According to Stratistics MRC, the Global Cell expansion market is accounted for $7.23 billion in 2015 and is expected to reach $23.86 billion by 2022 growing at a CAGR of 18.59%. Increasing R&D investments by government as well as companies on new cell based products, rising occurrence of chronic diseases and advancements in technology are some of the factors driving the market. However, high costs of cell based research and inflexible government regulations are the factors restricting the market growth.
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Human cells segment is expected to witness the highest share during the forecast period. The favourable growth is attributed to high R&D investments. North America accounted for the largest share in the market owing to R&D investments. Asia Pacific is expected to register the highest CAGR during the forecast period.
Some of the key players in global cell expansion market include Sigma Aldrich Corporation, Acea Bioscience, Inc., Thermo Fisher Scientific, Inc., Alere Inc., Danaher Corporation, 300Microns Gmbh, GE Healthcare, Becton, Dickinson and Company, Terumo BCT, Inc., Miltenyi Biotec, Merck KGAA, Corning, Inc., Stemcell Technologies, Axol Bioscience, Lonza Group Ltd., Beckman Coulter, Inc. , Abec Inc and Applikon Biotechnologies.
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