Market Research Future’s study of the market in its latest report has found that the Global Stem Cell Assay Market is on track to register a highly optimistic outlook at a CAGR of 19.80% during the review period from 2019 to 2023.
The global market has been growing on account of rising prevalence of chronic diseases such as cancer, diabetes, Parkinson’s disease and Alzheimer’s disease, immune disorders, bone marrow diseases and other blood-borne diseases. Stem cells have the potential to assist healing of muscle cells that repair damage after a heart attack. Besides, stem cells have the ability to cure a plethora of diseases and have become a popular biomedical topic for researchers and scientists across the globe. Increasing research and development activities have paved the way for market expansion. Growing biotechnology sector and advancements due to the availability of funding boost the growth of the market. Novel cellular and molecular biology techniques are increasingly promoting the development of stem cell therapies.
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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. Market for Global Stem Cell Assay is Estimated to grow at an Approximate cagr of 19.80% from 2017 to 2023.
Key Players :
- 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.
The global stem cell assay market has been segmented based on product, technology, assay, application and end user.
By product, the market has been segmented into microelectrode arrays, flow cytometer, cell imaging systems, automated cell counter, kits, and others. The kits segment is further segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits, umbilical cord stem cells, and others. By technology, the market has been segmented into microfabricated assisted technology microfluidics-based cell trap technologies, and others. By assay, the market has been segmented into cell viability & toxicity assays, cell identification assays, cell proliferation assays, cell apoptosis assays, and others. By application, the market has been segmented into orthopedic & musculoskeletal spine, dermatology, cardiovascular, central nervous system, and others. By end user, the market has been segmented into biotechnology industries, research organizations, academic institutes, and others.
Regional Analysis :
The key markets of the global stem cell assay market include the Americas, Europe, Asia Pacific and the Middle East & Africa.
The Americas is the largest market for stem cell assay owing to rising adoption of new technologies in the healthcare sector and the presence of a vast patient population and prevalence of diseases such as cancer, diabetes and other chronic diseases. Additionally, high expenditure on healthcare and presence of a robust economy in countries like the US and Canada within the region boosts the growth of the market.
Europe ranks the second in the global stem cell assay market. A growing biotechnology sector, increased expenditure on healthcare and substantial patient population is the key factors supporting the growth of the market in the region. Moreover, government support for research and development favors market growth. The UK is the fourth largest contributor to biotechnology research and development in the world.
Asia Pacific is expected to be the fastest growing market for stem cell assay owing to increased awareness coupled with rising healthcare expenditure in the developing economies of the region. Moreover, the growth of the biotechnology sector in countries like India and China fuels the growth of the market.
The Middle East & Africa market holds the least share of the global market due to the low penetration of healthcare, and poor socio-economic conditions, especially in the African region. The majority of the market share is held by the Middle East and Saudi Arabia, Kuwait and Qatar are the key contributors in the Middle East market. A well-developed healthcare sector and high expenditure on healthcare are the factors aiding market growth.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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