- The global cell expansion market size 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%.
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 are driving the growth of cell expansion market.
What the Market Looks Like?
Predicted to grow at a CAGR of 15.1% during the forecast period, the global cell expansion market is estimated to reach USD 30.1 Billion by the end of 2025. North America accounted for the largest share of the cell expansion market in 2019.
Based on the product, the cell expansion market is segmented into consumables and instruments. The consumables segment is further segmented into reagents, media, sera, and disposables, while instruments are segmented into cell expansion supporting equipment, bioreactors, and automated cell expansion systems. In 2019, consumables accounted for the largest share of the cell expansion products market owing to the increasing production of vaccines and other biologics in the biopharmaceutical and biotechnology industries.
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What Drives the Market?
The growth of the global market for cell expansion control is primarily influenced by the following factors:
- 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
- Increasing GMP certifications for cell therapy production facilities
Moreover, 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
Read more about cell expansion market: Cell Expansion Market
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