Primary Hepatocytes Market will surge to US$ 428.1 Mn by the end of 2032 : Persistence Market Research
NEW YORK, May 4, 2022 /PRNewswire/ -- Recent developments in stem cell therapy and the advantages of primary hepatocytes over cell lines have been contributing to the growth of the global primary hepatocytes market. The market was valued at US$ 213.8 Mn in 2021, and is projected to expand at a CAGR of 6.6% over the forecast period (2022-2032).
Rising prevalence of chronic diseases such as cancer, speedy growth in biopharmaceutical industries, and developing focus on R&D are some of the key factors propelling the growth of the primary hepatocytes market. Advancements in cancer research and increase in healthcare infrastructure are further driving market expansion.
Use of primary hepatocytes for drug delivery and toxicity tests is projected to increase significantly owing to rising prevalence of cancer worldwide. Increasing incidence of several cancers, such as liver, lung, and breast cancer, are anticipated to fuel revenue growth of the global primary hepatocytes market over the forecast period.
In recent years, demand for drugs therapy for cancer patients has increased owing to increasing awareness among physicians. Thus, research involving primary hepatocytes is increasing, and thereby has a positive impact on the market.
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Key Takeaways from Market Study
- By product, cryopreserved suspension hepatocytes will hold 37.5% market value share by the end of 2032.
- The human primary hepatocytes segment will dominate the global market with more than 60% share in 2022.
- Cell viability assays are expected to hold nearly 1/4 revenue share in 2022.
- Nearly 50% of the global market share will be captured by biopharmaceutical companies in 2022.
- By region, North America is forecasted to be the leading regional market with a share of 30.4% by the end of 2032.
"Rising prevalence of chronic diseases, surge in primary hepatocyte adoption in drug development & drug testing, increasing demand for personalized medicines, and development of new cancer treatments will propel market growth," says an analyst of Persistence Market Research.
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Market Competition
Leading players such as Thermo Fisher Scientific and LifeNet Health, among others, are aiming at business expansion to strengthen their market presence as well as introduce new product lines in their already existing product portfolios.
- In March 2020, Thermo Fisher established a partnership with CSL, a global biotechnology company, to facilitate its expansion in the growing biologics market.
- In September 2020, Thermo Fisher invested around US$ 45 Mn and announced the opening of a cell therapy development & management center to accelerate its cell therapy platform and enable smooth transition of R&D to process development.
- In 2019, LifeNet Health opened a new facility in San Diego, California, for R&D and tissue-engineering services.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the primary hepatocytes market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the product (cryopreserved suspension hepatocytes, fresh suspension hepatocytes, 3D (spheroid) hepatocytes, expanded hepatocytes (plateable), and non-characterized hepatocytes), species (humans, rats, mice, dogs, monkeys, horse, and others), application or assay (cell viability assays, cytochrome enzyme activity, high content cytotoxicity, transporter inhibition assays, in vitro intrinsic clearance, phospholipids assays, and others), and end user (biopharmaceutical companies, academic and research institutes, and contract research organizations), across seven key regions of the world.
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