Stem Cell Manufacturing Market worth $21.8 billion by 2028
The report "Stem Cell Manufacturing Market by Product (Consumables, Instruments, Stem Cell Lines) Application (Research, Clinical, Cell Tissue & Banking), End User, Region( North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028", is projected to reach USD 21.8 billion by 2028 from USD 12.7 billion in 2023, at a CAGR of 11.3% during the forecast period. Some of the prominent factors driving the growth of this market are increasing funding of stem cell research and increasing demand for stem cell-based therapies are boosting the growth of the market. However, ethical concerns and high costs of research and manufacturing can hamper the market growth.
Browse 286 market data Tables and 42 Figures spread through 312 Pages and in-depth TOC on "Stem Cell Manufacturing Market by Product (Consumables, Instruments, Stem Cell Lines) Application (Research, Clinical, Cell Tissue & Banking), End User, Region( North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028"
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Consumables products accounted for the largest share of the stem cell manufacturing market.
Among the products, the stem cell manufacturing market is segmented into instruments, consumables, and stem cell lines. In 2023, the consumables products segment accounted for the largest share of the stem cell manufacturing market. Growth in this market segment can be attributed to increasing research of stem cell-based therapies, and increasing purchase and demand of consumables are expected to form the fastest growth segment in the stem cell manufacturing market.
The cell & tissue banking applications segment is the fastest-growing segment of the stem cell manufacturing market.
In 2023, the cell & tissue banking applications segment accounted for the fastest-growing share of the application segment of the stem cell manufacturing market. Market growth can largely be attributed to the potential development of advanced storage methodologies. The market is also driven by increasing public demand for cord blood stem cell banking and rising awareness regarding the advantages of stem cell preservation.
Asia Pacific: The fastest-growing region in the stem cell manufacturing market.
The Asia Pacific stem cell manufacturing market is projected to grow at the highest CAGR during the forecast period, mainly due to increasing awareness of stem cell transplants and a large number of pipeline products. The Asian market has also garnered significant attention from global players due to the increased focus on personalized medicine, driving the demand for stem cell-based therapies.
The market for stem cell manufacturing is highly fragmented, with key players strategizing to capture a majority of the market. Prominent players in the market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Lonza Group (Switzerland), Danaher Corporation (US), Sartorius AG (Germany), Becton, Dickinson, and Company (US), Eppendorf AG (Germany), Corning Inc. (US), Bio-Rad Laboratories (US), Takara Bio Group (Japan), Fujifilm Holdings Corporation (Japan), Getinge AB (Sweden), Terumo Corporation (Japan), Bio-Techne Corporation (US), HiMedia Laboratories (India), StemCell Technologies, Inc. (Canada), Miltenyi Biotec GmBH (Germany), PromoCell (Germany), Anterogen Co. Ltd. (South Korea), CellGenix GmBH (India), Pluristem Therapeutics Inc. (Israel), Daiichi Sankyo (Japan), Organogenesis Holdings Inc. (US), Vericel Corporation (US), and American Cryostem Corporation (US).
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