Pune, India, March 2023/MRFR Press Release/- Market Research Future has published a cooked research report on the Global Stem Cell Manufacturing Market.
Growing awareness regarding the usage of stem cells for treating various diseases and increasing prevalence of rare diseases are projected to fuel the growth of the global stem cell manufacturing market at a CAGR of 13.16% during the forecast period 2022 to 2030.
Market Research Future (MRFR) has published a cooked research report on the “global stem cell manufacturing market” that contains the information from 2018 to 2030. The global stem cell manufacturing market is projected to register a CAGR of 13.16% during the forecast period of 2022 to 2030.
MRFR recognizes the following companies as the key players in the global stem cell manufacturing market— Fujifilm Holdings Corporation (US), AbbVie, Inc. (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson, and Company (US), Thermo Fisher Scientific, Inc. (US), Lonza Group (Switzerland), Bristol-Myers Squibb Company (US), GlaxoSmithKline Plc (UK), Sartorius AG (Germany), and Merck KGaA (Germany).
The global stem cell manufacturing market is accounted to register a CAGR of 13.16% during the forecast period and is estimated to reach USD 32.39 billion by 2030.
The growth of the global stem cell manufacturing market is attributed to the growing awareness regarding the usage of stem cells for treating various diseases, the increasing prevalence of rare diseases, and technological advancements in stem cell manufacturing.
Additionally, the increasing public and private funding for stem cell-based research will provide growth opportunities for the market in the future.
However, risks associated with unproven stem cell treatments and the higher operational costs of stem cell manufacturing and banking might hamper the market growth in the forecast period.
The global stem cell manufacturing market has been segmented based on product, application, and end user.
On the basis of product, the market is segmented into stem cell lines, instruments, culture media, and consumables. The stem cells lines further segmented into mesenchymal stem cells (MSCS), induced pluripotent stem cell (IPSC), embryonic stem cell (esc), hematopoietic stem cells (HSCS) and others. The stem cell lines segment held the largest market in 2021. Moreover, instruments further segmented into bioreactors, incubators, cell sorters and others.
The global stem cell manufacturing market, on the basis of application, has been segmented into research, target identification, stem cell-based therapy and cell & tissue banking. Furthermore, stem-cell based therapy further bifurcated into autologous and allogenic.
The global stem cell manufacturing market, on the basis of end user, has been segmented into pharmaceutical and biotechnology companies, hospitals, stem cell banks, and others. The pharmaceutical and biotechnology companies segment held the largest market in 2021.
Access full report @ https://www.marketresearchfuture.com/reports/stem-cell-manufacturing-market-6942
The global stem cell manufacturing market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe global stem cell manufacturing market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The global stem cell manufacturing market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The rest of the world global stem cell manufacturing market comprises of Middle East, Africa, and Latin America.
The growing number of clinical trials for stem cell treatment is supplementing the North America market's growth. For instance, according to UC San Diego Health (US), in April 2019, the first-ever cancer patient was treated with Human-Induced Pluripotent Stem Cell (iPSC) derived natural killer cells during phase I clinical trial.
Moreover, the improving government initiatives & healthcare frameworks and the presence of government organizations are driving the growth of the stem cell manufacturing market in Europe. The EuroStemCell is an EU-funded project aimed at increasing public participation in stem cell and regenerative medicine research. It assists patients, educators, regulators, and policy makers regarding stem cells and their impact on society, increasing demand for stem cell lines, stem cell instruments, and consumables and positively impacting the market.
Furthermore, Asia-pacific stem cell manufacturing market is the fastest growing market during the forecast period due to the factors such as improving healthcare infrastructure, growing adoption of stem cell therapy treatments, availability of contract manufacturers, and rising prevalence of cancer in the region, which are likely to drive the market’s growth.
Additionally, low healthcare expenditure and unstable political situations are also affecting the market growth to an extent in the Middle East. However, improving healthcare infrastructure and increasing government initiatives for stem cell manufacturing in the Middle East region are likely to favor the market growth.
Key Findings of the Study