(PharmaNewsWire.Com, November 26, 2024 ) The global Stem Cell Manufacturing Market growth in terms of revenue was estimated to be worth $12.7 billion in 2023 and is poised to reach $21.8 billion by 2028, growing at a CAGR of 11.3% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The key factors driving the growth of the global stem cell manufacturing market are rising awareness about stem cell products in clinical applications and technical advancements in stem cell manufacturing. However, stringent regulatory policies are expected to restrain market growth to a certain extent.
Consumables products accounted for the largest share of the stem cell manufacturing market.
Among the products, the stem cell manufacturing market is segmented into instruments, consumables, and stem cell lines. In 2023, the consumables products segment accounted for the largest share of the stem cell manufacturing market. Growth in this market segment can be attributed to increasing research of stem cell-based therapies, and increasing purchase and demand of consumables are expected to form the fastest growth segment in the stem cell manufacturing market.
The cell & tissue banking applications segment is the fastest-growing segment of the stem cell manufacturing market.
In 2023, the cell & tissue banking applications segment accounted for the fastest-growing share of the application segment of the stem cell manufacturing market. Market growth can largely be attributed to the potential development of advanced storage methodologies. The market is also driven by increasing public demand for cord blood stem cell banking and rising awareness regarding the advantages of stem cell preservation.
Asia Pacific: The fastest-growing region in the stem cell manufacturing market.
The Asia Pacific stem cell manufacturing market is projected to grow at the highest CAGR during the forecast period, mainly due to increasing awareness of stem cell transplants and a large number of pipeline products. The Asian market has also garnered significant attention from global players due to the increased focus on personalized medicine, driving the demand for stem cell-based therapies.
The market for stem cell manufacturing is highly fragmented, with key players strategizing to capture a majority of the market. Prominent players in the market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Lonza Group (Switzerland), Danaher Corporation (US), Sartorius AG (Germany), Becton, Dickinson, and Company (US), Eppendorf AG (Germany), Corning Inc. (US), Bio-Rad Laboratories (US), Takara Bio Group (Japan), Fujifilm Holdings Corporation (Japan), Getinge AB (Sweden), Terumo Corporation (Japan), Bio-Techne Corporation (US), HiMedia Laboratories (India), StemCell Technologies, Inc. (Canada), Miltenyi Biotec GmBH (Germany), PromoCell (Germany), Anterogen Co. Ltd. (South Korea), CellGenix GmBH (India), Pluristem Therapeutics Inc. (Israel), Daiichi Sankyo (Japan), Organogenesis Holdings Inc. (US), Vericel Corporation (US), and American Cryostem Corporation (US).
Recent Developments:
-In April 2023, U.S. Food and Drug Administration approved Omisirge (omidubicel), a substantially modified allogeneic (donor) cord blood-based cell therapy to quicken the recovery of neutrophils (a subset of white blood cells) in the body and reduce the risk of infection. Developments like this are increasing the demand for stem cell therapies and culture media. -In October 2022, Froilabo (France) announced the launch of a new range of fully automated lab-scale bioreactors. The bioreactor offers a great range of application possibilities suited to academia, research, process development and optimization, scale-up, and production. -In January 2023, the life science group Sartorius extended a strategic collaboration partnership agreement with RoosterBio Inc. (RoosterBio) to address purification challenges and establish scalable downstream manufacturing processes for exosome-based therapies. -In November 2021, GenScript announced today that it had launched the GenWand Double-Stranded DNA (dsDNA) Service for the manufacture of STEM CELL MANUFACTURING knock-in homology-directed repair (HDR) templates in T cell engineering.
Regenerative Medicine Advancements: Stem cell manufacturing enables the development of regenerative therapies that harness the body's own healing capabilities. These therapies have the potential to treat a wide range of diseases and conditions, such as cardiovascular disorders, neurodegenerative diseases, and musculoskeletal injuries, offering new hope to patients who have limited treatment options. Personalized Medicine: With advancements in stem cell manufacturing, it becomes feasible to create patient-specific stem cell lines through induced pluripotent stem cells (iPSCs) and gene editing technologies. This personalized approach reduces the risk of immune rejection, increases treatment efficacy, and allows for tailored therapies designed to address each patient's unique needs. Scalability and Standardization: Automated bioreactors and 3D bioprinting techniques enable the mass production of stem cells with consistent quality, minimizing batch-to-batch variations. This scalability and standardization enhance the efficiency of stem cell manufacturing processes, making these therapies more accessible and cost-effective for a broader patient population. Reduced Reliance on Donor Cells: Traditional stem cell therapies often require donor cells, which can be scarce and challenging to match. With stem cell manufacturing, the need for donor cells can be significantly reduced, circumventing issues of availability and compatibility, and making treatments more readily available. Enhanced Safety and Quality Control: Strict regulatory frameworks in the stem cell manufacturing industry ensure that therapies meet rigorous safety and quality standards. Stringent testing and monitoring processes minimize the risk of contamination and adverse effects, fostering public confidence in these innovative treatments. Economic Growth and Job Creation: The rapid growth of the stem cell manufacturing industry creates new economic opportunities and jobs across various sectors, including research, development, manufacturing, and healthcare, contributing to overall economic growth and advancement. Long-term Health Benefits: Stem cell therapies have the potential to provide long-term or even curative effects for certain diseases, reducing the need for ongoing treatments and improving patients' quality of life. Overall, the stem cell manufacturing market's advantages offer a promising future for regenerative medicine, personalized therapies, and improved patient outcomes, holding the potential to transform healthcare as we know it.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
