Stem Cell Assay Market size is estimated to reach $2.48bn by 2025, growing at a CAGR of 19.62% during the forecast period 2020-2025. The stem cell assay kits provide a resource to analyze the biological activities of the cells in a controlled environment. The stem cell assay is used to analyze living cells based on different parameters like shape, size and others. These assays are used in the research of the new drugs and other industrial research. Increased choric diseases and usage of the stem cell assay in the research and development of the new therapies and drug development is increasing the growth of the market during the forecast period.
By Type- Segment Analysis
The global Stem Cell Assay Market based on type has Cell Identification, Viability/Cytotoxicity, Differentiation, Function, Isolation & Purification, Proliferation, and Apoptosis. The Viability/Cytotoxicity segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025, owing to the increased usage of this Viability/Cytotoxicity assay in stem cell research and developments. Cell isolation and purification is also set to have fast growth owing to factors like ease of use and low cost of equipment. Usage of different type of stem cell assay in the industry research for the drug development and advancement of technology is increasing the growth of the market.
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By Application – Segment Analysis
The Application segment of Stem Cell Assay Market has Regenerative Medicine & Therapy Development, Drug Discovery & Development, and Clinical Research. The Regenerative Medicine & Therapy Development segment, which is sub-categorized into Orthopedic & Musculoskeletal Spine, Dermatology, Cardiovascular, Central Nervous System, Oncology, Diabetes and Others, registers for the highest market share in 2019. It is set to continue the growth during the forecast period 2020-2025, owing to the increase in demand for stem cells in the development of cell therapies. An Increase in chronic diseases and increased need for drugs to treat, have been making companies to introduce innovative ideas for the development of new therapies and drugs for the treatment.
By Geography – Segment Analysis
Based on Geography, the stem cell assay market is segmented into North America, Europe, Asia-Pacific and Rest of the World. The global Stem Cell Assay Market by geography had the dominant share in North America, in terms of revenue in 2019 and is set to have the fastest growth during the forecast period 2020-2025. North America holds the largest market share owing to the growing awareness about the stem cell assay and the availability of many number of market players. Asia-Pacific is also set to have healthy growth owing to the increased population and increasing chronic diseases such as cancer, cardiovascular disorders and others. Increased funding by the government and private sector is boosting the market in different places of the world.
Drivers – Stem Cell Assay Market
Raising awareness and developments of stem cell assay
The demand for stem cell assay is driving forward owing to the increase in the adoption of stem cell assay and the advancement of new technologies. Rising demand in the drug testing and increased research by the public and private research institutes is driving the market growth. Increased chronic diseases is the other factor that is driving the market.
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Challenges – Stem Cell Assay Market
High cost involved in the stem cell assay
The high cost involved in the products and having a low regulatory framework by the public or private sector is challenging the market for the stem cell assay during the forecast period 2020-2025.
Stem Cell Assay Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Stem Cell Assay Market. Key companies of this market are Bio-Techne Corporation, GE Healthcare, Merck, Thermo Fisher Scientific, Promega Corporation, STEMCELL Technologies, HemoGenix, Cell Biolabs, Cellular Dynamics International, Agilent Technologies and others.
In July 2019, Bio-Rad laboratories have launched scATAC-Seq solution, a single-cell assay that uses a sequencing method for the transposase accessible chromatin.
In January 2019, Cesa Therapeutics completed the acquisition of the ThermoGeneis Corporation, which together focusing on the development of automated medical devices, for cell-based therapies, which includes stem cell banking, point-of-care applications, and large-scale cell manufacturing.
Geographically, North America’s Stem Cell Assay Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
Usage of stem cells in the development of the new drugs and therapies to treat the diseased cells are supporting the growth of the stem cell assay market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Stem Cell Assay Market report.
Increase in funding by the government and private sector for the research and development of new technology in stem cell assay market is boosting the market.
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