The growth of the stem cell assays market corresponds with that of the biotechnology and biopharmaceutical industries, as these form significant end users for stem cell research products. The continuation of this trend—the growth of the end-user base—has compelled a number of companies to launch new products and invest in stem cell-based therapies.
According to estimates from the Deloitte Touche Tohmatsu Limited (DTTL) Life Sciences and Health Care Industry Group, biotech drugs (vaccines, biologics) continue to gain traction in the life sciences sector. Of the top ten pharmaceutical products (by sales) in 2014, the majority were biotech drugs. Biotech drug sales were estimated at USD 289 billion in 2014, and this figure is projected to grow to USD 445 billion by 2019.
Research in cell biology necessitates the use of animals and humans, as animal and human cells are used in gene therapy studies that involve the recombination of genes and stem cell research therapies.
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These cells are also used for in vivo toxicity and pharmacokinetic testing of drugs that may harm animals and humans. In addition, stem cell research studies use human embryos for clinical applications that often lead to the destruction of the embryos.
The market growth is primarily driven by increasing government and private funding for stem cell research and technological innovations in stem cell research-based instruments.
The global stem cell assay market is segmented by type, cell type, product & service, application, end user, and region. By type, the market is segmented into viability/cytotoxicity, isolation & purification, cell identification, proliferation, differentiation, function, and apoptosis assays.
The viability/cytotoxicity segment accounted for the largest market share of the global stem cell assay market in 2017. Factors driving the growth of this segment include the widespread use of viability/cytotoxicity assays in stem cell research activities.
By cell type, the market is segmented into adult stem cells and human embryonic stem cells. The adult stem cells segment accounted for the largest market share of the global stem cell assay market in 2017. Increasing research on adult stem cells and less stringent regulations are the key factors driving the growth of the adult stem cell market.
On the basis of product & service, the stem cell assay market is segmented into instruments, kits, and services. The instruments segment is estimated to account for the largest share of the global stem cell assay market during the forecast period.
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The growth of this segment is primarily attributed to the ongoing technological innovations in stem cell instruments and the rising number of stem cell research activities across the globe.
By application, the stem cell assay market is classified into regenerative medicine and therapy development; drug discovery and development; and clinical research. The regenerative medicine and therapy development segment is estimated to account for the largest share of the global stem cell assay market in the next five years.
The global stem cell assay market is dominated by North America, followed by Europe. North America will continue to dominate the global stem cell assay market in the forecast period. Moreover, this region is also expected to witness the highest CAGR during the forecast period.
