New York, June 09, 2021 (GLOBE NEWSWIRE) — Major factors driving market revenue growth include increasing use of stem cells to treat various diseases, rising stem cell-based research activities, and growing funding for stem cell-based research.
Market Size – USD 17.05 Billion in 2020 Market Growth – 6.8% Market Trends – Technological advancements in cell therapy and an increased emphasis on the development of personalized medicines
The global stem cell manufacturing market size is expected to reach USD 28.85 billion in 2028, registering a CAGR of 6.8% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth include increasing use of stem cells to treat various diseases, rising stem cell-based research activities, and growing funding from private and public organizations for stem cell-based research. Technological advancements in cell therapy and an increased emphasis on the development of personalized medicines are further contributing to market growth.
Stem cell manufacturing involves production of stem cells that can be used in cell-based research and therapeutics development. It plays a crucial role in the rapidly expanding stem cell industry. Progressing a cell-based therapeutic from pre-clinical stage production through later clinical stages and into commercial production requires scale-up, which is one of the chief drivers for the stem cell manufacturing market growth.
The stem cell manufacturing market has been driven by growing need to understand how diseases occur. By examining the process of stem cells turning into cells in bones, heart muscle, nerves, and other organs and tissue, researchers can better understand how diseases and conditions develop.
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The demand for stem cell manufacturing has also been rising as stem cells are being used to generate healthy cells and replace diseased cells or in the development of regenerative medicine. People who might benefit from stem cell therapies include those with spinal cord injuries, type 1 diabetes, Parkinson’s disease, amyotrophic lateral sclerosis, Alzheimer’s disease, heart disease, stroke, burns, cancer, and osteoarthritis. Stem cells have the potential to be grown to become new tissue for use in transplant and regenerative medicine. Researchers continue to advance knowledge on stem cells and their applications in transplant and regenerative medicine.
Before using investigational drugs in people, researchers use some types of stem cells to test the drugs for safety and quality. This type of testing has a direct impact on drug development for cardiac toxicity testing. New areas of study include the effectiveness of using human stem cells that have been programmed into tissue-specific cells to test new drugs. For the testing of new drugs to be accurate, the cells must be programmed to acquire properties of the type of cells targeted by the drug. Techniques to program cells into specific cells continue to be studied. For instance, nerve cells could be generated to test a new drug for a nerve disease. Tests could show whether the new drug has any effect on cells and whether the cells were harmed.
Factors, such as the unavailability of FDA-approved stem cell treatment products, risks related to unproven stem cell treatments, and lack of government regulations in underdeveloped countries, are expected to restrain market growth.
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Some Key Highlights in the Report:
- The culture media segment held largest share of the market in 2020. Rising stem cell research and increasing demand for stem cell therapies are driving the growth of this segment.
- Cell and tissue banking applications will account for the leading share of the market by 2020.
- Pharmaceutical and biotech firms segment held largest share of the market in 2020.
- North America accounted for largest stem cell manufacturing market share in 2020.
- During the forecast period, the Asia Pacific market is expected to grow at the fastest pace.
Major players in the stem cell manufacturing market are:
- Thermo Fisher Scientific (US)
- Merck Group (Germany)
- Becton, Dickinson and Company (US)
- Bio-Rad Laboratories (US)
- Miltenyi Biotec (Germany)
- Takara Bio Group (Japan)
- STEMCELL Technologies (Canada)
- Pharmicell (South Korea)
- Osiris Therapeutics (US)
- Anterogen (South Korea)
- Cellular Dynamics International (US)
- MEDIPOST (South Korea)
- Lonza Group (Switzerland)
- Holostem Terapie Avanzate (Italy)
- Pluristem Therapeutics (Israel)
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global stem cell manufacturing market on the basis of system type, component and region:
Product Outlook (Revenue, USD Billion; 2018 – 2028)
- Stem Cell Lines
- Embryonic Stem Cells (ESCs)
- Hemopoietic Stem Cells (HSCs)
- Mesenchymal Stem Cells (MSCs)
- Multipotent Adult Progenitor Stem Cells
- Induced Pluripotent Stem Cells (iPSCs)
- Neural Stem Cells (NSCs)
- Bioreactors & Incubators
- Cell Sorters
- Other Instruments
- Culture Media
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Cell and Tissue Banking
End User Outlook (Revenue, USD Billion; 2018 – 2028)
- Hospitals and Surgical Centres
- Pharmaceutical and Biotech Companies
- Cell Banks and Tissue Banks
- Academic Institutes, Research Laboratories, and CROs
Regional Outlook (Revenue, USD Billion; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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