The global Stem Cell Assay Market 2020, according to MRFR, is expected to witness substantial growth over the review period.
Stem cell assays are an integral aspect of the field of biotechnology, which is increasing. The prevalence of chronic and various lifestyle disorders has forced drug research efforts to intensify in an attempt to create innovative therapies. Diseases like cancer and diabetes are on the increase at fast levels, and demand for safer, more effective, and more affordable drugs is pushing the industry towards expansion. Global health care spending is growing, and demand growth is strongly supported by developments in biotechnology and other medical innovations. Policy funding to the production of medications for chronic disorders has expanded work into stem cell assays.
Strict regulatory regulations related to drug clearance, as well as high clinical costs of stem cell assays, hold the industry hostage. Also, there is a lack of knowledge about stem cell assays, and as a result, there is a shortage of qualified practitioners that hinders market development. However, rising healthcare practices and the growing need for therapy are expected to put stem cell assays to the forefront, and there are plenty of opportunities on the market.
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The global stem cell assay market is analyzed based on the technology, product, assay, application, and end-user.
Based on the product, the market is segmented into automated cell counter, microelectrode arrays, flow cytometer, cell imaging systems, kits, and others. The kits segment is sub-segmented into mesenchymal stem cell kits, induced pluripotent stem cell kits, umbilical cord stem cells, and others.
Based on the technology, the market is segmented into microfabricated assisted technology microfluidics-based cell trap technologies, and others.
Based on the assay, the market is segmented into cell viability & toxicity assays, cell identification assays, cell proliferation assays, cell apoptosis assays, and others.
Based on the application, the market is segmented into the orthopedic & musculoskeletal spine, dermatology, cardiovascular, central nervous system, and others.
Based on the end-user, the market is segmented into biotechnology industries, research organizations, academic institutes, and others.
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The Americas are leading the global stem cell assay industry as an emerging technology, and a large patient pool is gradually being embraced for diseases such as diabetes, cancer, and others. Besides, healthcare spending is driving demand growth with the involvement of advanced economies such as the U.S. and Canada within the region.
Owing to the rising biotechnology industry and massive patient population, the global stem cell assay market in Europe is the second-largest. Growing policy funding for research and development, in turn, promotes business demand. The UK is the fourth biggest donor worldwide to biotechnology research and development.
Asia Pacific area is the fastest growing stem cell assay market in the world due to increased awareness and higher healthcare spending. Also, the emergence of emerging economies such as India and China has an expanding biotechnology industry that fuels demand growth.
Middle East & Africa has the least share on the global stem cell assay market due to low per capita healthcare spending, lack of understanding, strict government policies, and the prevalence of weak economies , particularly in the African region. In Middle East & Africa the Middle East has a lot of stem-cell assay industry. A well-developed healthcare system and massive investment in healthcare through the involvement of developing economies such as Saudi Arabia, Kuwait, and Qatar within the country fuel the region’s business growth.
The eminent market players fo the global market are Promega Corporation (U.S.), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), Cell Biolabs, Inc. (U.S.), STEMCELL Technologies Inc. (CA), Bio-Rad Laboratories, Inc. (U.S.), Hemogenix (U.S.), GE Healthcare (U.K.), Bio-Techne Corporation (U.S.), and Cellular Dynamics International Inc. (U.S.), and others.