The stem cell manufacturing market is estimated to be valued at US$ 12,415.84 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 cells offer potential treatment for various diseases due to their ability to differentiate themselves into specialized cell types. The manufacturing of stem cells involves the isolation, expansion and differentiation of cells under conditions designed to achieve the desired clinical effect. The growth of the stem cell manufacturing market is driven by the increasing adoption of regenerative medicine for the treatment of various diseases and injuries.
Market key trends:
The rising focus on regenerative medicine has emerged as a major trend in the stem cell manufacturing market. Regenerative medicine uses stem cells and their derivatives to repair or replace cells, tissues or organs in order to restore normal function. It holds potential to revolutionize the treatment of previously incurable chronic diseases as well as acute diseases, injuries and congenital defects. The availability of funding for stem cell research from both private as well as public organizations is also fueling the growth of stem cell manufacturing market. Furthermore, development of advanced technologies such as automated cell expansion systems to improve efficiency and quality of cell processing is expected to drive the market during the forecast period.
Porter’s Analysis
Threat of new entrants: Entry into stem cell manufacturing industry requires high investment in R&D and production facilities. Regulatory approvals and certifications also pose as entry barriers keeping the threat of new entrants low.
Bargaining power of buyers: Buyers have relatively low bargaining power due to lack of substitutes and differentiated products offered by existing players. Standard operating procedures make it difficult for buyers to switch between manufacturers.
Bargaining power of suppliers: Key raw materials include stem cells, growth factors, reagents and equipment which are highly specialized with few supplier options giving them higher bargaining power.
Threat of new substitutes: Being an emerging industry, stem cell manufacturing does not have close substitutes currently. Advent of new technologies can introduce substitutes in future increasing threat.
Competitive rivalry: Strong competition exists among existing large players to gain market share and create differentiated offerings through continuous innovation keeping competitive rivalry high.
SWOT Analysis
Strengths: Availability of both autologous and allogenic stem cells, rising R&D investments, extensive applications in therapeutics development.
Weaknesses: High production costs, regulatory challenges, restricted availability of donor cells.
Opportunities: Rising prevalence of chronic diseases, growing geriatric population, increasing stem cell therapy trials and approvals.
Threats: Ethical issues regarding stem cell sourcing, high failure rates during clinical trials, reimbursement barriers.
Key Takeaways
The Global Stem Cell Manufacturing Market Size is expected to witness high growth, exhibiting CAGR of 13.3% over the forecast period, due to increasing prevalence of chronic diseases. North America dominated the market in 2022 due to presence of advanced healthcare facilities and major players in the region. Regional growth is fastest in Asia Pacific due to rising healthcare investments, expansion of key companies and growing medical tourism in countries like 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, Sartorius, and Cellular Dynamics (Fujifilm Holdings Corporation, among others.
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