Cell Expansion Market Worth $30.1 billion by 2025 - Exclusive Report by MarketsandMarkets™
The global cell expansion market in terms of revenue was estimated to be worth $14.9 billion in 2020 and is poised to reach $30.1 billion by 2025, growing at a CAGR of 15.1% from 2020 to 2025. Growth in this market is driven mainly by the increasing incidence of chronic diseases, government investments for cell-based research, the growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and growing GMP certifications for cell therapy production facilities.
Cell expansion is used in the R&D of drugs for the treatment of diseases. It is used in the production of vaccines, drugs, therapeutics, and antibiotics. The rising incidence of diseases such as diabetes and cancer has created a need for extensive research to develop new treatment options. According to the International Diabetes Federation (IDF), approximately 425 million people had diabetes in 2017, and this number is estimated to reach 629 million by 2045. Cancer, which has become the leading cause of death globally, accounted for 9.6 million deaths in 2018.
According to GLOBOCAN, the number of cancer cases will rise to approximately 30 million by 2040 from 18 million in 2018. The growth in the prevalence of these diseases has resulted in a need to conduct extensive research for their diagnosis and treatment; cell expansion forms an important part of this research.
According to the new market research report "Cell Expansion Market by Product (Reagent, Media, Flow Cytometer, Centrifuge, Bioreactor), Cell Type (Human, Animal), Application (Regenerative Medicine & Stem Cell Research, Cancer & Cell-based Research), End-User, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Cell Expansion Market is estimated to be USD 14.9 billion in 2020 and projected to reach USD 30.1 billion by 2025, at a CAGR of 15.1%.
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Growth in this market is primarily driven by the increasing incidence of chronic diseases, government investments for cell-based research, growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and increasing GMP certifications for cell therapy production facilities.
Browse in-depth TOC on "Cell Expansion Market"
595 – Tables
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354 – Pages
Biotechnology & biopharmaceutical companies accounted for the fastest-growing end user segment of the market
Based on end-users, the market has been segmented into research institutes, biotechnology & biopharmaceutical companies, cell banks, and other end users (includes hospitals, diagnostic centers, and laboratories). In 2019, biotechnology & biopharmaceutical companies were the largest end-users in the Cell Expansion Market, and the trend is the same throughout the forecast period. Increasing production of regenerative medicine and rising awareness regarding advanced treatment methods such as personalized medicines and other cell-based therapies are the major driving factors for this segment.
North America accounted for the largest share of the market
North America accounted for the largest share of the market. The large share of this segment can primarily be attributed to the rising incidence of cancer, increasing government funding, rising research activates on stem cell therapies, growing awareness regarding advanced treatment methods, increasing geriatric population, and the strong presence of industry players in the region.
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