Global Cell Expansion Market Landscape 2024-2029 Featuring Analysis of Thermo Fisher Scientific, Danaher Corp, Merck, Sartorius, Corning, and More
Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Global Cell Expansion Market Forecast to 2029" report has been added to * ResearchAndMarkets.com's* offering.
The global cell expansion market is projected to reach USD 26.7 billion by 2029 from an estimated USD 14.3 billion in 2024, at a CAGR of 13.3% during the forecast period of 2024 to 2029. The growth of this market can be attributed to increasing prevalence of chronic diseases. The rising rate of chronic diseases such as cancer is propelling the need of cell based therapies such as cell & gene therapy, tissue engineering, and regenerative medicine. The rising demand for innovative cell based therapies and novel therapeutics is propelling the need of cell expansion. This trend is expected to drive the growth of the cell expansion market in the coming years.
*The biopharmaceutical production segment accounted for the largest share of by application segment in 2023*
In 2023, the biopharmaceutical production segment accounted for the largest share of by application segment in the global cell expansion market. Biopharmaceutical production include monoclonal antibody production, vaccine production, and other therapeutic protein production. The growing investments and fundings for the development of novel drug products and rising demand for biological therapies such as monoclonal antibodies, vaccines, and therapeutic proteins are promoting the growth of biopharmaceutical production in cell expansion market.
*The US has continued to dominate the cell expansion market during the forecast period of 2024-2029*
The US dominated the cell expansion market in North America in 2023. The US is the world's largest biopharmaceutical market and a leader in biopharmaceutical research/investments. Additionally, the US is home to some of the world's leading academic research institutes, including Harvard University, Stanford University, and the Massachusetts Institute of Technology (MIT). These institutes conduct cutting-edge research in life sciences, including drug discovery and biotechnology, which involve adoption of cell expansion techniques, resulting to propel the market growth. Additionally, increasing fundings in the field of tissue engineering and regenerative medicine are also driving the growth of cell expansion market.
*Research Coverage*
This research report categorizes the cell expansion market by product (consumables and equipment), by cell type (human cells, animal cells, and other cell types), by application (biopharmaceutical production, tissue engineering & regenerative medicine, drug screening & development, and other applications), by end user (pharmaceutical & biotechnology companies, research & academic institutes, hospitals & diagnostic laboratories, and other end users), and by region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the cell expansion market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, solutions, key strategies, collaborations, partnerships, and agreements. Also, it include new product launches, collaborations and acquisitions, and recent developments associated with the cell expansion market.
*List of Companies Profiled*
· Thermo Fisher Scientific Inc. (US)
· Danaher Corporation (US)
· Merck KGaA (Germany)
· Sartorius AG (Germany)
· Corning Incorporated (US)
· Lonza (Switzerland)
· Terumo Corporation (Japan)
· Eppendorf SE (Germany)
· FUJIFILM Corporation (Japan)
· Bio-Techne (US)
· Repligen Corporation (US)
· Getinge AB (Sweden)
· Miltenyi Biotec (Germany)
· PerkinElmer Inc. (US)
· STEMCELL Technologies (Canada)
· PromoCell GmbH (Germany)
· HiMedia Laboratories (India)
· BD (US)
· Takara Bio Inc. (Japan)
· Shanghai Duoning Biotechnology Co. Ltd. (Japan)
· REPROCELL Inc. (Japan)
· PBS Biotech, Inc. (US)
· ACROBiosystems (US)
· Solida Biotech GmbH (Germany)
· Beijing CytoNiche Biotechnology Co. Ltd. (China)
· Neuromics (US)
· Bionet (Spain)
· Cellexus (UK)
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 597
Forecast Period 2024-2029
Estimated Market Value (USD) in 2024 $14.3 Billion
Forecasted Market Value (USD) by 2029 $26.7 Billion
Compound Annual Growth Rate 13.3%
Regions Covered Global
*Premium Insights*
· Growing Focus on Personalized Medicine to Drive Market
· Consumables Accounted for Largest Share of Asia-Pacific Cell Expansion Market in 2023
· China to Register Highest Growth Rate During Forecast Period
· Pharmaceutical & Biotechnology Companies Accounted for Largest Market Share in 2023
*Market Dynamics*
· Drivers
· Increasing Incidence of Chronic Diseases
· Rising Government Investments in Cell-based Research and Therapies
· Growing Focus on Personalized Medicine
· Increasing GMP Certifications for Cell Therapy Production Facilities
· Growing Strategic Alliances for Development of Cell-based Therapeutics
· Restraints
· Ethical Concerns Regarding Research in Cell Biology
· High Cost of Cell-based Therapies
· Opportunities
· High Growth Opportunities in Emerging Markets
· Growing Utility of 3D Cell Expansion Technology
· Growing Automation in Cell Therapy Manufacturing
· Challenges
· Concerns Regarding Supply Chain Logistics
· Challenges Related to Scale-Up of Cell and Gene Therapies
For more information about this report visit https://www.researchandmarkets.com/r/sps81c
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Global Cell Expansion Market
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900