cell expansion Market

The global cell expansion market is projected to reach US$ 42,837.11 Mn in 2027 from US$ 11,929.43 Mn in 2018. The cell expansion market is expected to grow with a CAGR of 15.6% from 2019-2027.

Driving factors include increasing adoption of regenerative medicines, rising prevalence of cancer. However, the risk contamination during cell expansion is expected to hamper the market during the forecast period.

Cancer is one of the major cause of human death worldwide. In recent years, the cases of cancer have been increasing tremendously and the trend is anticipated to remain the same in the upcoming years. According to the World Health Organization in 2018, approximately 9.6 million deaths across the globe were due to cancer. Furthermore, the National Cancer Institute predicted that in 2018, approximately 1,735,350 new cancer cases would be diagnosed in the US.

Changes in lifestyle have resulted in more exposure to oncogenic factors. Cancer can be cured if diagnosed and treated at an initial stage. Cancer sequencing using next-generation sequencing (NGS) methods provides more information. Additionally, cell expansion related procedures also aids in research, diagnostics and treatment of cancer.

Furthermore, Asia Pacific region is also facing the problem of the growing prevalence of cancer. The top 15 countries with Cancer prevalence are Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia. According to the National Institute of Cancer Prevention and Research (NICPR), in 2018, in India, total deaths due to cancer were 784,821.

The global Cell Expansion market is segmented by product, cell type, application, end user. Based on product, the cell expansion market is segmented into consumables and instruments. In 2018, the consumables accounted for the largest market share in the global cell expansion market by product. These consumables are essential components of any laboratory experiment hence they are expected to witness significant growth during the forecast period. Based on cell type, the cell expansion market has been segmented into human cell and animal cell. Furthermore based on application the cell expansion market has been segmented into Regenerative Medicine And Stem Cell Research, Cancer And Cell-Based Research and Other Applications. Based in end user market is segmented into Biopharmaceutical And Biotechnology Companies, Research Institutes, cell banks and others.

Some of the essential primary and secondary sources included in the report are the National Institute of Cancer Prevention and Research (NICPR), Association for Management Education and Development, Center for Cancer Research, International Society for Stem Cell Research (ISSCR), American Association of Blood Banks (AABB), National Institute of Cancer Prevention and Research and others.