PUNE, India, July 31, 2018 /PRNewswire/ --
According to a new market research report "Primary Cells Market by Type (Human Primary Cells, Animal Primary Cells), Origin (Hematopoietic, Blood, Skin, Gastrointestinal, Hepatocytes, Renal, Skeleton & Muscles), End User (Life Science Research & Research Institutes) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 1,107.3 million by 2023 from USD 736.4 million in 2018, at a CAGR of 8.5%.
Browse 71 market data Tables and 35 Figures spread through 114 Pages and in-depth TOC on "Primary Cells Market"
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Factors driving the growth of this market include increasing cancer research, high prevalence of cancer disorders, increasing research funding for the development of new cancer therapies, and increasing number of collaborations & acquisitions.
Hematopoietic cells segment is estimated to account for the largest share of the Primary Cells Market in 2018.
Based on origin, the market is segment into hematopoietic, skin, gastrointestinal, liver, lung, renal, heart, skeletal & muscle, and other primary cells. The hematopoietic cells segment is witnessing a significant demand due to increasing cancer research globally. For instance, in 2014, cancer research represented more than 4% of overall research performed worldwide.
Human primary cells segment is anticipated to account for the largest share of the Primary Cells Market in 2018.
The two major categories of primary cells by type included animal primary cells and human primary cells. Human primary cells are primarily used for various research applications, for instance, studying cancer stem cells and drug-drug interactions in cancerous cells and circulating tumor cells. The rising application areas of human stem cells and rising incidence of cancer are the key factors driving the growth of this market segment.
The life science research companies segment is estimated to grow at the highest CAGR during the forecast period.
The end user segment is further segmented into life science research companies and research institutes. The life science research companies segment is estimated to register the highest CAGR during the forecast period. The key factors that drive the growth of this segment is the rising application of primary cells in drug discovery and cancer research in life science research companies.
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North America is expected to command the largest share of the market during the forecast period.
Based on region, the global Primary Cells Market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America is estimated to dominate the Primary Cells Market in 2017. This is mainly due to factors such as the increasing research on increasing prevalence of cancer related disorders, and presence of all key players in the region.
Key players in the Primary Cells Market include Thermo Fisher Scientific (US), Merck KGaA (Germany), Lonza (Switzerland), Cell Biologics (US), PromoCell (Germany), ZenBio (US), STEMCELL Technologies (Canada), AllCells (US), American Type Culture Collection (US), and Axol Biosciences (UK).
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