Stem cells act as a building of the human body that can develop into many different cell types such as blood and tissue cell. Stem cells have the potential to recreate and protect the body from within. In cases where a disease or condition affects cell tissue, stem cell therapies can repair damaged tissue, repair organs & treat diseases. Stem- plays a vital role in the treatment of neurodegenerative diseases and conditions such as diabetes and heart disease.
The global stem cell manufacturing market is projected to gain a significant CAGR in the forecasting period from 2020-2027. The major factors are the growing demand for stem cell-based research and increasing R&D investments. Additionally, the increasing advancement in stem cell manufacturing &preservation and growing public awareness about the therapeutic potency of stem cell products will spur the global stem cell manufacturing industry in the future periods. Furthermore, the growing public-private funding for stem cell research and development of advanced genomic analysis techniques for quality control during stem cell manufacturing is expected to witness remarkable growth of stem cell manufacturing. The increasing demand for stem cell products in medical applications and treatment of numerous diseases, especially cancer, is expected to propel the demand for stem cell manufacturing over the coming years.
Moreover, rising public awareness for stem cell therapies and the increasing need for stem cell is positively impacting the market for stem cell manufacturing industry. Furthermore, the rapid expansion in customer base, rise in the extensive R&D activities at the academic and industrial level, and increasing scope of biomedical applications are fueling the demand for the stem cell manufacturing market. The growing applications of stem cells in the development of new drugs and toxicology testing will bolster the global stem cell manufacturing market share growth. Additionally, the growing population and increasing healthcare demands in the developing world propelling the growth of the stem cell manufacturing market across the globe.
Stem cell banking is collecting, processing, and storing potentially life-saving stem cells for future use in therapies and regenerative medicine. Umbilical cord blood, cord tissue, and dental tooth pulp are rich sources of stem cells. Currently, cord blood stem cells can be used in therapies and transplants to cover over 85 diseases, including leukemias, bone marrow cancer, lymphomas, and anemias. In addition, Stem cell banking offers the opportunity to have your precious cells cryogenically frozen for several years, ready for future use. However, the high cost of research and manufacturing can be a restraint to the growth of the stem cell manufacturing market.
The global stem cell manufacturing market is segregated into stem cell lines, instruments, culture media, and consumables based on the product. The culture media segment is estimated to witness the highest growth over the analysis timeframe due to increasing research on stem cells and the rising demand for stem cell therapies.
The stem cell line will grow significantly due to the rising demand for regenerative medicines and increasing research & studies in stem-cell biology.
Based on the application, the global stem cell manufacturing market is classified into research applications, clinical applications, and cell and tissue banking applications. The cell and tissue banking applications are expected to be the highest revenue share for stem cell manufacturing during the forecast period. The segment’s growth is primarily assigned to the rising number of stem cell-based research, increasing demand for cord blood stem cell banking, and rising awareness regarding the prospective advantages of stem cell preservation.
The clinical applications will witness a lucrative growth rate in the estimated period due to increasing demand for stem cell therapy, rising awareness towards degenerative medicines, and increasing need for hematopoietic stem cell transplantation.
Based on the end-user, the global stem cell manufacturing market is segmented into hospitals & surgical centers, pharmaceutical & biotech companies, cell banks & tissue banks, academic institutes & research laboratories, cross and other end-users.
The pharmaceutical & biotechnology companies segment will dominate the global stem cell manufacturing market by 2027. Due to increasing patient’s preference for regenerative medicine, rising investment for cell-based research, and increasing demand for new drug development.
The hospital and surgical centers accounted for the largest share of the stem cell manufacturing market in 2019 on account of a surge in the number of hospitals & surgical centers using stem cells, economic expansion, and government focus on broader healthcare policies.
By geography, the global stem cell manufacturing market is segmented into North America, Europe, South America, Asia Pacific, and The Middle East & Africa. North America is estimated to project considerable swelling over 2020-2026. It is due to advances in technology, leading industry players offering leading-edge products & services, and increasing healthcare expenditure.
The Asia Pacific will surely capture a prominent share of the stem cell manufacturing market by 2027 due to the presence of a regulatory framework for stem cell research & manufacturing, continually improving healthcare infrastructure in the region and mounting health care expenditures in emerging countries such as India and China.
Companies such as Thermo Fisher Scientific, Bio-Rad Laboratories, Merck Group, Stemcell Technologies, Becton Dickinson and Company, Takara Bio Group, Lonza Group, Medipost Co Ltd, MiltenyiBiotec, Pharmicell, Osiris Therapeutics, Anterogen, Cellular Dynamics International, HolostemTerapieAvanzate, and Pluristem Therapeutics are the key players in the global stem cell manufacturing market.