inc., R&D Systems Inc., and Cellular Dynamics International Inc.
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