(PharmaNewsWire.Com, March 22, 2018 ) The Global Stem Cell Assay Market was worth USD 541.3 Million in 2016 and is predicted to reach USD 1358.1 Million by 2021, expanding at a CAGR of 20.2%.
Over the last decade, the utility of cell-based assays has expanded at a speedy tempo amongst research institutes and pharmaceutical industries. This became more often than not ascribed to the ethical problems associated with using animals for medical trials. Moreover, the rise in approvals of scientific trials for stem cells primarily based therapy, increase in the price range from government corporations, and technological advancements are a number of the elements driving the stem cell assay market.
According to the centres for disorder control and Prevention, 14.1 million new cancer instances had been recognized around the world in 2012 and round 19.3 million new most cancers cases are anticipated to be diagnosed each year by way of 2025. Upward push in incidences of continual illnesses is boosting the demand for research, making stem cells a noticeably preferred gadget for drug discovery due to its self-renewal functionality and unspecialized nature.
Human embryonic stem cells, which might be derived from the internal mobile mass of blastocyst are presently excessive on the political problems and ethical worries in many nations are hampering the increase of the marketplace. Moreover, loss of required infrastructure in developing countries and high price related to merchandise are a number of the elements restraining the stem cell assay market. Evolution of recent treatment plans and occasional regulatory frameworks in emerging areas are predicted to offer opportunities for market boom during the forecast period.
The major Market leaders are Bio-Techne Corporation, Thermo Fisher Scientific Inc., Merck KGaA, STEMCELL Technologies Inc., Promega Corporation, GE Healthcare, Bio-Rad Laboratories, Inc., Cellular Dynamics International Inc., Hemogenix, and Cell Biolabs Inc.
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