In a recently published report, Cell Expansion Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cell Expansion Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
“Global Cell Expansion Market is valued approximately USD 12.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.1 % over the forecast period 2020-2027. Cell expansion processes for clinical use require special considerations such as product safety and control for cell function. cell expansion is also used to improve transplantation and in the treatment of various diseases such as diabetes, rheumatoid arthritis and others. Cell based approaches are highly demanded during COVID-19 as this therapy reduces the expression of pro-inflammatory cytokines as well as repair of damaged tissues in COVID-19 patients. Thus cell expansion market is highly demanded across the world during coronavirus pandemic.
The increasing incidence of chronic diseases, government investments for cell-based research, growing focus on personalized medicine, rising focus on R&D for cell-based therapies and growing Good manufacturing practice (GMP) certifications for cell therapy production facilities are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 05th November 2019, Thermo Fisher Scientific, Inc. Invested around USD 24 million for the expansion of its ability to manufacture cell culture media at Inchinnan, Scotland. This investment will expand the capabilities and expertise company’s existing cell culture manufacturing center of excellence in the UK . However, ethical concerns regarding research in cell biology is the major factor restraining the growth of global Cell Expansion market during the forecast period.
The regional analysis of global Cell Expansion market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the rising incidence of cancer, increasing government funding, rising research activates on stem cell therapies, growing awareness regarding advanced treatment methods, growing geriatric population, and the strong presence of industry players in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Thermo Fisher Scientific, Inc.
Becton, Dickinson And Company
Sartorius Stedim Biotech
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Automated Cell Expansion Systems
By Cell Type:
Regenerative Medicine and Stem Cell Research
Cancer and Cell-based Research
By End Use:
Biotechnology and Biopharmaceutical Companies
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Cell Expansion Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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