According to research report the Cell Expansion Market is expected to reach USD 18.76 Billion by 2021 from USD 8.34 Billion in 2016 at a CAGR of 17.6% from 2016 to 2021. The report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the cell expansion market along with the estimates and forecasts of the revenue and market share analysis.
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The cell expansion market is consolidated in nature due to the presence of a few large players. The prominent players in the market include 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.).
Thermo Fisher Scientific Inc. (U.S.) was the global leader in the cell expansion market in 2015. It is a well-known company with an exhaustive product portfolio. The company is innovation-centric and invests heavily in R&D for maintaining its market share. Thermo Fisher Scientific mainly focuses on organic growth strategies such as new product launches for enhancing its share in the cell expansion market. The company also focuses on expansion for growth.
GE Healthcare (U.K.) held the second position in cell expansion market in 2015. Its high share in the market can be attributed to its strong portfolio of cell expansion products. The company mainly focuses on organic growth strategies, such as new product launches, for boosting its share in the market. For instance, it launched the Xuri Cell Expansion System W25 for the production of cellular immunotherapies in November 2013.
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The key strategies followed by most companies in the cell expansion market are new product launches; agreements and collaboration; mergers and acquisition; and expansion. New product launches accounted for the largest share of the overall strategic developments mapped in this report during 2013 to 2016. Some of the leading players that adopted this strategy include Becton, Dickinson and Company (U.S.), Corning, Inc. (U.S.), GE Healthcare (U.K.), Lonza (Switzerland), Merck KGaA (Germany), and Thermo Fisher Scientific Inc. (U.S,). Agreements and collaborations accounted for the second-largest share of the overall growth strategies adopted by players in this market.
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