STEM CELL MANUFACTURING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Stem Cell Manufacturing Market Analysis:

The stem cell manufacturing market is anticipated to exhibit a compound annual growth rate (CAGR) of approximately 12.9% during the forecast period. The COVID-19 pandemic had a significant impact on the stem cell manufacturing market, particularly as stem cell-based therapies were suggested as a potential treatment for COVID-19. Numerous companies and universities are engaged in research studies related to stem cells. For example, a January 2022 article published in the BMC journal highlighted the increased emphasis on stem cell therapy and stem cell-derived organoid models as a new treatment and research method for COVID-19. To gain a better understanding of the process of SARS-CoV-2 cardiomyocyte-specific infection, several researchers utilized human induced pluripotent stem cell-derived cardiomyocytes (hiPSC CMS) as a model. In the current scenario, stem cell manufacturing has garnered greater attention due to its wide-ranging applications, such as pluripotent stem cells being used to treat diseases and forming the basis for future regenerative medicine using stem cells. The market for stem cell manufacturing is expected to expand in the coming years due to the surge in technological advancements in stem cell synthesis and preservation.

The major factors contributing to the market’s growth include technological advancements in stem cell manufacturing and preservation, as well as growing public awareness of the therapeutic potential of stem cell products. For example, a September 2022 article published in PubMed demonstrated that stem cell therapy involving in vitro and in vivo studies is safe and effective in treating various diseases. Stem cell treatment seeks to restore or repair damaged organs and congenital malformations using human stem cells such as embryonic stem cells (ESCs), adult stem cells (ASCs), and induced pluripotent stem cells (iPSCs).

Furthermore, product launches, company expansion, and research center launches are expected to drive market growth during the forecast period. For instance, in September 2021, STEMCELL Technologies launched human pluripotent stem cell (hPSC) characterization and banking services in partnership with WiCell, making it easier for pluripotent stem cell researchers to achieve critical yet often overlooked steps. Additionally, in October 2022, COST Association celebrated Stem Cell Awareness Day, highlighting a network of researchers working to foster a greater understanding of stem cell research and potential applications for millions of people suffering from incurable diseases and injuries.

In conclusion, the growth of the stem cell manufacturing market during the forecast period is driven by the rise in research studies of stem cell therapy, the increase in product launches, and the surge in awareness regarding the importance of stem cell therapy. However, the popularity of alternative procedures remains a major drawback for the market.

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