Stem Cell Assay Market Overview and Introduction

The global stem cell assay market was valued at over US$ 450.0 Mn. in 2017 and is anticipated to grow at a CAGR of 19.9% from 2019 to 2030. The global Stem Cell Assay market is segmented by product & services, cell type, application, type, and region.

Stem Cells are cells that can be differentiated into various types of other cells that can make up organ or tissue. Stem cells are mainly of two type embryonic stem cells and adult stem cells. Over the years many researchers have carried out studies to evaluate the true potential of stem cells leading to various applications in the field of organ regeneration, genetic diseases treatment, oncology and cell therapy in damaged cells.

The global Stem Cell Assay market is driven by technological advancements in the stem cell therapy arena, increasing patient awareness and health care expenditure, rising number of patients genetic disorders, and need for regenerative medicine are major factors driving the market. However, high cost related to stem cell assay research and ethical issue related to stem cells is likely to restrain the market to certain extent.

Stem Cell Assay Market by Product & Services

On the basis of product & services, the stem cell assay market is segmented into instruments, kits & reagents and services. Kits & reagents segments accounted for the largest share of the market and growth of this segment can be attributed to focus of companies to innovative advanced stem cell therapy for treatment of various diseases.

Stem Cell Assay Market by Cell Type

Based on cell type, the market is segmented into adult stem cells and human embryonic stem cells. The adult stem cell segment is estimated to account for the largest share of the global Stem Cell Assay market. The large share of this segment can be attributed to the increasing research in the field of regenerative medicine and favorable government policies and regulation.

Stem Cell Assay Market by Applications and Type

On the basis of application the market is segmented into regenerative medicine, drug discovery and clinical research. Regenerative medicine accounted for the largest share in the market owing to, increasing favorable policies and regulations regarding testing. Moreover, growing interest in the regenerative medicine field by major players like Merck & Co., Inc., and Thermo Fisher Scientific have paved way for growth of this market.

On the basis of type, the Stem Cell Assay market is segmented into cell identification, proliferation assay, differentiation assay, viability/cytotoxicity assay and other assay. The viability/cytotoxicity assay segment is estimated to account for the largest share of the stem cell assay market. Increasing number of research in the stem cell arena and need to determine viable cells from non-viable stem cells are some of the factors driving the growth of the segment.

Stem Cell Assay Market by Region

The global Stem Cell Assay market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of stem cell assay market, followed by Europe and Asia Pacific. North America will continue to dominate the global Stem Cell Assay market in the forecast period owing to factors such as growing need of Stem Cell Assay products, highly developed healthcare system and availability of government and private funding for research on stem cell. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the rising focus of major players in emerging Asian countries and government support are driving the growth of the Stem Cell Assay market in this region. The high cost of Stem Cell Assay and ethical issue related to stem cell may restrain market growth to a certain extent.

Stem Cell Assay Market Prominent Players

The prominent players in the global Stem Cell Assay market are Thermo Fisher Scientific, Merck, GE Healthcare, Merck, Cell BioLabs, Agilent Technologies, Bio-Rad Laboratories, PerkinElmer and Promega Corporation among others.