Cell Expansion Market Worth $14.8 Billion by 2019

pune, October 22, 2015 (Newswire.com) - The global cell Expansion market is expected to reach $14.8 billion by 2019 from $6.0 billion in 2014, growing at a CAGR of 19.7% from 2014 to 2019. Major factors driving growth of this market include increasing research activities, technological advancements, high prevalence of chronic diseases, and growth in government investments are likely to propel the growth of this market. However, high cost of instruments and ethical concerns for cell based research are expected to restrain the growth of this market.

North America dominates the cell expansion market with the U.S. accounting for a major market share. However, Asia is poised to grow at the highest CAGR during the forecast period owing to increasing government investments, rapidly expanding biotechnology and biopharmaceutical industries in this region, and rising focus of prominent players on the emerging markets such as China and India. In 2013, Thermo Fisher Scientific, Inc. established the China Innovation Centre in Shanghai. The center was developed to expand the company’s research, development, training, manufacturing, and commercial capabilities in the high-growth markets of the Asia-Pacific region. Such establishments help to increase the market share in these regions.

Prominent players in the cell expansion market are Becton, Dickinson and Company (U.S.), Corning Incorporation (U.S.), Danaher Corporation (U.S.), GE Healthcare (U.K.), Merck Millipore (U.S.), Miltenyi Biotec (Germany), STEMCELL Technologies (Canada), Sigma-Aldrich Corporation (U.S.), Terumo BCT (U.S.), and Thermo Fisher Scientific Inc. (U.S.).

On the basis of product, the cell expansion market is segmented into consumables and instruments. In 2014, the consumables segment is expected to account for the largest share of the global market, by product. The high share can be attributed to the extensive requirement of media in cell expansion process. The consumables market is further divided into reagents, media and serum, and disposables. The instrument market is segmented into automated cell expansion systems, bioreactors and supporting equipment. Supporting equipment include centrifuges, flow cytometers, filtration systems, incubators, microscopes, laminar air flow cabinets and others. The others segment includes strainers, water baths, vortex mixers, pipettes, and cell counters. The bioreactors segment is further categorized into micro carrier bioreactor and perfusion or hollow fiber bioreactors.