The global Stem Cell Manufacturing Market is estimated to be valued at US$ 12415.84 Mn in 2023 and is expected to exhibit a CAGR of 13.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stem cell manufacturing involves production of stem cells through various processes such as cell isolation, cryopreservation and cell packaging. The increasing research and development activities for treatment of various chronic diseases and disorders such as cancer, cardiovascular diseases, diabetes among others through stem cell and tissue engineering applications is driving the growth of the stem cell manufacturing market.
Market key trends:
One of the key trends driving the growth of stem cell manufacturing market is increasing research activities for development of personalized medicine. Several research institutes and pharmaceutical companies have started focusing on development and production of patient-specific stem cell products which can cure chronic diseases more effectively with lesser side effects by considering individual genetic variations. This is expected to boost the demand for stem cell manufacturing over the forecast period.
Segment Analysis
The global stem cell manufacturing market is segmented into tools, cell lines, culture media, and other consumables. The cell lines segment currently dominates the market as they provide unrestricted access to stem cells for research and therapeutic applications. This segment is expected to continue its dominance over the forecast period owing to the ability of cell lines to expand indefinitely and their widespread adoption in developing novel cell-based therapies.
Key Takeaways
The Global Stem Cell Manufacturing Market Size is expected to witness high growth, exhibiting a CAGR of 13.3% over the forecast period, due to increasing incidence of chronic diseases and growing demand for regenerative medicines.
Regional analysis
North America is expected to dominate the global stem cell manufacturing market over the forecast period. This is attributed to the presence of advanced healthcare infrastructure, higher healthcare spending, increasing stem cell research activities, and supportive regulatory environment in the region. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period owing to rising medical tourism, growing geriatric population, and improving healthcare infrastructure.
Key players
Key players operating in the stem cell manufacturing market are TAKARA BIO Inc., PHARMICELL Co., Ltd., MEDIPOST Co., Holostem Terapie Avanzate S.r.l, Bio-Rad Laboratories, Anterogen Co., Ltd., Osiris Therapeutics, Inc (Smith & Nephew PLC), Minaris Regenerative Medicine (Hitachi Chemical Co., Ltd.), Nikon CeLL Innovation Co. Ltd. (Nikon Corporation), Medinet Co. Ltd., Cell and Gene Therapy Catapult, Bio Elpida, Miltenyi Biotec, Pluristem Therapeutics Inc., Thermo Fischer Scientific, Merck Group, Corning Incorporated, Stem Cell Technologies, Lonza Group, Becton, Dickinson and Company, Sartorius, and Cellular Dynamics (Fujifilm Holdings Corporation, among others.
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Stem Cell Manufacturing Market: Information by Application (Therapy & Research & Cell), Product (Stem Cell Lines and Instruments, Consumables & Culture Media), End User (Pharmaceutical/Biotechnology Companies & CRO), & Region - Global Forecast till 2027Market HighlightThe global stem cell manufacturing market is estimated to be valued at USD 17,469.6 million by 2023 and is expected to register a CAGR of 17.5% during the forecast period.Stem cell manufacturing is a process of culturing the cells obtained from bone marrow or peripheral blood cells.
Because of this property, these cells are used during drug development to check the drug performance and as cell therapy to repair or replace the damaged cells and tissues using regenerative medicines.The increasing use of stem cells to treat various diseases, an increasing number of stem cell organizations globally and increasing public-private investments and funding in stem cell-based research boost the market growth.
However, factors such as the availability of less food and drug administration-approved stem cell treatment products, risks related to unproven stem cell treatments, and low government regulations in underdeveloped countries hinder the growth of the marketThe American accounts the largest market share in 2017 and represents 49.1% of the entire market.
Followed by America, Europe holds the second position owing to the presence of major manufacturers, growing prevalence of cancer, growing healthcare expenditure, and increase in technologically-advanced products.
Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6942Segment AnalysisThe global stem cell manufacturing market is segmented into application, product and end user.
Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period.
