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.
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.
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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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.
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.
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.
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).