Cell Expansion Market Share Analysis of Top Companies to Grow at a CAGR of 11.6% by 2030

Cell extensions

Growing opportunities in emerging economies and emphasis on personalized medicine is also creating a lucrative opportunity for market growth.

PORTLAND, OR, UNITED STATES, September 20, 2021 /EINPresswire.com/ – The increasing prevalence of chronic diseases such as diabetes, cancer, rheumatoid arthritis, as well as increasing public funding for research cells are driving the growth of the global cell expansion market. In addition, technological advancements in cell expansion techniques, increasing investment in cell-based products, and emphasis on R&D for cell-based therapies are driving the market growth. However, the high running cost required for cell expansion techniques is hampering the growth of the market. Besides, the shortage of trained professionals and ethical concerns regarding cell biology research are some of the factors that are hampering the growth of the market. On the contrary, the growing opportunities in emerging markets and the growing focus on personalized medicine create opportunities for manufacturers to tap into and capitalize on the market.

The global cell expansion market was valued at $ 13.06 billion in 2020 and is expected to reach $ 39.03 billion by 2030, registering a CAGR of 11.6% from 2021 to 2030.

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Covid-19 scenario:

• The Covid-19 pandemic, followed by containment, affected several manufacturing industries.
• The prolonged containment has resulted in a disruption of the supply chain and an increase in the prices of raw materials.
• However, as the world recovers from the pandemic, the market is expected to get back on track.

COVID-19 is a large family of viruses that cause illnesses ranging from the common cold to more serious respiratory illnesses. The COVID-19 pandemic has helped the industry grow significantly, as the demand for cell expansion products such as consumables, including sera, media, reagents, and instruments, has increased. Cellular approaches, primarily using mesenchymal stromal cells (MSCs), offer a promising approach to mitigate the adverse effects of COVID-19 infection. This therapy has been shown to reduce the expression of pro-inflammatory cytokines as well as the repair of damaged tissue in COVID-19 patients. This allows the cell expansion market to gain momentum during the forecast period.

The cell extension market is segmented on the basis of product, application, end user, and region. By product, the market is segmented into consumable and instrument. The consumables segment dominated the global market in 2020 and is expected to continue this trend during the forecast period. This is attributed to key factors such as the increased production of vaccines and other biologics in the biopharmaceutical and biotechnology industries.

On the basis of application, the cell expansion market is segmented into stem cell technology, cancer research, drug screening and development, tissue engineering and regenerative medicine, etc. Others are again classified as clinical studies and toxicological studies. The Tissue Engineering and Regenerative Medicine segment is expected to represent the highest revenue during the forecast period, due to recent advancements in regenerative medicine and tissue engineering and the increase funding for regenerative medicine.

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By end user, the cell expansion market is divided into research institutes, pharmaceutical and biotechnology companies and others. Others are again segmented into CRO, forensic laboratories and diagnostic laboratories.

Pharmaceuticals and biotechnology companies held the largest market share in 2020 and are expected to remain dominant throughout the forecast period, owing to the broadening of the horizon of cell therapies in the healthcare industry, the burden high chronic diseases and increasing R&D activities in the pharmaceutical and biotechnology industries.

North America accounted for the largest share of the global cell expansion market in 2020 and is expected to remain dominant throughout the forecast period. This has been attributed to increased cancer incidences, increased government funding, increased research activity on stem cell therapies, increased awareness of advanced treatment methods, geriatric population. growing and strong presence of industry players in the region.

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The main key players are:

Becton, Dickinson and Company, Corning Incorporated, Eppendorf, Sartorius AG, Merck KGaA, Lonza Group AG, PromoCell GmbH, Danaher Corporation, Thermo Fisher Scientific and HiMedia Laboratories.

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