The North America Stem Cell Assay Market was worth USD 205.7 Million in 2016 and is estimated to be growing at a CAGR of 19.8%, to reach USD 507.6 Million by 2021. Stem cells are a type of cells that are not ascertained but can differentiate into any other type of cells in the body. They can also regenerate an entire lost tissue by properly triggering them. The regenerative properties of the stem cells have the ability to cure many diseases and decrease the mortality rate by huge margin.
Stem cell assays is a procedure to assess the quality and ability of a drug. Affected tissues and tumors can be analyzed and the intensity of toxicity and other aspects of the tissue can be observed. In regenerative medicine, stem cells can be triggered to heal fatal injuries of internal organs. Neurological diseases such as Parkinson’s disease can also be treated using stem cell therapy.
With the increase in R&D activities on stem cell therapy and rising number of successful cases treated using stem cell therapy; the demand for stem cell assays is increasing. The increase in chronic diseases also increased the demand for stem cell therapy. All these factors are driving the growth of stem cell assay market. However, the controversies regarding the extraction of stem cells from embryos and high costs of therapy and research are restraining the growth rate of the market.
The North America stem cell assay market is segmented based on assay type, technology, kits, product, application, end user and region. Based on the assay type, the market is categorized into Cell Viability & Toxicity Assays, Purification Assays, Differentiation assays, function assays, Identification assays, proliferation assays and cell apoptosis assays. The cell viability and toxicity assay is projected to hold the largest market share due to increase in focus on drug testing using stem cells. Based on kits, the market is categorized into Adult stem cell kits and human embryonic stem cell kits. Adult stem cells kits are again segmented into Induced Pluripotent Stem Cell Kits, Mesenchymal Stem Cell Kits, Hematopoietic Stem Cell Kits, Umbilical Cord Stem Cells and Neuronal Stem Cells Kits. Due to the high effectiveness in the analysis of stem cells, adult stem cell kits segment is rapidly growing. Based on product, the market is categorized into Instruments and Detection kits. Instruments are further categorized into Flow cytometer, Cell imaging systems, Micro electrode arrays and automated cell counter. Detection kits include immune histochemistry kits. Flow cytometer is the fastest growing segment due to the rise in demand for tissue analysis and application of cytometers in cancer detection. Based on application, the market is categorized into Regenerative Medicine & Therapy Development, Drug Discovery and Development and clinical research. Regenerative medicine segment is again categorized into Dermatology, Cardiovascular, Orthopedic & Musculoskeletal Spine, Oncology, Central Nervous System and diabetes. Due to…