Cell Expansion Market by Cell Type,

Product, End Users & Forecast

– 2024

The growth of the global cell expansion market is primarily driven

by the growing prevalence of chronic diseases and increasing
investments offered by the governments to fuel cell based research.
The growth of the global market is also being driven by increasing
focus on customized and personalized medicine. Additionally, rising
onus on the research and development activities on the cell based
therapies and rising GMP certifications for production facilities for
cell therapy are also important for driving the growth of the global
cell expansion market.

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The competitive landscape of the global cell expansion market is

fairly consolidated in nature. The companies in the global market
are eyeing to get at the top of the pyramid with the help of advanced
research and development activities. Naturally, the companies are
investing heavily in such R&D activities and are coming up with
new cell applications and cell lines. These companies are also
concentrating on product differentiation in order to strengthen their
overall market position. Naturally, such developments are expected
to drive the development of the market and further intensify the
competition. The companies in the global cell expansion market are
also expected to resort to aggressive growth strategies such as
mergers, takeovers, acquisitions, strategic partnerships and alliances
in order to stay ahead of their competitive rivals.

Some of the key developments in the global cell expansion

market are given below:

 In 2016, Thermo Fisher Scientific Inc. announced that the

company has acquired Affyetrix Inc. a US based company.
Thermo Fisher announced that the company invested US$1.3
billion for this deal. This takeover helps the company to improve
their product portfolio in the field of genetic and cellular analysis.

 In 2017, Becton Dickenson and Company announced that they

have received a 501(k) clearance for its BD FACSLyric flow
cytometer system.
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Global Cell Expansion Market: Snapshot

The global cell expansion market is fairly consolidated with the top
eight players accounting for most of the market share. Majority of
the top players, with an aim of furthering their market share, are
expending a lot of money and time on research and development in
order to come up with new cell lines and applications. They are also
focusing hard on product differentiation to bolster their positions.
On account of this, competition is robust in the market for cell
expansion.

Providing tailwinds to the global cell expansion market is the

growing prevalence of rare and chronic conditions and also the
continued rise in demand for biopharmaceuticals. Growing demand
for regenerative medicines that provide faster results and cell-based
therapies that have high patient compatibility are also said to be
stoking market growth.

High cost involved in operations due to the need for skilled

workforce and high tech instrumentation, however, is acting as a
deterrent for the market. Strict rules and regulations pertaining to
cell expansion processes owing to the ethical concerns surrounding
it too is crimping market growth to an extent.

However, despite all obstacles, the market will likely clock a robust
CAGR of 14.7% between 2016 and 2024, finds a report by
Transparency Market Research. Growing at this pace, the report
predicts the market to attain a value of US$26 bn by 2024-end from
US$7.737 bn in 2015.

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Increase in Chronic Diseases Propels Market for Human Stem
Cells

The global cell expansion market can be broadly divided into human
stem cells, human differentiated cells, and animal cells based on the
types of cells. Of them, the human stem cell segment accounts for a
leading share in the market vis-à-vis revenue due of the increasing
instances of various chronic diseases and support provided by the
government. In 2016, it held a substantial 58.1% share in the overall
revenue in the global cell expansion market.
The animal cell segment, on the other hand, is also predicted to
grow at an impressive 14.6% CAGR from 2016 to 2024 to become
worth US$ 7,432.6 Mn by 2024 on the back of demand for
development of vaccines against some parasitic and viral diseases.

North America Market Shines due to Presence of Key Players in

the Region

Geographically, the global cell expansion market can be segmented

into Asia Pacific, Europe, North America, Latin America, and the
Middle East and Africa. North America, of them, is the leading
market. In 2016, it held a 39.3% share in the market. The regions
dominant share is the result of a large number of prominent players
domiciled there and the increasing spends on research and
development in the area. In the years ahead, North America is
predicted to trim its market share and by 2024 it is slated to hold
37.7% share. It will still retain its leading share, however by rising
at a 14.7% CAGR during the period from 2016 to 2024.

In terms of growth rate, Asia Pacific will expected to outpace all

other regions by clock a stellar CAGR of 16.4% between 2016 and
2024. This is because of the key players keen on tapping into the
opportunities in the emerging economies in the region such as India
and China. Besides, growing number of market participants from the
nations of Japan, Australia, India, and China is also majorly filliping
the cell expansion market in Asia Pacific. The trend of outsourcing
research processes to low cost destinations in Asia Pacific and the
availability of expertise in the region has also been stoking growth.

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