Cell Expansion Market is Estimated to Witness High Growth Owing to Growing Adoption of Cell-Based Therapies
The cell expansion market involves the process of nurturing cells outside the body through methods of isolation, culture and growth for further use in therapeutic applications. The cell expansion process aids in increasing the number of desired cells such as stem cells, lymphocytes and others, which are then administered to patients suffering from chronic diseases such as cancer and autoimmune disorders. The market has gained significant traction in recent years owing to the growing adoption of cell-based therapies in disease treatment.
Global cell expansion market is estimated to be valued at USD 19.69 Bn in 2024 and is expected to exhibit a CAGR of 11.8% during the forecast period (2024-2031).
Key Takeaways
Key players operating in the cell expansion market are Thermo Fisher Scientific, GE Healthcare, Lonza, Terumo Corporation and Merck KGaA.
The key opportunities in the Cell Expansion Market Demand include increasing investment in cell-based research, rising number of clinical trials and growing prevalence of chronic diseases.
Technological advancements such as development of bioreactors for large-scale expansion of cells and automation in cell processing are aiding market growth.
Market drivers
Increasing funding for cell-based research from public and private organizations is a major market driver. The rising production of cost-effective biopharmaceuticals through cell therapy manufacturing is also supporting market growth. Additionally, growing geriatric population susceptible to chronic diseases, and the rising awareness about cell-based therapy applications are fueling the demand for cell expansion processes, thereby driving market growth over the forecast period.
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