Cell expansion is the large scale artificial production of daughter cells from a single cell, to support medical research. Rising preference for regenerative medicines offering faster results, and emergence of cell-based therapies with high patient compatibility are expected to fuel the cell expansion market during the forecast period (2017–2025). Regenerative medicine helps the body to form new functional tissue to replace defective or lost ones providing treatment for conditions with inadequate therapies.
According to the U.S. Department of Health and Services, in 2016, NIH invested around US$ 1.5 billion in stem cell research projects. Increasing government and private sector expenditure on cell-based research therapies is expected to boost growth of the market for cell expansion in the near future. The number of FDA approvals for clinical trials of stem cell-based treatments is rapidly increasing. According to a report published by Pharmaceutical Research and Manufacturers of America, in 2013, around 69 cell therapies with clinical trials were under review with the FDA. The therapeutic classes represented in these trials include skin diseases, cardiovascular diseases, transplantations, eye conditions, cancer and associated conditions, musculoskeletal disorders, genetic disorders, and digestive disorders.
Ask For A Sample Copy Of This Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1293
Increasing incidence of chronic medical conditions is expected to boost growth of the cell expansion market over the forecast period
The increasing cases of chronic and rare medical conditions around the world is another key factor driving demand for cell expansion. For instance, according to World Health Organization (WHO), around 15 million people are projected to suffer from cancer by 2020. The rising prevalence of cancer, is in turn, expected to boost growth of the cell expansion market. Cell-based therapy is also a promising approach for treating chronic kidney disease and is presently the focus of preclinical studies. Recent advancements in regenerative medicine and tissue engineering have created cell-based approaches for the treatment of renal failure. Such treatments include biotechnological approach using implantation of bioengineered kidney constructs, transplanting cells, and bio-artificial renal systems. However, lack of high-tech instrumentation and skilled workforce coupled with the high cost of operations are expected to hamper growth of the cell expansion market.
Furthermore, increasing incidence of chronic diseases and rising R&D investments for the development of cell-based products are other factors expected to support growth of the cell expansion market. According to a study published in NIH report, around 500,000 people benefit from a transplant each year using regenerative medicine in the U.S. Increasing R&D expenditure by several companies for the development of new therapeutic products and availability of untapped growth opportunities are expected to drive the cell expansion market in Asia Pacific. Biotechnology merger and acquisition (M&A) activities have also experienced a boost in the region. According to investment bank China Renaissance, in 2016, 37 pharmaceutical and biotech M&A deals worth US$ 6.8 billion were closed in China.
Major industry players use merger and acquisitions as their major growth strategy
Key players operating in the cell expansion market include Becton, Dickinson and Company, Beckman Coulter, Inc., Corning, Inc., GE Healthcare, Lonza, Merck KGaA (Sigma-Aldrich Co. LLC), Miltenyi Biotec, Thermo Fisher Scientific, Inc., Terumo BCT, Inc., and Stemcell Technologies, Inc. In July 2016, GE Healthcare acquired Biosafe SA, a Swiss company that manufactures instruments that recover stem cells and help in various other cell processing procedures related to personalized medicine. This acquisition will help GE Healthcare to grow the cells in the sample for appropriate dose sizes.