Stem Cell Manufacturing Market to Grow with a CAGR of 12.64% through 2028
Increase in the number of cell therapy production facilities and rising number of clinical trials are expected to drive the Global Stem Cell Manufacturing Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Stem Cell Manufacturing Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Stem Cell Manufacturing Market stood at USD 11.25 billion in 2022 and is anticipated to grow with a CAGR of 12.64% through 2028. The growing development of precision medicine, increase in the number of cell therapy production facilities and rising number of clinical trials are expected to be major driving factors of the market. Recent advances in the stem cells therapeutics and the tissue engineering hold the potential to draw the attention for treatment of several diseases. Furthermore, increasing demand for stem cells banking and rise in research activities pertaining to stem cells production, storage, and characterization are also expected to fuel the revenue growth for the market. Technological improvements in the parent and ancillary market for stem cells usage are some of the other factors that reinforce the expected growth in demand for stem cells over the forecast period.
Regenerative medicine based on cellular therapies may be a treatment option for patients, resulting in a reduction in mortality and infection rates. Companies and research institutes are collaborating to develop novel treatment options for the disease. For example, Infectious Disease Research Institute and Celularity, announced in April 2020 that the US FDA had approved a clinical trial application to develop cell-based therapy for COVID-19. Hence, growing applications for clinical trials are expected to boost the demand for stem cells during the forecast period.
Growing demand for regenerative medicines is expected to fuel market growth. Regenerative medicines have extensive applications in the treatment of various diseases including neurology, oncology, hepatology, diabetes, injuries, hematology, and orthopedics. In addition, growing geriatric population and increasing demand for regenerative medicines for early detection and prevention of diseases are some of the factors contributing to market growth.
Regenerative medicines help in restoring normal functioning of cells. Rapid advancements in this field is anticipated to provide effective therapies for chronic conditions. For instance, in March 2022, Wipro Ltd, and Pandorum Technologies, announced a long-term partnership. Together the companies plan to aim on the development of technologies that will reduce the time-to-market and boost the patient outcome during clinical trials and research and development of regenerative medicine. Biotech Pandorum will use Wipro’s AI facilities for the development of regenerative medicine and advanced therapeutics to enhance patient outcomes.
The Global Stem Cell Manufacturing Market is segmented into Product, Application, End User, and company.
Based on End User, the Pharmaceutical and Biotechnology Companies segment has emerged as the predominant market leader, the segment will continue to grow at a significant rate during the forecast period. Some of the factors that can be attributed to the segment's share are rising prevalence of chronic disease, increase in clinical trials, upsurge in strategic activities along with improvements in healthcare services. For instance, in August 2022, StemCyte, Inc. obtained approval from U.S. FDA for their Phase II clinical trial for Post-COVID Syndrome using umbilical cord blood stem cell therapy. Moreover, in April 2022, US FDA granted clearance to BioCardia’s Investigational New Drug (IND) application to initiate a Phase I/II clinical trial of BCDA-04 in adults improving from acute respiratory distress syndrome linked with COVID-19. Moreover, increasing number of clinical trials coupled with approval of stem cell-based therapies from regulatory bodies will further offer lucrative opportunities.
Based on the product, Induced Pluripotent Stem Cells segment is expected to grow during the forecast period. owing to increased investment in developing regenerative medicines using induced pluripotent stem cells, ensured reproducibility and maintenance, ability to differentiate into all cell types, and high proliferative ability. Many leading companies are also expanding services related to iPSCs as their importance in the treatment of various diseases grows. For instance, in January 2021, REPROCELL launched a new personalized induced pluripotent stem cells production service for generating patient-specific iPSC. The service will assist in the preparation and storage of an individual's iPSCs for the development of regenerative medicines to treat future illnesses or injury. They are developed from mature cells using ready-to-use RNA reprogramming technology.
Major companies
operating in Global Stem Cell Manufacturing Market are:
- Thermo Fisher Scientific.
- Merck KGaA.
- AbbVie Inc.
- ANTEROGEN.CO. LTD.
- Astellas Pharma Inc.
- Bristol-Myers Squibb Company.
- FUJIFILM Cellular Dynamics Inc.
- RHEACELL GmbH And Co. KG.
- Takeda Pharmaceutical Company Limited.
- Teva Pharmaceutical Industries Ltd.
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“Significant R&D expenditures are one of the major contributors of market growth. Furthermore, another factor contributing to the increase is the increased need for effective therapeutics to reduce the disease burden during the forecast period. Moreover, the increasing recognition of precision medicines is further promoting the market growth. Scientists are finding new procurement methods which can be further utilized for the development of personalized medicines. Key players in this market are adopting various organic and inorganic strategies such as partnerships, mergers and acquisitions, geographical expansion, and strategic collaborations to expand their market presence. Moreover, government funding to accelerate research on stem cell further strengthens the growth of this region.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Stem Cell Manufacturing Market Technology (Product (Consumables, Instruments, Stem Cell Lines), By Application (Research Applications, Clinical Application, Cell and Tissue Banking Applications), By End User (Pharmaceutical and Biotechnology Companies, Academic Institutes, Research Laboratories and Contract Research Organizations, Hospitals and Surgical Centers, Cell and Tissue banks, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Stem Cell Manufacturing Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Stem Cell Manufacturing Market.
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