north america cell expansion Market

In North America, the cell expansion market, is anticipated to reach US$ 14,697.41 Mn in 2027 from US$ 4,522.07 4 Mn in 2019. The market is projected to grow with a CAGR of 15.9% from 2020-2027.

The growth in North America is characterized by increasing prevalence of cancer across the region, new product launches and increasing inclination of patients towards regenerative and personalized medicines. Also, growing R&D expenditure for cancer research are likely to have a positive impact on the growth of the market in the coming years. In addition, technological advancements and extensive development in drug discovery in the pharmaceutical industry is likely to stimulate the growth of cell expansion market in North America.

Cell expansion is the large scale artificial production of daughter cells from a single cell, to support medical research. The process of cell expansion plays a critical role in enhancing the benefits and uses of fully differentiated as well as stem cell cultures for their use in therapeutics, drug screening tools or advanced research purposes.
Research and development (R&D) is a significant part of the company?s business. Pharmaceutical and biotech companies focus on research and development (R&D) to come up with new molecules for various therapeutic applications with the most significant medical and commercial potential. The companies invest majorly in the R&Ds to deliver high quality and innovative products to the market.

R&D spending by biopharmaceutical companies has also grown over the last years. As per the report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expense of the biopharmaceutical companies has grown from US$ 49.6 billion in 2012 to US$ 58.8 billion in 2015. Several government organizations are working to enhance the detection and treatment of cancer in the region. The National Cancer Institute spends on various categories of the treatment, including specific cancer sites, cancer types, diseases related to cancer, as well as types of NCI research mechanisms. For instance, as per the data of the National Cancer Institute in 2018, the funding for cell expansion research was approximately US$ 208.4 Mn in 2017 from the total budget of US$ 5,636.4 Mn in 2017 for all cancer research studies. Therefore, the growing R&D expenditure for cancer research by pharmaceutical and biotech companies is expected to provide opportunities for the growth of the market.

The North America cell expansion market, based on cell type, has been segmented into human cells and animal cells. The human cells segment held a largest share of the market in 2018. Moreover, this segment is anticipated to register the highest CAGR in the market during the forecast period. Rise in research activities done for the treatment of cancer is expected to offer considerable growth opportunities for the human cells segment.

Some of the significant primary and secondary sources for cell expansion included in the report are World Health Organization (WHO), Food and Drug Administration (FDA), Canadian Cancer Society, Centers for Disease Control and Prevention (CDC), American Cancer Society and others.