(EMAILWIRE.COM, July 18, 2019 ) According to the MarketsandMarkets latest report "Cell Expansion Market by Product (Reagent, Media, Flow Cytometer, Centrifuge, Bioreactor), Cell Type (Human, Animal), Application (Regenerative Medicine & Stem Cell Research, Cancer & Cell-based Research), End User, and Region - Global Forecast to 2024"

The cell expansion market is projected to reach USD 26.0 billion by 2024 from USD 12.7 billion in 2019, at a CAGR of 15.4% during the forecast period.

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Key Market Players of Cell Expansion Market:-

Prominent players in the global cell expansion industry include Thermo Fisher Scientific, Inc. (US), Becton, Dickinson and Company (US), Terumo BCT (Japan), Merck KGaA (Germany), Danaher Corporation (US), Miltenyi Biotec (Germany), Lonza Group Ltd. (Switzerland), STEMCELL Technologies Inc. (Canada), GE Healthcare (US), and Corning, Inc. (US).

Cell Expansion Market segmentation:

• Based on Product
• Based on Cell Type
• Based on Application
• Based on End Users
• Based on Regions

Recent Developments:

• In 2018, Merck KGaA (Germany) entered an agreement with Incheon Free Economic Zone (IFEZ) to build an integrated Cell Culture facility in Songdo, South Korea.
• In 2018, Miltenyi Biotec (Germany) had received the European Medicines Agency (EMA) approval for the use of CliniMACS Prodigy instrument in MolMed S.p.A.’s GMP facility.
• In 2017, Beckman Coulter, Inc. [Subsidiary of Danaher Corporation (US)] Received 510(k) clearance from US FDA for its Navios EX flow cytometer.

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Geographical Detailed Analysis for Cell Expansion Market:

North America is the largest regional segment in the Cell Expansion Market.
The large share of this segment can primarily be attributed 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.