The cell expansion market involves the process of growing cells for different applications such as research and therapeutics. The processes involved are 2D expansion, 3D expansion, microcarriers expansion, and others. Cells expanded are used for various therapies like cancer treatment, regenerative medicine, and tissue engineering. Cells require an ideal microenvironment for growth containing nutrients, proteins, and oxygen. Cell expansion techniques are used to grow adequate cells for therapies and research experiments in a cost-effective manner.
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, STEMCELL Technologies, Terumo, and Xell.
The rising incidences of chronic diseases and increasing R&D investments in pharmaceutical and biotech companies are expected to offer significant growth opportunities for players in the cell expansion market.
North America dominated the Cell Expansion Market Demand in 2020 owing to the high adoption of advanced therapeutics and the strong presence of key market players in the region. However, Asia Pacific is anticipated to witness the highest growth over the forecast period with increasing healthcare expenditures and infrastructure development in emerging nations.
Market Drivers
The growing healthcare sector worldwide along with increasing geriatric population is expected to be a major market driver. The rising investments by governments as well as private sectors in regenerative medicine and stem cell research will also contribute to market growth. Furthermore, advantages of cell expansion such as cost-effectiveness and large-scale production of cells required for therapies will support the uptake of cell expansion processes.
PEST Analysis:
Political: The political aspects that impact the cell expansion market include regulations regarding research involving stem cells and policies supporting research funding. Stringent regulations can hamper market growth.
Economic: The growing biotechnology and pharmaceutical industries drive demand and funding for cell expansion processes. As new cell therapies get approved, their high costs can boost the market.
Social: With rising chronic and genetic diseases, cell therapies are gaining acceptance. Growing health awareness increases demand for personalized medicines using cell expansion techniques.
Technological: Advanced cell culture techniques like 3D bioprinting and microfluidics improve cell viability and yield. Automation and real-time monitoring technologies help optimize expansion processes reducing costs. Integration of AI can help accelerate research.
Geographical Regions with High Market Concentration:
North America accounts for the largest share of the global cell expansion market, mainly due to extensive R&D in cell-based therapies and strong government support. Presence of key pharmaceutical companies and established biotech industry in the US and copyright boosts regional growth. Europe is the second largest market led by major players in UK, Germany, France and Italy.
Fastest Growing Region:
Asia Pacific is poised to be the fastest growing market for cell expansion. This is attributed to rising healthcare expenditure, growing research funding, and increasing geriatric population susceptible to chronic diseases in major Asian countries like China, India and Japan. Favorable regulatory environment and low-cost skilled labor are attracting Western companies to set up manufacturing units, fueling APAC market growth.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)