The North America Cell Expansion Market size has been calculated at USD 4.89 billion in 2022 and is expected to be growing at a CAGR of 19.5% to touch USD 11.91 billion by 2027.
In the North America Cell Expansion Market, the increasing incidence of chronic and cell-based diseases and the growing elderly population drive the region's overall business development. Increasing investment by both companies and governments in cell expansion research is also driving the growth of the North American Cell Expansion Market.
The increased prevalence of chronic ailments and increased cell-based research activity has proven to be a major driver of the North America cell expansion market. Cardiovascular disease (CVD) is a leading cause of death worldwide. According to the WHO, an estimated 17.9 million people died from cardiovascular disease in 2016, accounting for 31% of global deaths.
In North America Cell Expansion Market, the increasing prevalence of cancer patients has led to many patient clusters, allowing manufacturers to profit from the market. Therefore, the number of chronic disease cases is expected to increase throughout the market. Also, technological advances in cell proliferation devices and government investment in healthcare are factors supposed to drive this market development.
The high cost of operation has hindered the North America Cell Expansion Market due to the need for skilled labor and high-tech equipment.
The cell growth process's ethical issues and stringent regulations related to the cell growth process have also limited North America Cell Expansion Market growth to some extent.
This research report on the North American Cell Expansion Market segmented and sub-segmented into the following categories.
By Cell Type:
Regionally, North America is a significant market in terms of value in the global market. The market share in 2018 was around 40%. The region's dominant share resulted from many key players' reconciliation and increased R & D spending in the area.
The USA market accounts for the notable share of the North American cell expansion market, which is closely followed by the Candian industry. The sophisticated healthcare infrastructure, the presence of leading players in the business, and the high investments from public and private sectors mainly contribute to the USA's market dominion. The trend towards outsourcing research processes to low-cost destinations in the Asia-Pacific region and local expertise availability is also driving growth in the North America cell expansion market.
Prominent Companies leading the North America Cell Expansion Market profiled in the report are Beckman Coulter, Inc. (U.S.), Becton, Dickinson, and Company (U.S.), Corning, Inc. (U.S.), GE Healthcare (U.K.), Lonza (Switzerland), Merck KGaA (Germany), Miltenyi Biotec (Germany), STEMCELL Technologies, Inc. (Canada), Terumo BCT, Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.).
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