Cell Harvesting Market to See 11.3% Annual Growth Through 2023

Industry Boosted by Healthcare Spending, Dominance of North America

June 03, 2019

WELLESLEY, Mass., June 03, 2019–Increased healthcare spending and the dominance of North America are two factors which will drive growth of the global cell harvesting market, according to a report by BCC Research, “Cell Harvesting Market.”

The market expects to see a compound annual growth rate (CAGR) of 11.3% through 2023, when it could be worth $1.5 billion.

Major players in the market include Thermo Fisher Scientific (NYSE: TMO), Merck, (NYSE: MRK), General Electric (NYSE: GE), Corning (NYSE: GLW) and Terumo (TYO: 4543).

Research Highlights

• Assays and kits lead the market by size, with a 2018 value of $343 million, followed by reagents and consumables at $241 million and cell collection and separation equipment at $179 million.
• Automated cell harvesting will grow faster than manual cell harvesting, with a CAGR of 12.4% vs. 10.6%, through the forecast period.
• North America leads the automated cell harvesting market by size, with a 2018 value of $118 million, followed by Europe at $98 million and the Asia-Pacific region at $74 million.

“Platelet-rich plasma therapy, a new biotechnology solution that has a heightened interest among researchers in tissue engineering and cell-based therapies, has various applications in the treatment of tissue healing in tendinopathy, osteoarthritis and muscle injury,” notes report author Anuj Pathak. “It has been conventionally employed in orthopedics, maxillofacial surgery, periodontal therapy and sports medicines. PRP therapy can be used in the treatment of fat grafting, acne scars, and hair regrowth.”

Market Opportunities to Be Found in Emerging Economies

Future market growth will be concentrated in emerging economies, the report adds. Regions such as China and India will see overall economic expansion and a focus on advanced healthcare, and both countries have massive populations to serve. India is a prime potential location for clinical trials and low-cost manufacturing, and this is one factor which is expected to motivate market players. Many emerging nations lack stringent government regulations and have cheap labor, which make them attractive for manufacturing.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Cell Harvesting Market( BIO182A )
Publish Date: May 2019    

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