Stem Cell Assay Market Research Report: By-Products (Flow Cytometer), Technology (Micro Fabricated Assisted Technology), Assay (Cell Viability & Toxicity Assays), Application (Dermatology), End User (Biotechnology Industries) – Global Forecast Till 2027
Stem Cell Assay Market Size To Expand at a Notable CAGR Of 19.80% During 2017 - 2023
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The global market has been growing on account of rising prevalence of chronic diseases such as cancer, diabetes, Parkinson’s disease and Alzheimer’s disease, immune disorders, bone marrow diseases and other blood-borne diseases. Stem cells have the potential to assist healing of muscle cells that repair damage after a heart attack. Besides, stem cells have the ability to cure a plethora of diseases and have become a popular biomedical topic for researchers and scientists across the globe. Increasing research and development activities have paved the way for market expansion. Growing biotechnology sector and advancements due to the availability of funding boost the growth of the market. Novel cellular and molecular biology techniques are increasingly promoting the development of stem cell therapies.
Key Players :
- GE Healthcare (U.K.),
- Promega Corporation (U.S.),
- Thermo Fisher Scientific (U.S.),
- Merck KGaA (Germany),
- Cell Biolabs, Inc. (U.S.),
- Hemogenix (U.S.),
- STEMCELL Technologies Inc. (CA),
- Bio-Rad Laboratories, Inc. (U.S.),
- Bio-Techne Corporation (U.S.), and
- Cellular Dynamics International Inc. (U.S.), and others.
Segments :
The global stem cell assay market has been segmented based on product, technology, assay, application and end user.
By product, the market has been segmented into microelectrode arrays, flow cytometer, cell imaging systems, automated cell counter, kits, and others. The kits segment is further segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits, umbilical cord stem cells, and others. By technology, the market has been segmented into microfabricated assisted technology microfluidics-based cell trap technologies, and others. By assay, the market has been segmented into cell viability & toxicity assays, cell identification assays, cell proliferation assays, cell apoptosis assays, and others. By application, the market has been segmented into orthopedic & musculoskeletal spine, dermatology, cardiovascular, central nervous system, and others. By end user, the market has been segmented into biotechnology industries, research organizations, academic institutes, and others.
Regional Analysis :
The key markets of the global stem cell assay market include the Americas, Europe, Asia Pacific and the Middle East & Africa.
The Americas is the largest market for stem cell assay owing to rising adoption of new technologies in the healthcare sector and the presence of a vast patient population and prevalence of diseases such as cancer, diabetes and other chronic diseases. Additionally, high expenditure on healthcare and presence of a robust economy in countries like the US and Canada within the region boosts the growth of the market.
Europe ranks the second in the global stem cell assay market. A growing biotechnology sector, increased expenditure on healthcare and substantial patient population is the key factors supporting the growth of the market in the region. Moreover, government support for research and development favors market growth. The UK is the fourth largest contributor to biotechnology research and development in the world.
Asia Pacific is expected to be the fastest growing market for stem cell assay owing to increased awareness coupled with rising healthcare expenditure in the developing economies of the region. Moreover, the growth of the biotechnology sector in countries like India and China fuels the growth of the market.
The Middle East & Africa market holds the least share of the global market due to the low penetration of healthcare, and poor socio-economic conditions, especially in the African region. The majority of the market share is held by the Middle East and Saudi Arabia, Kuwait and Qatar are the key contributors in the Middle East market. A well-developed healthcare sector and high expenditure on healthcare are the factors aiding market growth.
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