Market Leader - Cell Harvesting Market
Cell harvesting is the process of harvesting cells from the culture media during upstream and downstream bioprocessing. Cell harvesters are used extensively for the cell harvesting process and are compatible with a wide range of assays, including cell proliferation assays, receptor binding assays, and adherent cell assays. The global cell harvesting market is expected to reach USD 324.5 Million by 2023 from USD 213.8 Billion in 2018, at a CAGR of 8.7%.
Globally, the cell harvesting market is witnessing high growth due to factors such as rising investments in regenerative medicine and cell-based research, growth of the biopharmaceutical and biotechnology industry, and increasing incidence of chronic and infectious diseases.
Over the last few decades, key players operating in this market are focusing on expansion to help companies increase its share in the market. For instance, PerkinElmer and the Genome Institute of Singapore opened a research laboratory in Singapore.
Based on type, the cell harvesting market is segmented into manual and automated cell harvesters. The manual cell harvesters segment is expected to register the highest CAGR during the forecast period. The growth of the manual harvesters segment can be attributed to their ease of use and low price as compared to automated harvesters.
By application, the cell harvesting market is segmented into biopharmaceutical applications, stem cell research, and other applications. The biopharmaceutical applications segment is expected to register the highest growth rate during the forecast period. Increasing demand for biopharmaceutical products in the treatment of infectious and chronic diseases and the growth of the biopharmaceutical industry worldwide are the driving factors for this segment.
Cell harvesting products are widely used in upstream and downstream bioprocesses. They are also used to for the research and development of stem cell therapy products. As increasing R&D expenditure helps in the development of new treatment solutions, supportive government policies for stem cell research and increasing public-private initiatives to encourage public adoption of stem cell-based treatment in the Asia Pacific countries are driving the growth of the market in this region. In 2016, the Australian government invested USD 79.6 million in regenerative medicine research and development. Moreover, the Indian government plans to invest up to USD 5 billion a year (from 2014) for the next five years, to boost the biotechnology sector in the country and make it a USD 100-billion industry by 2025. These initiatives will fuel the growth of the cell harvesting market in Asia Pacific region.
Related Reports:
Cell Harvesting Market by Type (Manual, Automated), Application (Biopharmaceutical, Stem Cell Research), End User (Biotechnology, Biopharmaceutical Companies, Research Institute), and Region (North America, Europe, APAC, Row) - Global Forecasts to 2023
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