(EMAILWIRE.COM, April 17, 2020 ) According to the new market research 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”, published by MarketsandMarkets™, 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% between 2019 and 2024.

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Growth in this market is largely driven by the increasing incidence of chronic diseases, government investments for cell-based research, growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and increasing GMP certifications for cell therapy production facilities. Vision inspection systems segment to account for the largest share of the Inspection Machines Market, by product

The media segment accounted for the largest share of the consumables segment in the cell expansion market in 2018.

On the basis of product type, the consumables market is segmented into media, reagents, sera, and disposables. In 2018, the media segment accounted for the largest share of the consumables segment in the cell expansion market. The large share of this segment can be attributed to its high requirement during the production of pharmaceutical products and rising R&D investments on cell-based therapies.

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Human cells accounted for the largest share of the cell expansion market in 2018

Based on cell type, the cell expansion market is segmented into human cells and animal cells. The human cells segment includes stem cells and differentiated cells. The stem cells segment is further classified into adult stem cells, ESCs, and iPSCs. These cells are used for therapeutic and research purposes. In 2018, the human cells segment accounted for the larger share of the cell expansion market majorly due to the increasing investments by public and private organizations for research on human cells, growing application areas of human stem cells, and the growing incidence of diseases such as cancer.

North America dominates the cell expansion market

North America, which includes the US and Canada, accounted for the largest share of the cell expansion in 2018. The large share of this market segment can be attributed to the government funding for cancer research, increasing awareness regarding advanced treatment theories, and the strong presence of industry players in the region.

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