The increasing incidence of chronic diseases, government investments for cell-based research, the growing focus on personalized medicine, increasing focus on R&D for cell-based therapies, and growing GMP certifications for cell therapy production facilities.
According to the WHO ICTRP and the NIH ClinicalTrials.gov databases, 27 clinical investigations of MSC-based cell therapy approaches have begun in China since the onset of the COVID-19 outbreak, as well as a growing number of academic and industry trials elsewhere. Regenerative medicine & stem cell research is one of the major applications of cell expansion. This is a major indicator of market growth as stem cell-based therapies are showing significant potential in COVID-19 study.
In addition to this, various cell expansion products (such as cell culture media) and instruments (such as bioreactors) are being used in COVID-19 research. Hence, the outbreak of COVID-19 has positively impacted the cell expansion market.
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Cell expansion is used in the R&D of drugs for the treatment of diseases. It is used in the production of vaccines, drugs, therapeutics, and antibiotics. The rising incidence of diseases such as diabetes and cancer has created a need for extensive research to develop new treatment options. According to the International Diabetes Federation (IDF), approximately 425 million people had diabetes in 2017, and this number is estimated to reach 629 million by 2045. Cancer, which has become the leading cause of death globally, accounted for 9.6 million deaths in 2018.
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. These cells are also used for in vivo toxicity and pharmacokinetic testing of drugs, which may harm animals and humans. In addition, stem cell research studies use human embryos for clinical applications that often lead to the destruction of human embryos. To monitor these activities, strict regulations have been formulated by ethical authorities in various countries across the globe.
According to India Brand Equity Foundation (IBEF), the biotechnology industry in India is projected to reach USD 100 billion by 2025 from USD 11 billion in 2016, at a growth rate of 30.46%. According to the same source, the pharmaceutical industry in India is projected to reach USD 55 billion by 2020 from USD 36.7 billion in 2016. In Brazil, the pharmaceuticals market is expected to reach USD 29.9 billion by 2021 from USD 25.3 billion in 2016 (Source: Advantage Business Marketing).
Based on application, the cell expansion market has been segmented into regenerative medicine and stem cell research, cancer & cell-based research, and others. The regenerative medicine and stem cell research segment accounted for the largest market share in 2019 due to the increased funding for regenerative medicine and stem cell research.
