The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s stem cell assay market report forecasts the stem cell assay market size to grow to $4 Billion by 2027, with a CAGR (compound annual growth rate) of more than 20%.
Learn More On The Stem Cell Assay Market Report 2023 – https://www.thebusinessresearchcompany.com/report/stem-cell-assay-global-market-report
Stem Cell Assay Market Size Forecast
The global stem cell assay market is expected to grow from $1.57 billion in 2022 to $1.89 billion in 2023 at a compound annual growth rate (CAGR) of 20.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The stem cell assay market size is expected to grow to $4 billion in 2027 at a CAGR of 20.6%.
North America held the largest stem cell assay market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Stem Cell Assay Market Driver – Increase In The Prevalence Of Chronic Diseases
For instance, according to the Australian Bureau of Statistics, an independent statuary agency of the Australian government, in 2021, nearly 46.6% of Australians of all ages had one or more chronic diseases, and nearly one in five that is 20.7% had two or more chronic diseases. Therefore, the increase in the prevalence of chronic diseases is driving the growth of the stem cell assay market.
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Key Stem Cell Assay Market Trend – Product Innovations
Major companies operating in the stem cell assay market are introducing new products to sustain their position in the market. For instance, in May 2022, Beckman Coulter Life Sciences, a US-based healthcare company launched the AQUOS STEM System that helps to develop hematopoietic stem cells. This system helps to reduce hands-on time by 95% using an automated modular approach, error-prone processes are cut back by 87.5%, and turnaround times are shortened. The system runs on the AQUIOS CL Flow Cytometer that combines sample preparation and analysis in one compact platform.
Stem Cell Assay Market Segment
1) By Type: Cell Viability And Toxicity Assays, Cell Apoptosis Assays, Cell Function Assays, Cell Identification Assays, Isolation And Purification Assays, Cell Differentiation Assay, Other Types
2) By Product: Instruments, Detection kit
3) By Application: Regenerative Medicine And Therapy Development, Drug Discovery And Development, Clinical Research
4) By End User: Government Research Institutes, Private Research Institutes, Industry Research
Stem Cell Assay Market Major Players and Strategies
Major players in the stem cell assay market are Thermo Fisher Scientific Inc., Merck Group, Danaher Corporation, Becton Dickinson and Company, Bio-Rad Laboratories, PerkinElmer, Agilent Technologies, Promega Biotechnology Company, Cell Biolabs, Miltenyi Biotec, STEMCELL Technologies, Bio-Techne Corporation, Charles River Laboratories International Inc., Hemogenix Inc., Lonza Group AG, Takara Bio Inc., Creative Bioarray, AAT Bioquest Inc., BPS Bioscience Inc., Enzo Biochem Inc., PromoCell, Biotium, Geno Technology, Abcam plc, and ReachBio Research Labs.
In July 2022, Fujifilm Cellular Dynamics Inc., a US-based manufacturer of human-induced pluripotent stem cell technologies, partnered with PhenoVista Biosciences. This partnership will help drug discovery researchers to access services for high content screening imaging using iPSC-derived differentiated cells to help in the drug discovery process. PhenoVista Biosciences is a US-based company that provides imaging-based phenotypic assay services for drug discovery using induced pluripotent stem cell (iPSCs) in screening.
The Stem Cell Assay Global Market Report 2023 covers regional data on stem cell assay market size, stem cell assay market trends and drivers, opportunities, strategies, and stem cell assay market competitor analysis. The countries covered in the stem cell assay market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Stem cells refer to cells which have the rare capacity to renew themselves and develop into specialized cell types. They act like the building blocks of all living things. Stem cell assay is developed for studying human stem cell growth to analyze the biological activities of stem cells in a controlled environment.
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