Fact.MR – A Market Research and Competitive Intelligence Provider: As per a study by Fact.MR, the global human umbilical vein endothelial cells (HUVEC) market is expected to exhibit steady growth at a CAGR of 10% during the forecast period 2021 to 2031. Owing to the advancements in biotechnology and genetic engineering, the demand for HUVEC is anticipated to increase in the coming years.
The application of HUVECs for oncology and cancer treatment is rising. The report predicts this trend to continue over the coming years, enabling the segment to surge at a CAGR of over 12-15% through the assessment period.
According to a study by India Against Cancer, over 2.25 million people are suffering from cancer, with more than 1 million new cases adding every year in India. Against this backdrop, the demand for effective treatment to curb the increasing incidence of cancer is spurring the growth of HUVECs market.
The COVID-19 outbreak has affected the expansion of the HUVEC market due to the mandatory closures imposed on various industries. The fear of getting infected by coronavirus, declined the hospital visits during the first half of 2020, negatively affecting the market growth. Nonetheless, increasing government initiatives and surging investment in healthcare infrastructure are the factors expected to drive the growth of the market.
“Market players are emphasizing on developing high-grade products such as Corning X-SERIES cell processing platform to address the increasing demand due to presence of handful service providers,” says the Fact.MR analyst.
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Key Takeaways
Key Drivers
Key Restraints
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Competitive Landscape
Some of the prominent players involved in human umbilical vein epithelial cells include Lonza Group AG, PromoCell- Human Centered Science, Merck & Co. KGaA, Thermo Fisher Scientific, Lifeline, and Corning Inc. The market for HUVEC is highly consolidated due to the presence of a few service providers. Prominent market players are focusing on developing and launching new products and services as their key expansion strategy. For instance,
More Insights on the Global Human Umbilical Vein Endothelial Cells Market
Fact.MR offers unbiased HUEVC market Analysis. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of various parameters. Which includes:
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