by Market Overview:
The global human platelet lysate market is estimated to be valued at US$ 53.0 million in 2023 and is expected to exhibit a CAGR of 4.54% over the forecast period of 2023-2030. Human platelet lysate is a growth supplement used in various cell culture applications. It offers several advantages over traditional fetal bovine serum, including reduced risk of disease transmission and better retention of cell viability and functionality. The need for human platelet lysate is associated with the growing demand for advanced cell-based therapies and regenerative medicine. The market is driven by the rising prevalence of chronic diseases and the increasing focus on personalized medicine.
Market Key Trends:
One key trend in the human platelet lysate market is the growing adoption of stem cell therapy. Stem cell therapy holds immense potential for treating a wide range of diseases and injuries by regenerating damaged tissues and organs. Human platelet lysate plays a crucial role in the expansion and differentiation of stem cells, making it an essential component in stem cell therapy. The increasing number of clinical trials and research studies exploring the efficacy of stem cell therapy is driving the demand for human platelet lysate. This trend is expected to continue during the forecast period, as researchers and healthcare professionals explore new applications and advancements in regenerative medicine.
Segment Analysis
The human platelet lysate market can be segmented based on end user and application. In terms of end user, the dominating segment is the research and academic institutes. These institutes play a crucial role in conducting experiments and studies related to regenerative medicine and cell therapy. They require human platelet lysate for culturing and expanding stem cells, which makes them the major consumers in the market. Moreover, the increasing focus of research institutes on discovering new therapeutic applications of stem cells is driving the demand for human platelet lysate.
In terms of application, the dominating segment is the cell therapy segment. Cell therapy has gained significant attention in recent years for its potential in treating various diseases and disorders. Human platelet lysate is extensively used in cell therapy as a supplement for growth medium to enhance the proliferation and differentiation of cells. The growing adoption of cell therapy for the treatment of conditions such as cancer, cardiovascular diseases, and degenerative disorders is fueling the demand for human platelet lysate in the market.
Key Takeaways
The Global Human Platelet Lysate Market Size is expected to witness high growth, exhibiting a CAGR of 4.54% over the forecast period. This growth can be attributed to several factors. Firstly, the increasing prevalence of chronic diseases and the growing demand for regenerative medicine are driving the adoption of cell therapy, which in turn is driving the demand for human platelet lysate. Secondly, the rising investments in stem cell research and the development of advanced cell culture techniques are further propelling the market growth.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the human platelet lysate market. This can be attributed to the presence of well-established research institutes, high investments in regenerative medicine, and favorable reimbursement policies. Moreover, the increasing prevalence of chronic diseases and the growing geriatric population in this region are driving the demand for cell therapy, thereby boosting the market growth.
Key players operating in the human platelet lysate market include STEMCELL Technologies Inc., Merck KGaA, Mill Creek Life Sciences, Merck & Co., Inc, AventaCell BioMedical, Compass Biomedical, Inc, Macopharma SA, Trinova Biochem GmbH, PL BioScience GmbH, Cook Regentec, Life Science Group Ltd., BBI Solutions, Regenexx, and Thermo Fisher Scientific. These key players focus on strategic collaborations, mergers and acquisitions, and product launches to strengthen their market position and expand their product portfolios in the human platelet lysate market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
