New York, USA, June 30, 2022 (GLOBE NEWSWIRE) — Stem Cell Manufacturing Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Stem Cell Manufacturing Market Information by Application, Product, End-User, and Region – Forecast till 2030“,” the stem cell manufacturing market will touch USD 21 Billion by 2030 at a CAGR of 11.2%.
Stem Cell Manufacturing Market Synopsis
Stem cell can be described as an unspecialized cell that becomes a specialized cell and then forms different kinds of tissues within the human body. These can renew themselves via mitotic cell division and differentiate into several specialized cell types. They are crucial in the growth, maintenance, repair, and development of bones, brains, nerves, muscles, skin, blood, and other organs.
Stem cells are present in every human, right from the early phase of growth to the end of life. Research related to stem cells holds remarkable promise for the growth of novel therapies for a series of life-threatening and serious conditions and injuries.
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|Market Size||21 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, Product and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Growing awareness about the use of stem cells in therapeutic treatments of various organ diseases|
|Increased number of stem cell organizations have also boosted the market growth|
Stem Cell Manufacturing Market Competitive Landscape:
The affluent companies in the stem cell manufacturing industry include
- STEMCELL Technologies Inc. (US)
- Bio-Rad Laboratories Inc (US)
- Thermo Fisher Scientific (US)
- Bristol-Myers Squibb Company (US)
- Lonza (Switzerland)
- Merck KGaA (Germany)
- HiMedia Laboratories (India)
- Athersys Inc (US)
- Becton, Dickinson and Company (US)
Stem Cell Manufacturing Market USP Covered:
Stem cells help effectively manage diseases while also playing an integral role in specialized research activities including genomic testing and personalized medicine. Considering the surging awareness with regard to cells’ therapeutic potency and the low availability of effective therapeutic treatment lines for orphan disorders, several private and public stakeholders are investing stems in the development of advanced stem cell-based technologies.
Following the COVID-19 outbreak, the number of clinical trials went down as enrollment of new participants fell. On the bright side, researchers are exploring new treatments and therapies to address the challenges brought on by the pandemic. Stem cells have emerged as the ideal solution in this scenario, as they are effective in treating pulmonary disorders such as COVID-19. Stem cell therapies procured from MSCs exhibit significant potential of treating the disease. Therefore, a considerable increase in the number of clinical trials has been noted in recent months. Countries like Spain, the US, France, the UK, Mexico, and Belgium are focused on carrying out clinical trials related to stem cell therapies for effective treatment of the novel coronavirus.
Emerging nations including South Korea, China, and India, lend strong support to their respective stem cell companies through regulatory policies that facilitate the commercialization as well as research activities related to stem cell therapy. These favorable regulatory frameworks in emerging countries are touted to offer lucrative opportunities to the local and global companies in the next several years.
Stem cell isolation, storage, and purification need specialized methods like differentiation, expansion, cryopreservation, and cell culture media preparation. Besides, the production of stem cell lines and associated accessories come along with substantial technical challenges that hamper the entire manufacturing process. This also leads to considerable operational costs. As a result, stem cell products generally cost a lot more than pharmaceutical drugs as well as biologics.
Browse In-depth Market Research Report (116 Pages) on Stem Cell Manufacturing: https://www.marketresearchfuture.com/reports/stem-cell-manufacturing-market-6942
Stem Cell Manufacturing Market COVID 19 Analysis
The COVID-19 outbreak’s significant impact has led to numerous severe repercussions on people’s health status across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the cases rising have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. These factors will most likely be unfavorable for the stem cell manufacturing market in the years to come.
Stem Cell Manufacturing Market Segmentation
Stem cell manufacturing industry can be considered for application, product, and end-users.
The major applications of stem cell manufacturing include research and cell, tissue banking, and therapy. The research and cell application is the top segment in the worldwide market owing to the surging emphasis on stem cell pathophysiology and cytology research, and the rising public-private spending on stem cell product development as well as commercialization.
The products mentioned in the MRFR study for the stem cell manufacturing market are stem cell lines, consumables, culture media, and instruments. The highest share will be captured by the stem cell line segment, which would record a substantial growth rate and also touch USD 9,366.9 Million during the forecast period. Stem cell lines are in high demand due to their potential to replace, repair, and regenerate tissues.
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By Industry End-User
The top industry end-users are hospitals & stem cell banks along with pharmaceutical/biotechnology companies & CROs. The pharmaceutical/biotechnology companies form the leading segment in the global industry, thanks to the surging emphasis on various strategic initiatives including partnerships, collaborations, and acquisitions by biotech and pharma companies to enhance their capabilities in stem cell research.
Stem Cell Manufacturing Market Regional Insights
The regions where the stem cell manufacturing market will witness growth include Europe, the Americas, the Middle East & Africa/MEA as well as Asia Pacific or APAC.
In 2017, the largest market for stem cell manufacturing owned to America, which accounted for a share of 49.1% and can continue to thrive significantly in the years to come. Accelerated cases of cancer, the strong presence of well-organized and burgeoning biotechnology and pharmaceutical sectors along with the technical innovations are some of the prime growth boosters. Frequent grants and funding provided by the governments the region enhances the market size as well. In the region, North America is the highest gainer, with the United States standing at the vanguard.
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The European market comes second globally and can clock in an attractive CAGR of 17.5% from during the forecast period, thanks to the exhaustive stem cell research activities frequently conducted in the region. The large-scale public-private funding, as well as grants that facilitate clinical assessment of stem cells for multiple applications, also benefit the European market.
Asia Pacific is significant progress, while China will cover considerable health grounds in the global market owing to the developing infrastructure coupled with the rising disposable income. The market size in the region is further bolstered by the rise in government initiatives aimed at improving the health care industry and facilitating extensive researches on stem cell therapy in view of the growing number of cancer cases.
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