New York City, United States -- With the outbreak of COVID-19 in worldwide and stipulated lockdown, the healthcare sector is witnessing an unprecedented slowdown as per EY-FICCI study titled, ‘COVID-19 impact assessment for healthcare sector and key financial measures recommendations for the sector’. The study is predicated on an assessment of healthcare players within the country to assess the economic impact of the COVID-19 pandemic and provides recommendations on the fiscal stimulus measures it needs within the coming months.
Rising funding for research & development activities, increasing number of research centers, and growing partnerships between research centers, biotechnology companies, and academic institutes for basic research are the prominent driving factors for the growth of the human platelet lysate market.
Also, increasing demand for animal-free serum media is a key catalyzer for the growth of the human platelet lysate market. Human platelet lysates, a growth supplement for in-vitro cell culture, are a suitable alternative to fetal bovine serum, and expected to find application in various therapeutics. The global human platelet lysate market is set to progress at a decent CAGR of around 4% over the period of 2019 to 2029.
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- Merck KGaA
- Compass Biomedical Inc.
- Macopharma SA
- Cook Medical (Cook Regentec)
- Mill Creek Life Sciences Llc.
- Stemcell Technologies Inc.
- Zen-Bio, Inc.
- Sclavo Diagnostics International Srl.
- Life Science Group Limited (Life Science Production)
- Trinova Biochem Gmbh
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Key Takeaways from Human Platelet Lysate Market Study
- Heparin-free platelet lysates and human platelet lysates with heparin are expected to hold almost equal revenue shares in the human platelet lysate market.
- Clinical application of human platelet lysates is expected to gain traction significantly, and hold 90% revenue share in the human platelet lysate market.
- Increasing research & development activities and presence of well-established research institutes are contributing to the dominance of North America in the global human platelet lysate market.
- Academic and research institutes are expected to account for approximately 65% share of the human platelet lysate market.
“Manufacturers can focus on developing countries such as India that offer significant gains in terms of revenue, through the sale of human platelet lysates at an economical cost,” says a PMR analyst.
Increase in Life Science Research Funding
Various government, private, and commercial organizations are focused on increasing research & development activities for continuous innovation in the field of life sciences. These organizations provide funds for ongoing research projects and pipeline products. In 2013, around 59% of total research & development expenditure in the U.S. was from federal funding agencies. In 2016, the National Institute of Health reported investments of nearly US$ 1.4 Bn toward stem cell research in the field of cell biology and electrical engineering.
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A new report by Persistence Market Research provides unparalleled insights on the evolution of the human platelet lysate market during 2014-2018, and presents demand projections for 2019-2029, on the basis of product type (heparin-free platelet lysates and human platelet lysates with heparin), application (research use and clinical use), and end user (academic and research institutes, biopharmaceutical companies, and other applications), across various prominent regions (North America, Latin America, Europe, East Asia, South Asia. Oceania, and MEA).