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Key Players in the Global Stem Cell Assay Market Primarily Pursue the Strategy of Approvals
The global stem cell assay market is consolidated in nature, marked with the presence of a few large players. The prominent players in this market are GE Healthcare (U.K.), Promega Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (U.S.), Cell Biolabs, Inc. (U.S.), Hemogenix Inc. (U.S.), STEMCELL Technologies Inc. (CA), Bio-Rad Laboratories, Inc. (U.S.), R&D Systems, Inc. (U.S.), and Cellular Dynamics International, Inc. (U.S.).
The key strategies followed by most companies in the global stem cell assay market are new products launches and approvals; expansions; acquisitions; and partnerships, agreements, and collaborations. The widely used strategy by key players is new product launches and the FDA approvals for the new products which accounted for the largest share of the overall growth strategies mapped from 2014 to 2016. The companies are focused on the launch of new products in order to continue their presence in the global stem cell assay market. Companies seek new and advanced product approvals to strengthen their product portfolios and cater to the unmet needs of their customers. Some of the leading players that adopted this strategy include GE Healthcare (U.K.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (U.S.) and STEMCELL Technologies Inc.
Thermo Fisher Scientific Inc. (U.S.), was the largest player in the global stem cell assay market in 2015. The company has a broad product portfolio of stem cell assays and further, the company is focusing on enhancing its presence in the market by adopting organic as well as inorganic growth strategies. Currently the company has a strong presence in the North American market. In order to sustain its foothold and further increase its share in the market, the company pursues the new product launch strategy, which significantly impacts the company's customer base.
In 2015, GE Healthcare (U.K.) accounted for the second-largest share in the stem cell assay market. The company focuses on developing innovative products to provide efficient solutions for its customers. The company has maintained its presence in the global stem cell assay market through product approvals for new products and license agreements with the other stem cell based companies for the development and commercialization of cellular assay products.
Merck KGaA (U.S.) held the third position in the stem cell assay market in 2015. The company geographically operates across North America, South America, Latin America, Europe, Asia, Africa, Middle East, and the Indian Ocean islands. The company focuses on strengthening its presence in the market through research & development efforts and new product approvals in the field of stem cell products.
Stem Cell Assay Market by Type (Viability, Differentiation, Cell Identification), Kit (Mesenchymal, IPSCS, Hematopoietic), Product (Flow Cytometer, Detection Kit), Application (Regenerative Medicines, Drug Development), End User - Forecast to 2021
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