The global Stem Cell Assay Market is estimated to be valued at US$ 1.6 Billion in 2022 and is expected to exhibit a CAGR of 16.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Stem cell assays are utilized for measuring cell proliferation, viability, and cytotoxicity. Stem cell assays find numerous applications in research pertaining to diseases, toxicity screening, and drug discovery. Numerous technological advancements have made stem cell assays easier to conduct, more accurate, and affordable.
Market key trends:
One of the major market trends in the stem cell assay market is the increasing adoption of 3D cell cultures. 3D cultures help mimic in vivo conditions more accurately as compared to 2D cultures. They facilitate cell-cell interaction, cell polarity, and cell differentiation more effectively. 3D cultures also allow longitudinal studies on stem cell behavior over time. Their higher physiological relevance makes them an important tool for stem cell research, toxicity screening, and drug development. Companies are innovating 3D culture technologies such as scaffold-based, bioreactor-based, and scaffold-free systems to study stem cells. This is expected to drive the demand for stem cell assays significantly.
The global stem cell assay market is segmented by assay type, technology, application, end-user, and geography. Based on assay type, the market is divided into viability/cytotoxicity assay, isolation & purification assay, apoptosis assay, and other assay types. The viability/cytotoxicity assay segment dominated the market in 2022 as these assays help determine cell viability and proliferation. These assays are widely adopted in drug discovery, stem cell research, and therapeutic development processes.
The global Stem Cell Assay Market Share size is expected to grow from US$ 1.6 Billion in 2022 to reach over US$ 2.6 Billion by 2030, expanding at a CAGR of 16.5% from 2023 to 2030. The increasing research & development activities in stem cell therapy are expected to drive the market during the forecast period.
Regional analysis: The US dominated the stem cell assay market in 2022 and is expected to maintain its dominance over the forecast period. This is attributed to extensive funding by both private and government organizations toward stem cell research. Increasing academic research collaborations between research laboratories and pharmaceutical companies in the country is also augmenting market growth in the US.
Key players: Key players operating in the stem cell assay market are Merck & Co., Thermo Fisher Scientific, GE Healthcare, Agilent Technologies, Bio-Rad Laboratories, Promega Corporation, Cell Biolabs, PerkinElmer, Miltenyi Biotec, HemoGenix, Bio-Techne Corporation, STEMCELL Technologies, and Cellular Dynamics International. Merck & Co. and Thermo Fisher Scientific captured majority market share in 2022 owing to their broad product portfolio and global presence.