by Market Overview
The stem cell assay market deals with research tools, reagents, and platforms used for the isolation, cultivation, and characterization of stem cells. Stem cell assays are used for both embryonic as well as adult stem cells derived from adipose tissue, bone marrow, peripheral blood, and umbilical cord. These assays help assess stem cell viability, self-renewal capacity, proliferation rate, and differentiation potential. They enable detailed examination of stem cells’ morphology, phenotype, developmental potential, and other key attributes. The increasing applications of stem cells in regenerative medicine, drug discovery, and toxicology testing are fueling the need for reliable stem cell assay solutions.
The Global Stem Cell Assay Market is estimated to be valued at US$ 2.5 billion in 2024 and is expected to exhibit a CAGR of 32% over the forecast period from 2024 to 2031.
Key Takeaways
Major players in Stem Cell Assay Market are Thermo Fisher Scientific, Merck KGaA, Becton, Dickinson and Company, GE Healthcare, Bio-Rad Laboratories, Promega Corporation, Cell Biolabs, Cellular Dynamics International.
The rising incidence of chronic diseases along with the growing geriatric population globally is driving the demand for stem cell-based therapies and clinical research. Stem cell assays are indispensable tools in the development of stem cell therapies for conditions like Parkinson’s disease, spinal cord injury, diabetes, and cardiovascular disease.
Several companies are expanding their geographic presence and building manufacturing facilities across Stem Cell Assay Market Share to strengthen regional supply networks and better serve clinical research institutes and biopharmaceutical end-users. For instance, Merck KGaA is establishing new stem cell manufacturing sites in Europe and Asia.
Market Key Trends
One of the key trends in the stem cell assay market is the increasing focus on developing microfluidic platforms for isolation, cultivation, and analysis of stem cells. Microfluidics offers benefits like lower reagent consumption, high-throughput processing, precise control over microenvironments, and real-time monitoring. Startups like CN Bio Innovations and Celver are offering microfluidic systems integrated with imaging and analytics for applications like stem cell research, drug screening, and toxicology testing. These systems are garnering significant interest due to enabling characteristics like analysing rare cells in small volumes of blood or other body fluids.
Porter’s Analysis
Threat of new entrants: Low capital requirements and moderate economies of scale in stem cell manufacturing creates threat of new entrants in the market.
Bargaining power of buyers: Large pharmaceutical companies and research organizations have significant influence over stem cell assay manufacturers due to bulk procurement.
Bargaining power of suppliers: Strong expertise and proprietary technologies employed in developing stem cell assay products give significant bargaining power to suppliers.
Threat of new substitutes: Advent of advanced precision medicine practices poses threat of substitution to traditional stem cell assay products.
Competitive rivalry: Intense competition between established Stem Cell Assay Companies to capture greater market share through continuous innovations.
Geographical Regions
North America region is currently holding major share of the global stem cell assay market value owing to conducive regulatory framework and massive investments in stem cell research activities in the US and Canada.
Asia Pacific region is anticipated to witness fastest growth during forecast period due to increasing stem cell therapeutics funding, rising geriatric population, growing prevalence of chronic diseases and rapid establishment of clinical research centers and stem cell banks mainly in China, India and Japan.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
