CHICAGO, June 21, 2022 /PRNewswire/ -- According to the new market research report "Stem Cell Assays Market by Type (Viability, Proliferation, Differentiation, Apoptosis), Cell Type (Mesenchymal, iPSCs, HSCs, hESCs), Product & Service (Instrument), Application (Regenerative Medicine, Clinical Research), End User - Global Forecast to 2027", published by MarketsandMarkets, the global market is projected to reach USD 4.5 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 17.7 % during the forecast period of 2022 to 2027.
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The stem cell assays market is expected to grow at a CAGR of 17.7% during the forecast period. The growth of the market is projected to be driven by increasing funding for stem cell research, rising demand for cell-based assays in drug discovery, and the rising incidence of cancer across the globe.
The viability/cytotoxicity assays accounted for the largest share of the type segment in the stem cell assays market in 2021.
Cell viability assays help to determine the number of live and dead cells in a culture medium. The viability/cytotoxicity assays includes various types such as tetrazolium reduction assays, resazurin cell viability assays, calcein-AM cell viability assays, and other viability/cytotoxicity assays. The segment accounted for the largest share on 2021. Increase in demand for stem cell assays in drug discovery and development is projected to drive the segment growth.
The adult stem cells segment accounted for the largest share of the cell type segment in the stem cell assays market in 2021.
The adult stem cells accounted for the largest share of the stem cell assay market. The stem cells include mesenchymal stem cells, induced pluripotent stem cells, hematopoietic stem cells, umbilical cord stem cells, and neural stem cells. Increasing demand for mesenchymal stem cells and induced pluripotent stem cells for development of stem cell based therapies and rising R&D spending are various factors projected to drive the segment growth.
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The Asia Pacific region is the fastest-growing region of the stem cell assays market in 2021.
The Asia Pacific is estimated to be the fastest-growing segment of the market. The growth of the stem cell assays markets of China and India is mostly driven by growing public-private funding to support stem cell product development and commercialization and rising prevalence of cancer & other diseases. Furthermore, growing emphasis on strategic initiatives (such as acquisitions, partnerships, and collaborations) by biopharma and biotech companies is expected to support the market growth in the region.
Key players in the stem cell assays market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Danaher (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), PerkinElmer (US), Agilent Technologies (US), Promega Corporation (US), Cell Biolabs (US), Miltenyi Biotec (Germany), STEMCELL Technologies (Canada), Bio-Techne Corporation (US), FUJIFILM Holdings Corporation (Japan), Charles River Laboratories (US), HemoGenix Inc. (US), Lonza Group (Switzerland), Takara Bio Inc. (Japan), Creative Bioarray (US), AAT Bioquest, Inc. (US), BPS Bioscience, Inc. (US), Enzo Biochem (US), PromoCell GmbH (Germany), Biotium (US), Geno Technology (US), Abcam plc (UK), and ReachBio Research Labs (US).
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