India Stem Cell Market to Grow with a CAGR of 12.21% through 2029
Increased
awareness about umbilical stem cell and rising development of regenerative
medicines is expected to drive the India Stem Cell Market growth in the
forecast period, 2025-2029.
According to
TechSci Research report, “India Stem Cell Market -Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029”, the India Stem
Cell Market stood at USD
352.50 Million in 2023 and is anticipated to grow with a CAGR of 12.21%
in the forecast period, 2025-2029. The growth of the Indian stem cell market is
driven by several factors. The increasing prevalence of chronic diseases and
genetic disorders is propelling the need for advanced treatments, including
stem cell therapies. India's rising geriatric population is contributing to
this demand, as they are more prone to diseases where stem cell therapies can
be beneficial.
Furthermore,
significant advancements in biotechnology and the government's supportive
policies for stem cell research have bolstered the market. Lastly, increased
awareness and acceptance of stem cell therapies amongst the public due to
successful outcomes is also a key growth stimulator.
India's stem
cell market is experiencing remarkable growth, fueled by an enhanced
understanding of stem cell functions and their potential therapeutic
applications. The current estimated value of the market is around $1 billion,
and experts predict that it will continue to expand at a Compound Annual Growth
Rate (CAGR) of approximately 28% in the coming years. This impressive growth
positions India among the top 10 countries globally in the field of stem cell
research, highlighting the significant progress made in research and
development efforts. Several factors contribute to the expansion of India's
stem cell market. The rise in non-communicable diseases, coupled with a growing
geriatric population, has created a pressing need for innovative therapeutic
solutions. Stem cell therapies offer a promising approach to address these challenges,
driving increased awareness and acceptance among the Indian population.
Additionally, the Indian government has played a crucial role in fostering stem
cell research by implementing supportive policies and providing funding through
institutions like the Department of Biotechnology (DBT) and the Indian Council
of Medical Research (ICMR). The joint release of guidelines for stem cell
research by the DBT and ICMR has incentivized further studies and propelled
advancements in this field.
The establishment
of stem cell banks has revolutionized the market in India. These banks
facilitate the collection, processing, testing, and preservation of stem cells,
primarily obtained from umbilical cords immediately after birth. The growing
number of these banks signifies the increasing acceptance and adoption of stem
cell therapies among the Indian population.
However,
challenges persist in India's stem cell market. Ethical concerns surrounding
certain types of stem cell research, such as embryonic stem cells, have
resulted in stringent regulations that can impede progress. Additionally, the
high cost of stem cell therapies remains a significant deterrent for a
considerable segment of the population, limiting access to these potentially
life-changing treatments.
Looking to the
future, the prospects of India's stem cell market are promising. Emerging
trends, such as the development of induced pluripotent stem cells (iPSCs), hold
immense potential to drive further market growth. Furthermore, advancements in gene
editing techniques like CRISPR-Cas9 are expected to revolutionize the field and
contribute to the market's expansion. As the Indian stem cell market continues
to evolve, its growth will heavily rely on successfully translating these
research advancements into effective therapeutic solutions that can improve the
lives of countless individuals.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "India Stem Cell Market.”
The India Stem
Cell Market is segmented into product type, application, technology, end user, regional
distribution, and company.
Based on technology,
in the landscape of India's stem cell technology market, the sector of Cell
Acquisition is expected to dominate due to its critical role in the initial
phase of stem cell therapy. This dominance can be attributed to the efficiency
and effectiveness of cell acquisition, which directly impacts the success rate
of subsequent procedures. Cell acquisition involves the collection of stem
cells from various sources such as bone marrow, umbilical cord blood, and
peripheral blood. The advancements in technology continually enhance the
methods and tools for stem cell acquisition, further solidifying its pivotal
position in the market. As research progresses and new techniques emerge, the
field of cell acquisition is poised to witness even more significant growth and
innovation. The continuous exploration of novel sources and techniques for
acquiring stem cells will contribute to the expansion of the market,
facilitating the development of more advanced and accessible stem cell
therapies.
Based on region,
North India is rapidly emerging as a dominant player in the Indian stem cell
market due to several compelling reasons. One of the key factors contributing
to its prominence is the presence of highly advanced healthcare facilities,
renowned research institutions, and a well-established biotechnology sector.
These factors collectively create a conducive environment for cutting-edge
research and development in the field of stem cell therapy. Moreover, the
strong support from the government in terms of policy formulation and funding acts
as a catalyst, propelling the growth of the stem cell industry in this region.
The government's proactive approach towards nurturing and promoting the
biotechnology sector has further amplified the potential for innovation and
scientific breakthroughs in North India.
In addition to
its robust infrastructure and government support, North India also enjoys a
significant advantage in terms of medical tourism. The region attracts a large
number of international patients who seek advanced stem cell therapies, drawn
by the combination of world-class medical facilities, highly skilled healthcare
professionals, and competitive pricing. With its comprehensive ecosystem
encompassing state-of-the-art healthcare infrastructure, leading research institutions,
government backing, and a flourishing medical tourism industry, North India is
firmly positioned as a frontrunner in the rapidly expanding Indian stem cell
market.
Major companies
operating in India Stem Cell Market are:
- Thermo Fisher Scientific India Pvt. Ltd.
- Pluristem Therapeutics Inc.
- Becton Dickinson Private Limited
- Stem Cell Care India
- Merck Life Science Pvt. Ltd.
- Cordlife Sciences India Pvt. Ltd
- Lifecell International Pvt.Ltd
- Stemcyte India Therapeutics Pvt. Ltd.
- Stempeutics Research Pvt. Ltd.
- ReeLabs Pvt. Ltd.
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“The unwavering
support from the Indian government for stem cell research has been instrumental
in fostering the growth of this market. The government's commitment to funding
research initiatives and creating a favorable regulatory environment has
attracted both domestic and international stakeholders to invest in the Indian
stem cell industry. This support has not only accelerated the pace of research
and development but has also facilitated the translation of scientific
discoveries into clinical applications. India's robust healthcare
infrastructure and significant investments in research and development have
positioned the country at the forefront of stem cell innovation. The presence
of world-class hospitals, research institutions, and biotechnology companies,
coupled with a talented pool of scientists and clinicians, has created a
fertile ground for groundbreaking discoveries and transformative treatments.
India's vibrant ecosystem, characterized by collaboration and knowledge
exchange, is poised to revolutionize the field of stem cell research and
therapeutic applications.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“India Stem Cell Market By Product Type (Adult, Induced Pluripotent,
Human Embryonic, Others), By Application (Regenerative Medicine, Drug Discovery
& Development), By Technology (Cell Acquisition, Cell Production,
Cryopreservation, Expansion & Subculture), By End User
(Pharmaceutical/Biotechnology Companies, CRO), By Region, Competition, Forecast
& Opportunities, 2019-2019F”,
has evaluated the future growth potential of India Stem Cell 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 India Stem Cell Market.
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