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According to The Business Research Company’s research on the stem cell assay market, product innovations are the key trends gaining popularity in the stem cell assay market. 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.
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The global stem cell assay market size is expected to grow from $1.29 billion in 2021 to $1.56 billion in 2022 at a compound annual growth rate (CAGR) of 21%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The stem cell assay market is expected to grow to $3.18 billion in 2026 at a CAGR of 19.5%.
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.
The high prevalence of chronic diseases is expected to propel the growth of the stem cell assay market going forward. Chronic disease refers to an ailment or illness that often lasts for three months or longer and has the potential to develop worse over time. Stem cells have the potential to treat a wide range of diseases including chronic diseases. They help in the development of new antibodies and specialized cells that help to cure chronic diseases such as cancer. 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.
North America was the largest region in the stem cell assay market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stem cell assay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global stem cell assay market is segmented by type into cell viability and toxicity assays, cell apoptosis assays, cell function assays, cell identification assays, isolation and purification assays, cell differentiation assay, other types; by product into instruments, detection kit; by application into regenerative medicine and therapy development, drug discovery and development, clinical research; by end user into government research institutes, private research institutes, industry research.
Stem Cell Assay Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide stem cell assay market analysis, stem cell assay market forecast size and growth, stem cell assay market segmentation, stem cell assay market trends, stem cell assay market drivers and restraints, stem cell assay market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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