PUNE, India, March 28, 2018 /PRNewswire/ --

According to a new market research report "Stem Cell Assay Market by Type (Viability, Purification, Identification), Cell Type (Mesenchymal, iPSCs, HSCs, hESCs), Product & Service (Instruments, Kits), Application (Regenerative Medicine, Clinical Research), End User - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 1,978.7 Million by 2023 from USD 791.9 Million in 2018, at a CAGR of 20.1%.

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Browse 188 market data Tables and 41 Figures spread through 224 Pages and in-depth TOC on "Stem Cell Assay Market"

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Factors driving the growth of this market include the rising incidence of target indications; availability of funding for stem cell research; technological advancements in stem cell research instruments; and growth of end-use industries.

By type, viability/cytotoxicity assays accounted for the largest share of the market in 2017 

On the basis of type, this market is classified into viability/cytotoxicity, differentiation, cell identification, isolation & purification, function, proliferation, and apoptosis assays. The viability/cytotoxicity assay segment accounted for the largest share of global Stem Cell Assay Market in 2017. Factors driving the growth of this segment include the increasing number of stem cell-based research activities and wider availability of viability assays across the globe.

Adult stem cells segment led the Stem Cell Assay Market in 2017 

By cell type, this market is classified into adult stem cells and human embryonic stem cells. The adult stem cells segment accounted for the largest share of global Stem Cell Assay Market in 2017. Key factors driving the growth of this segment include the rising number of adult stem cell-based research activities and less stringent regulations for adult stem cell research compared to human embryonic stem cell research.

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By product & service, the instruments segment is estimated to command the largest share of the market during the forecast period 

On the basis products & services, this market is classified into instruments, kits, and services. The instruments segment accounted for the largest share of global Stem Cell Assay Market in 2017. Some of the major factors driving the growth of this segment include ongoing technological innovations in stem cell instruments and the rising number of stem cell research activities.

The regenerative medicine and therapy development segment dominated the market in 2017 

By application, the market is segmented into regenerative medicine and therapy development; drug discovery and development; and clinical research. The regenerative medicine and therapy development segment accounted for the largest share of the global Stem Cell Assay Market in 2017. The increasing demand for stem cells in the development of various types of cell therapies and growing regenerative medicine industry across the world are factors driving this market segment.

Biopharmaceutical & biotechnology companies to command the largest share of the market during the study period 

On the basis of end user, the Stem Cell Assay Market is segmented into biopharmaceutical & biotechnology companies and research institutes. The biopharmaceutical & biotechnology companies segment accounted for the largest share of the global Stem Cell Assay Market in 2017. This segment is driven by the increasing demand for innovative and advanced drug therapies and growing number of biopharmaceutical & biotechnology companies across the globe.

North America held the largest share of the market in 2017 

Based on region, the Stem Cell Assay Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the market in 2017. The large share of this geographical segment is attributed to factors such as the increasing incidence of chronic diseases and improved life sciences research infrastructure in that region.

Key players in the Stem Cell Assay Market include Thermo Fisher Scientific (US), GE Healthcare (US), Merck (Germany), Bio-Rad Laboratories (US), Promega Corporation (US), Agilent Technologies (US), PerkinElmer (US), Miltenyi Biotec (Germany), Cell Biolabs (US), HemoGenix (US), STEMCELL Technologies (Canada), Bio-Techne Corporation (US), and Cellular Dynamics International (US).

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