by The Cell Expansion Market is estimated to be valued at US$ 17927.69 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The cell expansion market deals with the expansion or cultivation of mammalian, bacterial, and yeast cells. Cell expansion technologies help proliferate cells outside the body to be used later for various therapeutic applications. The end-use industries include biotechnology, research organizations, academic institutes, and cell therapy and pharmaceutical companies. Some key products in the market are consumables, media, and reagents, serum, buffy coats and growth factors / cytokines, disposables, and accessories.
Market Dynamics:
Consistent growth in regenerative medicine is expected to be a major driver for the cell expansion market during the forecast period. Cell expansion plays a critical role in regenerative therapies as these therapies rely on culturing and expanding a specific cell type. Growing research in the areas of cell therapy and personalized medicine is also fueling demand. Additionally, increasing instances of chronic and genetic diseases are propelling the need for cell-based treatments which require cell expansion techniques. For example, according to WHO estimates, 18 million new cancer cases were reported in 2018 globally. The rising prevalence of cancer and other chronic diseases is anticipated to boost market growth.
Segment Analysis
With rising incidence of chronic diseases, the pharmaceutical and biotechnology segment currently dominates the cell expansion market. The segment accounted for the largest market share in 2022 owing to increasing investments being made by pharmaceutical companies towards R&D activities involving development of new therapies. Moreover, growing adoption of cell-based research in the development of novel drug treatments is also driving demand for cell expansion products from pharmaceutical and biotechnology players.
PEST Analysis
Political: The cell expansion market is positively influenced by supportive government policies and funding towards stem cell research in several countries. For instance, the 21st Century Cures Act in the US provides funding to accelerate development of stem cell therapies.
Economic: The market is witnessing high growth driven by rising healthcare spending worldwide coupled with growing demand for advanced treatment options.
Social: Increasing incidence of chronic diseases and growing awareness about benefits of cell-based therapies are some of the key social factors augmenting demand for cell expansion products.
Technological: Continuous innovation in cell culturing techniques aimed at enhancing efficiency and automation is positively impacting the market. Advancements such as 3D bioprinting and microfluidics are also spurring opportunities.
Key Takeaways
The Global Cell Expansion Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period of 2023 to 2030, due to increasing incidence of chronic diseases. The market size for cell expansion is estimated to reach US$ 36,109.26 Mn by 2030 from US$ 17,927.69 Mn in 2023.
On the regional front, North America is expected to dominate the global cell expansion market during the forecast period. Presence of advanced healthcare infrastructure coupled with growing stem cell research activities in the region is driving the market.
Key players operating in the Cell Expansion Market are Becton, Dickinson and Company, Sartorius AG, Merck KGaA, Corning, Inc., Eppendorf SE, Lonza Group AG, PromoCell, Danaher, Thermo Fisher Scientific, HiMedia Laboratories, STEMCELL Technologies Inc., REPROCELL Inc., Bio-Techne, Valiant Co., Ltd., Miltenyi Biotec, Biologos, Cyagen US Inc. These players are focusing on new product launches and expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
