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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- The U.S. Human Umbilical Vein Endothelial Cells market is gaining traction owing to the increasing adoption of HUVEC-based procedures for cardiovascular disease treatments.
- Asia-Pacific is expected to emerge as a lucrative market due to the rising prevalence of cancer and other chronic diseases.
- India is exhibiting steady growth in the HUVEC market on the back of increasing tissue culture- and cell culture-based treatments.
- Based on type, pooled donor HUVEC segment is dominating the market and is estimated to expand at a CARG of 10% through 2031.
- Oncology accounts for the largest market share in the application segment due to the rising prevalence of cancer across the globe.
- Increasing incidence of cardiovascular diseases and cancer is fueling the demand for HUVEC.
- Growing demand for tissue engineering as an alternative to surgical reconstruction will bolster the growth of the market.
- Ongoing expansion of the healthcare infrastructure will drive the growth of the HUVEC market.
- Rising awareness regarding advanced treatment and diagnosis approaches is expected to spur market growth.
- High costs of HUVEC-based treatment might hamper the global market growth.
- Lack of skilled professionals for tissue engineering and other applications is negatively affecting the growth of the market.
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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,
- Corning Inc. launched a new, X-SERIES cell processing platform in December 2020, which offers efficient and sterile processing of human blood and blood products to procure refined populations of immune cells for various gene therapy applications.
- Thermo Fisher Scientific, the U.S. based company, introduced a new service, GibcoTM HUVEC Adherent Cell Culture which can be utilized for testing Hepatitis B (HBV), Hepatitis C (HCV), mycoplasma, and sterility.
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:
- Single Donors of Human Umbilical Vein Endothelial Cells
- Pooled Donors of Human Umbilical Vein Endothelial Cells
- Human Umbilical Vein Endothelial Cells for Wound Healing
- Human Umbilical Vein Endothelial Cells for Angiogenesis
- Human Umbilical Vein Endothelial Cells for Tissue Engineering
- Human Umbilical Vein Endothelial Cells for Inflammation Treatment
- Human Umbilical Vein Endothelial Cells for Oncology
- Human Umbilical Vein Endothelial Cells for Other Applications
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Rest of MEA
- North America
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