The Stem Cell Manufacturing Market is estimated to be valued at US$ 12415.84 Mn in 2023 and is expected to exhibit a CAGR of 13.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stem cell manufacturing involves various processes which are used for derivation, large-scale expansion, and differentiation of stem cells to manufacture cell therapies. Stem cell manufacturing takes stem cell banking or cell line development as the starting material and through series of downstream processing results in final cell therapy product. It helps in treating diseases such as cancer, diabetes, cardiovascular disorders, and neurological disorders. The wide range of therapeutic applications of stem cells coupled with ongoing research & development is augmenting growth of the market.
Market Dynamics:
The stem cell manufacturing market is witnessing significant growth due to rising demand for regenerative medicines. Growing prevalence of chronic diseases such as cancer, cardiovascular disorders, diabetes, neurological disorders, and musculoskeletal disorders is leading to increasing demand for advanced treatment solutions. According to the American Heart Association, cardiovascular disease is the leading global cause of death, accounting for over 17.9 million deaths in 2019. Stem cell therapies offers potential for effective treatment for various cardiovascular diseases.Further, increasing research funding from public as well as private organizations is also driving the stem cell manufacturing market growth. For instance, as per the Alliance for Regenerative Medicine, annual global investments in regenerative medicine rose from $1.5 billion in 2010 to $28 billion in 2021, reflecting 17.5% CAGR.
Segment Analysis
The stem cell manufacturing market is segmented into tools and consumables and services. The tools and consumables segment dominated the market in 2023, accounting for around 60% share. This segment includes bioreactors, pumps, cell processing equipment, biosafety cabinets, cytotoxity cabinets, filers, cell counters and analyzers etc. The demand for these tools and consumables are higher as they are essential components in every stem cell manufacturing process.
PEST Analysis
Political: The stem cell research regulations differ from country to country. Favourable government initiatives and rise in healthcare expenditure are supporting market growth.
Economic: The global stem cell manufacturing market size was valued at US$ 12415.84 Mn in 2023, exhibiting a CAGR of 13% during the forecast period. Rising healthcare costs and growing investment in stem cell therapy development are promoting market expansion.
Social: Increasing public awareness about potential benefits of stem cells in disease treatment and rise in the adoption of regenerative medicines are augmenting the market demand.
Technological: Advancements in stem cell culturing and differentiation techniques such as three-dimensional cell culturing are improving process efficiencies. Growing R&D into developing personalized stem cell therapies will further support technological evolution.
Key Takeaways
The Global Stem Cell Manufacturing Market Size is expected to witness high growth, exhibiting a CAGR of 13.3% over the forecast period, due to increasing prevalence of chronic diseases and growth in regenerative medicine industry.
Regional analysis: North America dominated the global market in 2023. However, Asia Pacific is expected to witness the highest growth during the forecast period owing to rising governmental funding for stem cell research, growing healthcare infrastructure and increasing incidence of chronic diseases in counties such as China and India.
Key players operating in the stem cell manufacturing market are TAKARA BIO Inc., PHARMICELL Co., Ltd., MEDIPOST Co., Holostem Terapie Avanzate S.r.l, Bio-Rad Laboratories, Anterogen Co., Ltd., Osiris Therapeutics, Inc (Smith & Nephew PLC), Minaris Regenerative Medicine (Hitachi Chemical Co., Ltd.), Nikon CeLL Innovation Co. Ltd. (Nikon Corporation), Medinet Co. Ltd., Cell and Gene Therapy Catapult, Bio Elpida, Miltenyi Biotec, Pluristem Therapeutics Inc., Thermo Fischer Scientific, Merck Group, Corning Incorporated, Stem Cell Technologies, Lonza Group, Becton, Dickinson and Company, Sartorius, and Cellular Dynamics (Fujifilm Holdings Corporation, among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.