Stem Cell Assay Market Trends, Business Insights and Forecast to 2023
Market Analysis:
The stem cell assay market is projected to grow at a 19.80% CAGR between 2017-2023, states the latest Market Research Future (MRFR) report. Stem cells, simply put, are biological cells that can differentiate into other kinds of cells and produce similar kinds of stem cells. Adult stem cells and embryonic stem cells are the two forms of stem cells. They are present in different parts of the body, such as blood, adipose tissue, and bone marrow. Stem cell assays are used for different processes, including cell differentiation, especially for research purposes, cell proliferation, cell identification, purification and isolation of stem cells, and viability/cytotoxicity studying.
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Various factors are propelling the stem cell assay market growth. Such factors, according to the latest Market Research Future report, include technological advancements in stem cell assay methods, growing incidence of chronic diseases, increasing expenditure in various research-related activities, increase in approvals of clinical trials, increasing patient awareness, increasing cases of genetic disorders, demand for regenerative medicine, and increasing private as well as government funding for stem cell research.
On the other hand, the high price of stem cell-based therapies, strict regulatory recommendation, scarcity of skilled professionals, and lack of awareness are factors that may impede the stem cell assay market growth during the forecast period.
Key Players:
STEMCELL Technologies Inc., Cellular Dynamics International Inc., Bio-Techne Corporation, Bio-Rad Laboratories, Inc., GE Healthcare, Promega Corporation, Merck KGaA, Hemogenix, Thermo Fisher Scientific, and Cell Biolabs, Inc.
Market Segmentation:
· The Market Research Future report provides an all-inclusive segmental analysis of the Stem Cell Assay Marketon the basis of end user, application, assay, technology, and product.
· By products, the stem cell assay market is segmented into kits, automated cell counter, cell imaging systems, flow cytometer, and others. The kits segment has again been segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits, umbilical cord stem cells, and others.
· By technology, the stem cell assay market is segmented into microfabricated assisted technology, micro fluids-based cell trap technologies, and others.
· By assays, the stem cell assay market is segmented into cell apoptosis assays, cell proliferation assays, cell viability and cytotoxicity assays, cell identification assays, and others. Of these, the viability and cytotoxicity segment will lead the market during the forecast period.
· By applications, the stem cell assay market is segmented into the central nervous system, cardiovascular, dermatology, orthopedic and musculoskeletal spine, and others.
· By end users, the stem cell assay market is segmented into academic institutes, biotechnology industries, academic institutes, research organizations, and others. Of these, biotechnology industries will dominate the market during the forecast period.
Regional Analysis:
By region, the stem cell assay market report covers the latest trends and growth opportunities across North America, the Middle East and Africa, Europe, and the Asia Pacific. Of these, North America will spearhead the stem cell assay market during the forecast period. Various factors propelling the stem cell assay market growth in the region include the growing R&D spending in the biotechnology sector, increasing incidence of chronic ailments such as cancer, diabetes, and others, huge patient population, and rising adoption of novel technologies.
The stem cell assay market in the APAC region will grow at the fastest pace during the forecast period. Various factors propelling the stem cell assay market growth in the region include the growing incidence of chronic diseases including cardiovascular disorders, cancer, and others, increase in the patient population, rising healthcare expenditures, presence of developing economies such as China and India, and booming biotechnology industry.
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The stem cell assay market in Europe is predicted to have a healthy growth during the forecast period. Various factors propelling the stem cell assay market growth in the region include huge patient population, growing biotechnology sector, presence of key researchers and manufacturers in the region, and growing support by the government for R&D activities.
The stem cell assay market in the MEA will have a small share during the forecast period for the presence of poor economies, stringent government policies, lack of awareness, and low per capita healthcare expenditure.
Industry News
November 2019: Gemini Bioproducts has acquired ORFLO Technologies, a leading supplier of cell analysis instruments, especially cell counters and flow cytometers.