Market Research Future Published a Half Cooked Research Report on Global Stem Cell Assay Market Research Report. Growing biotechnology sector and increasing prevalence of diseases like cancer will grow the global stem cell assay market at ~CAGR of 19.80% during the forecast period 2017-2023
The global stem cell assay market is segmented on the basis of product, technology, assay, application, and end-user. On the basis of the product, the market is categorized into micro electrode arrays, flow cytometer, cell imaging systems, automated cell counter, kits, and others. The kits segment is sub segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits, umbilical cord stem cells, and others. On the basis of the technology, the market is segmented into micro fabricated assisted technology microfluidics based cell trap technologies, and others. On the basis of the assay, the market is segmented into cell viability & toxicity assays, cell identification assays, cell proliferation assays, cell apoptosis assays, and others. On the basis of the application, the market is segmented into orthopedic & musculoskeletal spine, dermatology, cardiovascular, central nervous system, and others. On the basis of the end user, the market is segmented into biotechnology industries, research organizations, academic institutes, and others.
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The Americas hold the largest share of global stem cell assay market. Increasing adoption of new technologies, huge patient population for diseases like diabetes, cancer and others, rising healthcare expenditure drives the market growth within the region. Europe stands second in the market. This can be attributed to the growing biotechnology sector, huge patient population, and increasing support by the government for research and development. Asia Pacific region is projected to be the fastest growing market for stem cell assay. Factors such as increasing awareness, rising healthcare expenditures, presence of the developing economies like India and China provide a favorable background for the growth of the market within the region. On the other hand, the Middle East & Africa holds the least share of the global stem cell assay market. Low per capita healthcare expenditure, lack of awareness, stringent government policies, and presence of poor economies, especially in the African region restraints the market growth within the region. A majority of the stem cell assay market within the region is held by the Middle East owing to a well-developed healthcare sector and huge healthcare expenditure in the developed economies like Saudi Arabia, Kuwait, and Qatar.
GE Healthcare (U.K.), Promega Corporation (U.S.), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), Cell Biolabs, Inc. (U.S.), Hemogenix (U.S.), STEMCELL Technologies Inc. (CA), Bio-Rad Laboratories, Inc. (U.S.), Bio-Techne Corporation (U.S.), and Cellular Dynamics International Inc. (U.S.), and others.
Growing biotechnology sector and increasing global burden of the diseases like cancer, diabetes, and others is the major driver for market growth during the forecast period. Additionally, growing healthcare expenditure and rising government support, boosts the market growth. However, stringent government policies, high procedural cost followed, and lack of awareness and skilled forces restrains the market growth during the projected period.
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Asia Pacific region is the fastest growing market for stem cell assay owing to increasing awareness and rising healthcare expenditures within the region. Moreover, the presence of the developing economies like India and China have a developing biotechnology sector which fuels the market growth. In 2017, Indian Brand Equity Foundation estimated that the Indian biotechnology sector held approximately 2% of the total global biotechnology share. India biotechnology industries comprised ~800 related companies and was valued to be approximately around USD 11.6 billion in 2017.
The Middle East & Africa has the least share in the global stem cell assay market due to low per capita healthcare expenditure, lack of awareness, stringent government policies, and presence of poor economies, especially within the in the African region. The Middle East holds a majority of the stem cell assay market in the Middle East & Africa region. A well-developed healthcare sector and huge healthcare expenditure by the presence of developed economies like Saudi Arabia, Kuwait, and Qatar within the region boosts the market growth of the region.
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