India Stem Cell Market to Surpass USD 1.27 Billion until FY2026
Growing industry attention
on stem cell research and surging demand for regenerative medicines to drive
India stem cell market
According
to TechSci Research report, “India
Stem Cell Market By Product Type, By Application, By Technology, By
End User, By Region, Competition Forecast & Opportunities, FY 2026”, India stem cell market was valued at USD 0.47 Billion in
2019 and is projected to grow at around 13% CAGR during FY 2021 – FY 2026
predominantly on account of increase in stem cell-based research. In addition
to this, partnerships in order to reprogram newborn stem cells using umbilical
cord blood as well as tissues into iPSCs is further creating lucrative growth
opportunities for the key market players. Moreover, surging demand for the
development of vaccines using different human diploid and non-tumorigenic cell
lines for protecting against various diseases is expected to create headway for
the growth of stem cell market in the country over the coming years. Furthermore,
huge success of regenerative medicine is anticipated to offer healthy push to
the market growth through FY 2026. Also, improvements in banking facilities coupled
with the enhancement of stem cell production, storage and characterization are
some other factors that are expected to lead revenue generation in the market
in the years to come. However, ethical issues associated with pluripotent stem
cells might act as a major impediment to the growth of India stems cells market
through FY 2026.
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India stem cell market is segmented
based on product type, application, technology, end user and region. Based on application,
the market can be categorized into regenerative medicine and drug discovery
& development. Among them,
the regenerative medicine segment dominated the market in terms of highest
revenue share until 2019 and is expected to continue its dominance during the
forecast period as well. This growth can be attributed to the escalating
adoption and continuing development of companion diagnostics and personalized
medicine to be used in oncology and other chronic infections. Drug discovery
& development segment
is anticipated to record high growth over the next 5 years on account of ease
of programming for developing the cells of the heart, liver and other human
organs to make drug testing process accurate and less expensive.
Thermofisher Scientific India Pvt. Ltd.,
Pluristem Technologies Ltd., Becton Dickinson Private Limited, Stem Cell
Technologies India Pvt. Ltd., Merck Lifescience Pvt. Ltd., Cordlife India Pvt.
Ltd., LifeCell International Pvt. Ltd., StemCyte India Therapeutics Private
Limited, Stempeutics Research Private Limited, ReeLabs Private Limited, among others
are some of the leading players operating in India stem cell market.
These market players are focusing more on strategic partnerships in order to
expand their reach.
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“India
stem cell market is expected to witness significant growth during the forecast
period. Moreover, rising awareness regarding stem cell therapies is propelling
the growth of the country’s stem cell market.
In terms of technology, the market is segregated into cell acquisition,
cell production, cryopreservation and expansion & subculture, out of which,
cell acquisition technology is forecast to dominate the market until FY 2026 owing
to the anticipated growth in cell harvesting technologies.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Stem Cell Market By Product Type, By
Application, By Technology, By Region, Competition Forecast &
Opportunities, FY 2026” 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.
Contact
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