According to 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 2025", size is estimated to be USD 14.9 billion in 2020 and projected to reach USD 30.1 billion by 2025, at a CAGR of 15.1%. Growth in this market is primarily 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.
According to the WHO ICTRP and the NIH ClinicalTrials.gov databases, 27 clinical investigations of MSC-based cell therapy approaches have begun in China since the onset of the COVID-19 outbreak, as well as a growing number of academic and industry trials elsewhere.
In addition to this, various cell expansion products (such as cell culture media) and instruments (such as bioreactors) are being used in COVID-19 research. Hence, the outbreak of COVID-19 has positively impacted the cell expansion market.
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Cell expansion is used in the R&D of drugs for the treatment of diseases. It is used in the production of vaccines, drugs, therapeutics, and antibiotics. The rising incidence of diseases such as diabetes and cancer has created a need for extensive research to develop new treatment options.
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.
Increasing production of regenerative medicine and rising awareness regarding advanced treatment methods such as personalized medicines and other cell-based therapies are the major driving factors for this segment.