Global Stem Cell Manufacturing Market Latest Innovations, Drivers and Industry Status 2022 to 2027| HiMedia Laboratories (India), Bio-Rad Laboratories Inc (US), Athersys Inc (US), Lonza
Research Reports
Apr 13, 2022
Stem Cell Manufacturing Market Overview:
The global stem cell manufacturing market is predicted to expand significantly at 6.6?GR during the forecast period (2018-2023). The process of stem cell manufacturing is used to extract cells from the peripheral blood cells or the bone marrow. The cells that are extracted are cultured in a dish having nutrient media. The stem cells are isolated from menstrual blood, adipose tissue, amniotic sac and fluid, placenta or umbilical cord blood.
There are numerous factors that is driving the stem cell manufacturing market. Some of the market factors and trends in this market as per a study conducted by Market Research Future (MRFR) include growing funding and public-private investments in the stem cell-based research, increasing awareness about stem cell products’ therapeutic potency, creation of advanced genomic analysis methods for quality control at the time of stem cell manufacturing, advancements in technology in manufacturing and preservation of stem cells and evolving regulatory frameworks concerning stem cell therapeutics. On the contrary, high expenditure of manufacturing and research processes and stringent regulations laid down by some regions on the manufacturing of stem cells may hamper the stem cell manufacturing market growth.
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Stem Cell Manufacturing Market Top Companies:
The renowned manufacturers are currently indulging in corporate acquisitions, product launches, and geographic expansions in a bid to attain a better position in the global market. Furthermore, the companies are seeking the help of e-commerce for distribution of their products. Other than this, various companies are also striving to expand their international footprints by penetrating the untapped markets.
Some of these players in the global stem cell manufacturing market include HiMedia Laboratories (India), Bio-Rad Laboratories Inc (US), Athersys Inc (US), Lonza (Switzerland), Becton, Dickinson and Company (US), Fujifilm (New York), Bristol-Myers Squibb Company (US), Thermo Fisher Scientific (US), STEMCELL Technologies Inc. (US), Merck KGaA (Germany), and others.
Stem Cell Manufacturing Market Segmental Analysis:
The global market for stem cell manufacturing is segmented based on application, product, and end user.
With respect to the application, the market is considered for therapy, research and cell, and tissue banking.
The stem cell manufacturing market, in terms of product, caters to stem cell lines, instruments, consumables, and culture media. Among these, the stem cell lines segment is expected to cover the largest portion of the market, displaying a lucrative CAGR of 7.9% to attain the valuation of USD 9,366.9 million by 2023. On account of its exceptional qualities of repairing, replacing, and regenerating tissues, the demand for stem cell lines has surged at a considerable pace in recent years.
The end-users covered by the report are pharmaceutical/biotechnology companies & CRO and hospitals & stem cell banks.
Stem Cell Manufacturing Market Regional Overview:
The worldwide market for stem cell manufacturing is spread across the main regions of Europe, the Americas, Asia Pacific, as well as the Middle East & Africa.
In 2017, the Americas had been identified as the largest market for stem cell manufacturing, with the region predicted to maintain its lead even during the conjectured time frame. The region houses several well-established biotechnology and pharmaceutical companies, which is expected to catalyze the development of the regional market for stem cell manufacturing. In addition, the rising burden of cancer in the region is anticipated to trigger the demand for innovations in stem cell therapies, thereby elevating the market position within the region.
Europe has managed to climb the global chart at a significant pace, accumulating the second-largest share in the overall market. The crucial factors helming the growth of the regional market include the constant efforts being put in by prominent manufacturers, increasing the prevalence of cancer, elevated healthcare expenditure, and the rise in technologically advanced products.
The Asia Pacific market for stem cell manufacturing is believed to be growing at the fastest rate across the globe. The strong market growth in the region is the result of a highly favorable reimbursement scenario backed by various governmental bodies pertaining to medical procedures. The market in the region also benefits from an expanding geriatric population coupled with the growing demand for relevant treatment processes.
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