Thermo Fisher Scientific (US) and Danaher (US) are Leading Players in the Cell Expansion Market
The global cell expansion market size is estimated to be USD 14.9 billion in 2020 and projected to reach USD 30.1 billion by 2025, at a CAGR of 15.1%. Growth in this market is driven mainly by the increasing incidence of chronic diseases, government investments for cell-based research, growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and increasing GMP certifications for cell therapy production facilities.
Some of the leading players in the cell expansion market include Thermo Fisher Scientific, Inc. (US), Danaher (US), Becton, Dickinson and Company (US), Lonza (Switzerland), Corning, Inc. (US), Merck KGaA (Germany), Sartorius Stedim Biotech (France), Getinge AB (Sweden) Terumo Corporation (Japan), and Miltenyi Biotec (Germany)
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Thermo Fisher Scientific (US) is a leading player in the cell expansion market. Its large share in the cell expansion market can be attributed to its extensive product portfolio and strong sales and distribution network, which enables it to market its products across the globe effectively. The company focuses on developed and emerging markets to generate a significant amount of revenue. Moreover, the company is investing 3–5% of its total revenue in R&D each year to maintain its leading position in the market. The company mainly focuses on acquisitions and expansions to strengthen its position in the cell expansion market. For instance, in 2019, the company invested around USD 24 million in its Inchinnan, Scotland site to expand global bio-production capabilities with additional large-volume liquid manufacturing capacity for cell culture media to meet growing customer demand.
Danaher (US) is another leading player in the cell expansion market. The company mainly focuses on continuous innovation, product development, acquisitions, agreements, and expansions to strengthen its business operations. For instance, in 2020, Danaher acquired the Biopharma business from General Electric Companys Life Sciences division. The business will be known as Cytiva and act as a standalone operating company within Danahers Life Sciences segment. Danaher also invests significantly in R&D to introduce new products into the market. For instance, in 2019, the company launched its ClearLLab 10C System for clinical flow cytometry labs. It invested 6.3% and 6.2% of its total revenue in R&D in 2019 and 2018, respectively. With its strong portfolio of cell expansion products, the company is likely to maintain its leadership position in this market.
Related Reports:
Cell Expansion Market by Product (Reagent, Media, Flow Cytometer, Centrifuge, Bioreactor), Cell Type (Human, Animal), Application (Regenerative Medicine & Stem Cell Research, Cancer & Cell-based Research), End-User, and Region - Global Forecast to 2025
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