Investments in research & development for stem cell assay is on the rise since the past few years. The report published by Market Research Future asserts that the global stem cell assay market is prognosticated to strike a CAGR of 19.80% over the forecast period 2017 to 2023. The rising burden of chronic diseases such as diabetes and cancer, among others, is providing impetus to market growth.
The development witnessed in the biotechnology industry is projected to revolutionize the future trajectory of the stem cell assay market over the next couple of years. In addition, the support extended by the governments in favor of the process, coupled with rising healthcare expenditure, is poised to support the expansion of the stem cell assay market over the next few years. On the contrary, high procedural cost and lack of awareness are poised to undermine the growth pace of the stem cell assay market in the foreseeable future.
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- 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.
In June 2019, researchers at the Institute of NanoScience and Technology, India, have developed an injectable hydrogel that might help stem cell uptake by extending the lifespan of the stem cells.
On the basis of product, the global stem cell assay market has been segmented into flow cytometer, microelectrode arrays, cell imaging systems, kits, automated cell counter, and others. The kits segment has been further sub-segmented into induced pluripotent stem cell kits, umbilical cord stem cells, mesenchymal stem cell kits, and others.
On the basis of technology, the stem cell assay market has been segmented into microfluidics-based cell trap technologies, microfabricated assisted technology, and others.
On the basis of assay, the global stem cell assay market has been segmented into cell viability & toxicity assays, cell proliferation assays, cell identification assays, cell apoptosis assays, and others.
On the basis of application, the stem cell assay market has been segmented into the dermatology, cardiovascular, orthopedic & musculoskeletal spine, central nervous system, and others.
On the basis of end user, the global stem cell assay market has been segmented into research organizations, biotechnology industries, academic institutes, and others.
By region, the global stem cell assay market has been segmented into Europe, Americas, Asia Pacific, and the Middle East & Africa (MEA). Americas is anticipated to hold the pole position through the forecast period. The growth of the regional segment is highly attributable to the increasing patient population of chronic diseases such as cancer, diabetes, etc. The quick adoption of advanced healthcare technologies is projected to work in favor of market growth in the years to come.
Europe is likely to retain its second position over the next couple of years. The huge patient population in the region is poised to boost revenue generation in the nearby future. In addition, the growth of the biotechnology industry, in conjunction with rising healthcare expenditure, is projected to catapult the stem cell assay market in the region on an upward trajectory. The U.K. is prognosticated to contribute significantly to the expansion of the regional market across the review period.
Asia Pacific is projected to exhibit the steepest rise in the growth curve over the forecast period. The healthcare sector in the region has been observing rapid developments. It is anticipated to expedite the expansion of the stem cell assay market in the years to come. Meanwhile, the MEA is prognosticated to account for the least share of the market in the forthcoming years owing to lack of access to standard medical facilities in certain regions.
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