New York, NY, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cell Expansion Market by Product Type (Instruments, Consumables, and Disposables), by Application (Regenerative Medicine and Stem Cell Research, Cancer and Cell-based Research and Other Applications), and by End-user (Research Institutes, Biopharmaceutical and Biotechnology Companies, Cell Banks and Other End Users For Different Cell Type(Human Cells and Animal Cells)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2024”. According to the report, global cell expansion market was valued at approximately USD 9838.7 million in 2017 and is expected to generate revenue of around USD 24921.3 million by end of 2024, growing at a CAGR of around 14.3% between 2018 and 2024.
Cell expansion is a technique of producing daughter cells from a single cell in a controlled environment mostly carried in cell expansion bioreactors. Use of these bioreactors on a large scale is very useful and it reduces the labor and manpower and also reduces the cleaning process on a large scale. These generated cells are used for various purposes such as drug development, research, and others. It is also used for the improved transplantation and treatment of various diseases on a large scale. Cell expansion system consists of various components such as data storage, software, environment control unit, pump, and others. The cell expansion systems are used in the pharmaceutical and research sector for the mixing of the cultures properly and are highly reliable as compared to other conventional methods.
Browse through 71 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Cell Expansion Market: By Industry Type, Size, Market Share, Segments Analysis and Forecast, 2017 - 2024”.
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The global cell expansion market is mainly driven by the increase in the demand for regenerative medicine and chronic medical conditions. The generated daughter cells are used for the research purpose on a large scale which helps in the development of the new drug which is expected to fuel the growth of cell expansion market over the forecast period. There is also an increase in the awareness about stem cells and its advantages over the period of time, which has increased the demand for cell expansion market over the forecast period. Furthermore, increase in the research and development activities all over the world with various advanced technologies has also increased the demand for cell expansion which is expected to promote the growth of cell expansion market. However, the high cost of operation with skilled labor, stringent rules imposed by the government due to ethical issues associated with cell expansion market are factors expected to slow down the growth of cell expansion market over the forecast period.
Based on the product type, the cell expansion market is fragmented into consumables, instruments, and disposables. The consumables segment is expected to be the fastest growing segment over the forecast period. Based on application, the cell expansion market is classified as cancer and cell-based research, regenerative medicine and stem cell research and other. On the basis of the end user, the cell expansion market is segmented into biopharmaceutical and biotechnology companies, research institutes, cell banks, and other. On the basis of cell type, the cell expansion market is segmented into animal cells and human cells. Human cell segment is expected to grow at the fastest rate over the forecast period.
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North America is one of the developed regions for the cell expansion market due to the presence of developed countries such as the U.S., Canada, and others. These countries are way ahead in terms of technological advancements and constant increasing research and development activities are expected to promote the growth of cell expansion market. Furthermore, a constant increase in the regenerative medicine and drug development owing to the various chronic medical conditions is fueling the demand for cell expansion and are expected to support the growth of cell expansion market in this region.
Europe is the second largest growing region for cell expansion market due to the increased burden of chronic diseases, which in turn require new and effective medication thus increasing the demand of cell expansion market over the forecast period. Furthermore, increasing research activities are expected to further promote the growth of cell expansion market in the near future.
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The Asia Pacific is the third largest and fastest growing region for cell expansion market due to the various factors. The presence of developing economies and constant increase in the research activities are supporting the growth of cell expansion market. Developing regions such as India, China, Taiwan, and others have economical labor and improved infrastructure thus giving opportunities to various key players in the region. Furthermore, untapped opportunities in this region coupled with various strategic collaborations among market players are expected to fuel the growth of cell expansion market over the forecast period.
Browse the full "Cell Expansion Market by Product Type (Instruments, Consumables, and Disposables), by Application (Regenerative Medicine and Stem Cell Research, Cancer and Cell-based Research and Other Applications), and by End-user (Research Institutes, Biopharmaceutical and Biotechnology Companies, Cell Banks and Other End Users For Different Cell Type(Human Cells and Animal Cells)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2024" report at https://www.zionmarketresearch.com/report/cell-expansion-market
Latin America and the Middle East & Africa are expected to experience a slow growth owing to the increased burden of chronic diseases and increased support from government schemes are further expected to support the growth of cell expansion market in the near future.
Some of the major players of cell expansion market include Becton and Dickinson Company, Corning Incorporation, Danaher Corporation, GE Healthcare, Miltenyi Biotec, Merck Millipore, Sigma Aldrich Corporation, Stemcell Technologies, Terumo BCT, and Thermo Fischer Scientific Inc., among others.
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This report segments the global cell expansion market as follows:
Global Cell Expansion Market: Product Type Segment Analysis
- Instruments
- Consumables
- Disposables
Global Cell Expansion Market: Application Segment Analysis
- Regenerative Medicine and Stem Cell Research
- Cancer and Cell-based Research
- Other
Global Cell Expansion Market: End-User Segment Analysis
- Research Institutes
- Biopharmaceutical and Biotechnology Companies
- Cell Banks
- Other
Global Cell Expansion Market: Cell Type Analysis
- Human Cells
- Animal Cells
Global Cell Expansion Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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