The global stem cell manufacturing market is predicted to expand significantly at 6.6% CAGR during the forecast period (2018-2023). The process of stem cell manufacturing is used to extract cells from the peripheral blood cells or the bone marrow. The cells that are extracted are cultured in a dish having nutrient media. The stem cells are isolated from menstrual blood, adipose tissue, amniotic sac and fluid, placenta or umbilical cord blood.
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There are numerous factors that is driving thestem cell manufacturing market. Some of the market factors and trends in this market as per a study conducted by Market Research Future (MRFR) include growing funding and public-private investments in the stem cell-based research, increasing awareness about stem cell products’ therapeutic potency, creation of advanced genomic analysis methods for quality control at the time of stem cell manufacturing, advancements in technology in manufacturing and preservation of stem cells and evolving regulatory frameworks concerning stem cell therapeutics. On the contrary, high expenditure of manufacturing and research processes and stringent regulations laid down by some regions on the manufacturing of stem cells may hamper the Stem Cell Manufacturing Marketgrowth.
STEMCELL Technologies Inc, MiltenyiBiotec, Takara Bio Inc., American CryoStem Corporation, FUJIFILM Cellular Dynamics, Inc. (FCDI), Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd.,GlaxoSmithKline plc., Bristol-Myers Squibb Company, Lonza, AbbVie Inc., Bio-Rad Laboratories, Inc., Merck KGaA, BD, and Thermo Fisher Scientific.
Market Research Future report offers an all-inclusive segmental analysis of the stem cell manufacturing market on the basis of product, application and end user.
Based on product, it is segmented into consumables, culture media, instruments and stem cell lines. The stem cell lines are again segmented into embryonic stem cell (ESC), induced pluripotent stem cell (iPSC), mesenchymal stem cells (MSCs), hematopoietic stem cells (HSCs) and others. Of these, culture media will rule the stem cell manufacturing market owing to increasing need for stem cell therapies coupled with increasing stem cell research.
Based on application, the stem cell manufacturing market is segmented into cell and tissue banking, therapy, target identification and research. Therapy is again segmented into allogeneic and autologous. Of these, the cell and tissue banking is likely to grab the largest share in the market due to rising need for cord blood stem cell banking coupled with increasing awareness about stem cell preservation. The research segment is anticipated in being the fastest growing due to rising emphasis on the stem cell research.
Based on end user, it is segmented into stem cell banks, pharmaceutical and biotechnology companies, hospitals and others. Of these, the pharmaceutical and biotech companies’ segment is expected to have the maximum share in the stem cell manufacturing market.
Based on region, the stem cell manufacturing market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America is likely to have precedence in the market due to increasing stem cell research here, rising awareness regarding stem cells’ therapeutic potency, rising investments in healthcare research and development and increasing public-private funding. Europe grabs the second largest position owing to the intensive stem cell research here. The market in the APAC region comprises of countries namely Australia, India, Republic of Korea, Japan, China and the Rest of APAC. In the APAC region the stem cell manufacturing market is anticipated in being the fastest growing due to the developing biotechnology industry coupled with increasing awareness of stem cells’ therapeutic uses. On the other hand, the stem cell manufacturing market in the Middle East and Africa will have a minimal market share but its growth is anticipated to be driven through a developing healthcare infrastructure.