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The market value for cell expansion market size was USD 17.4 billion in 2022 and is expected to reach USD 66.17 billion in 2032

NEW YORK, NY, UNITED STATES, May 8, 2023 /EINPresswire.com/ -- The Global Cell Expansion Market was valued at USD 17.4 billion in 2022 and is expected to reach USD 66.17 billion in 2032, with a revenue CAGR of 16% during the forecast period. The growth is attributed to the increasing prevalence of chronic and genetic diseases, the rise in demand for cell-based therapeutics and regenerative medicine, and the surge in funding for cell-based research.

Cell expansion is the process of increasing the number of cells in a culture, which is a crucial step in drug development, therapeutic applications, and cell-based research. The biopharmaceutical sector is particularly driving demand for cell expansion technologies due to the development of vaccines, antibodies, and cell treatments.

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The market revenue growth is driven by the rising need for cell-based therapies and regenerative medicine to treat chronic diseases such as diabetes, cancer, and cardiovascular illnesses. The aging population and technological developments in gene editing and gene therapy are also driving demand for cell expansion technology.

Increased financing for cell-based research is creating a high demand for cell expansion technology. However, the high cost of cell multiplication systems, limited availability of qualified specialists, and moral concerns about the use of embryonic stem cells could restrain revenue growth. Additionally, the regulatory framework for cell-based therapies is complex and varies across geographic regions.

Segments Covered in the Report:

The global cell culture market is segmented based on cell type into human cells and animal cells. The human cells segment is expected to hold the largest market share in terms of revenue. The use of human cells in drug discovery and disease research is increasing, leading to growth in the market share of the human cells segment.

Based on application, the market is segmented into cancer research, stem cell research and regenerative medicine, cell-based research, and diagnostics. The cancer research segment is expected to hold the largest market share in terms of revenue. The increasing prevalence of cancer and the need for new and effective cancer treatments are driving the growth of this segment.

Based on end-use, the market is segmented into research institutes, biopharmaceutical companies, biotechnology companies, and cell banks. The biopharmaceutical companies segment is expected to hold the largest market share in terms of revenue. The increasing investment in research and development activities by biopharmaceutical companies to develop new drugs and therapies is driving the growth of this segment.

Some of the key players operating in the global cell culture market are Thermo Fisher Scientific Inc., Merck KGaA, GE Healthcare, Lonza Group AG, Becton, Dickinson and Company, Corning Incorporated, Sartorius AG, Eppendorf AG, PromoCell GmbH, and HiMedia Laboratories. These companies are adopting various strategies such as product launches, collaborations, and partnerships to strengthen their position in the market.

Strategic Development:

Thermo Fisher Scientific, Inc. announced on 26 February 2021 that it has acquired Mesa Biotech, a company that develops molecular diagnostic tests for point-of-care use, for roughly USD 550 million. Thermo Fisher intends to use this acquisition to enhance its molecular diagnostics capabilities and broaden its point-of-care testing portfolio.

Merck KGaA announced a strategic partnership with UK-based biotech company Artios Pharma on 3 December 2020 to create small-molecule inhibitors of nucleases involved in DNA damage repair. Merck hopes to advance its oncology portfolio and expand its presence in the DNA damage response field through this collaboration.

On 1 June 2020, Becton, Dickinson and Company acquired Straub Medical AG, a Swiss firm that specializes in the development and production of medical devices for the treatment of vascular and cardiovascular diseases. This acquisition is expected to expand Becton, Dickinson's peripheral intervention portfolio and strengthen its presence in the cardiovascular market.

Finally, Danaher Corporation announced on 31 March 2020 that it has acquired Cytiva, a life sciences firm that specializes in developing and producing products for the bioprocessing industry, for approximately USD 21.4 billion. This acquisition is expected to expand Danaher's life sciences portfolio and strengthen its presence in the bioprocessing market.

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Competitive Landscape:

The global cell expansion market is highly competitive, with a few dominant players and a large number of small and medium-sized players competing for market share. The major companies in the market are focusing on developing new and innovative products, partnerships, collaborations, and mergers and acquisitions to expand their presence in the market.

Thermo Fisher Scientific, Inc., Merck KGaA, Becton, Dickinson and Company, Danaher Corporation, and Lonza Group AG are some of the major players operating in the cell expansion market. Thermo Fisher Scientific is a leading company in the market that provides a range of products and services for cell expansion, including cell culture media, reagents, and instruments. Merck KGaA offers a variety of products and services for cell expansion, including cell culture media, sera, and instruments.

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Becton, Dickinson and Company is another leading company in the market that offers a range of products for cell expansion, including cell culture media, sera, and instruments. Danaher Corporation is a multinational company that provides a wide range of products and services for cell expansion, including cell culture media, instruments, and consumables. Lonza Group AG provides a range of products and services for cell expansion, including cell culture media, sera, and instruments.

Other major companies in the market include Corning Incorporated, Eppendorf AG, Miltenyi Biotec GmbH, Stemcell Technologies Inc., and Terumo BCT, Inc. These companies are focusing on partnerships, collaborations, and mergers and acquisitions to strengthen their position in the market and expand their product portfolio.

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