Global Stem Cell Manufacturing Market : Industry Size, Share, Analysis, Trend & Future Planning 2023
Bharat Book Bureau Provides the Trending Market Research Report on“Global Stem Cell Manufacturing Market, Forecast to 2023” underLife Sciences category. The report provides information on industry overview, market size, latest developments, industry trends,Major Players, global presence, and their future prospects.
Stem cell manufacturing market projected to grow at aCAGR of 6.3%
The stem cell manufacturing market is projected to reachUSD 14.61 billion by 2023 from USD 10.75 billion in 2018, at a CAGR of 6.3%. The growing public-private investments and funding in stem cell-based research, rising public awareness regarding about the therapeutic potency of stem cell products, and development of advanced genomic analysis techniques for quality control during stem cell manufacturing are the major factors driving the stem cell manufacturing market. Factor such as the significant operational costs associated with stem cell manufacturing and banking is limiting the growth of the market to a certain extent.
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The stem cell line segment is expected to witness the highest growth during the forecast period
On the basis of product, the stem cell lines segment is expected to register the highest growth rate during the forecast period, due to the growing demand for functionally potent stem cell lines in research and the development of innovative stem cell culture & preservation techniques.
The research applications segment accounted for the largest share of the stem cell manufacturing in 2017
Based on application, the global stem cell manufacturing market is segmented into research applications, clinical applications, and cell and tissue banking. The research applications segment accounted for the largest share of the stem cell manufacturing in 2017. The growth in this segment is primarily attributed to the increasing focus on stem cell-based research, growing awareness about the therapeutic potency of stem cells, and public-private funding to support product development & commercialization.
The cell and tissue banks segment is poised to be the fastest growing during the forecast period
On the basis of end user, the cell and tissue banks segment is expected to register the highest growth rate during the forecast period, owing to the growing number of stem cell transplantation procedures, ongoing advancements in stem cell & tissue processing and storage methodologies, and growing applications of stem cells in disease treatment.
Asia Pacific is expected to register the highest growth rate during the forecast period
Geographically, the stem cell manufacturing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to register the highest growth rate during the forecast period owing to a supportive regulatory framework for stem cell research & manufacturing and ongoing expansion & modernization of healthcare infrastructure across emerging Asian countries.
Breakdown of supply-side primary interviews: by company type, designation, and region:
- By Company Type - Tier 1 – 48%, Tier 2 – 40% and Tier 3 – 12%
- By Designation – C-level – 26%, Director-level – 30%, Others – 44%
- By Region – North America - 34%, Europe – 26%, APAC – 23%, and RoW – 17%
The global stem cell manufacturing market is competitive, with a large number of global and local players. In 2016, the market was dominated by Thermo Fisher Scientific (US), Merck Group (Germany), and Becton, Dickinson and Company (US). New product launches, upgrades, approvals, agreements, partnerships, and collaborations were the major strategies adopted by market players to achieve growth in the market.
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