Global Stem Cell Manufacturing Market Research Report by Product Stem Cell Lines, Instruments, Culture Media, Consumables by Application Research, Target Identification, Therapy, Cell & Tissue Banking, by End User Hospitals, Others - Forecast Till 2023
Stem Cell Manufacturing Market - Highlights
The Stem Cell Manufacturing Market is expected to have accounted for the market value of USD 10.8 billion in 2017 and is projected to grow at a CAGR of 6.6% over the assessment period. Stem cell manufacturing is a process in which cells from the bone marrow or peripheral blood cells are isolated and cultured in a culture dish containing nutrient media. Rising stem cell related transplants, increasing number of clinical trials for stem cell therapies and growing stem cell research is anticipated to boost the growth of the Stem Cell Manufacturing Market Research during the assessment period.
According to a report published by Lozier Institute in November 2017, there are nearly 3,500 ongoing or completed clinical trials (in patients) using adult stem cells, as listed in the National Institutes of Health/FDA-approved database. On the other hand, high costs associated with stem cell research and stringent government regulations may hinder the market growth during the forecast period.
Currently, the global market is dominated by numerous prominent players. The key players in the market are engaged in product approvals, strategic collaborations and acquisitions to strengthen their market position. For instance, in April 2018, STEMCELL Technologies Inc. announced a government funding worth USD 45 million for advanced manufacturing facility to manufacture its stem cell products at high regulatory compliance standards.
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The global stem cell manufacturing market has been segmented into product, application and end user.The market, on the basis of product, has been segmented into stem cell lines, instruments, culture media and consumables. Stem cell lines are further segmented into hematopoietic stem cells (HSCs), mesenchymal stem cells (MSCs), induced pluripotent stem cell (iPSC), embryonic stem cell (ESC) and others. On the basis of products, instruments are further segmented into bioreactors, incubators, cell sorters and others.
The global market, on the basis of application, has been segmented into research, target identification, therapy and cell & tissue banking. Therapy is further segmented into autologous and allogeneic. Cell and tissue banking segment is expected to hold the largest market share owing to increasing demand for cord blood stem cell banking and also rising awareness regarding stem cell preservation. Research segment is expected to be the fastest growing owing to increasing focus on stem cell research.The global stem cell manufacturing market, by end user, has been segmented into hospitals, pharmaceutical & biotechnology companies, stem cell banks and others.
Some of the prominent players in the global stem cell manufacturing market are Thermo Fisher Scientific, Merck KGaA, BD, Bio-Rad Laboratories, Inc., Lonza, AbbVie Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, FUJIFILM Cellular Dynamics, Inc. (FCDI), American CryoStem Corporation, Takara Bio Inc., Miltenyi Biotec, STEMCELL Technologies Inc. and Others.
On the regional basis, the global market in the Americas is segmented into two major regions, i.e., North America and South America. The North American region is likely to hold the major share in the global stem cell manufacturing market owing to the rising stem cell research activities in the region, increasing stem cell transplants and government support in terms of fundings for the research. According to a report published by Lozier Institute in November 2017, for patients with multiple myelomas, more than 30,000 bone marrow and umbilical cord blood transplants were performed between 2010 and 2014 in the US. The European region is anticipated to be the second largest due to the presence of a well-developed healthcare infrastructure and rising adoption of new technologies. The Asia-Pacific region is anticipated to be the fastest growing region due to the rising stem cell manufacturing research and increasing awareness regarding stem cell therapies. Middle East and Africa is anticpated to hold the least market share.
The global Stem Cell Manufacturing market has been segmented into product, application and end user.
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