Rise In Research And Development Projects In Various Regions Such As East Asia, South Asia Are Expected To Offer An Opportunity Of US $ 0.5 Bn In 2022-2026 Period.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global induced pluripotent stem cell (iPSC) market was valued at US $ 1.8 Bn in 2022, and is expected to witness a value of US $ 2.3 Bn by the end of 2026.
Moreover, historically, demand for induced pluripotent stem cells had witnessed a CAGR of 6.6%.
Rise in spending on research and development activities in various sectors such as healthcare industry is expected to drive the adoption of human Ips cell lines in various applications such as personalized medicine and precision.
Moreover, increasing scope of application of human iPSC cell lines in precision medicine and emphasis on therapeutic applications of stem cells are expected to be driving factors of iPSC market during the forecast period.
Surge in government spending and high awareness about stem cell research across various organizations are predicted to impact demand for induced pluripotent stem cells. Rising prevalence of chronic diseases and high adoption of stem cells in their treatment is expected to boost the market growth potential.
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Besides this, various cells such as neural stem cells, embryonic stem cells umbilical cord stem cells, etc. are anticipated to witness high demand in the U.S. due to surge in popularity of stem cell therapies.
Key Takeaways:
- The North America market is projected to exhibit profitable opportunities for key suppliers due to high research and development activity in this region. For instance, Canada market is expected to witness a CAGR of 6.8% from 2022-2026.
- The U.S. has emerged as a highly rewarding market for induced pluripotent stem cell suppliers owing to high research and development activities various sectors such as healthcare. In the meanwhile, China market is expected to witness an impressive CAGR of 8.5% during the forecast period.
- Besides this, Japan is expected to witness a growth of 5.5% over the years to come.
Growth Drivers:
- High investments from various governments across the globe and the presence of developed healthcare infrastructure are expected to fuel the growth of the market. Moreover, increasing research and development projects in various regions such as South Asia, East Asia are expected to boost the demand through the forecast period (2022-2026)
- High instances of cardiovascular diseases have risen substantially over the past few years and are expected to follow a similar trend over the forecast period. Moreover, increasing incidences of neurological disorders and the demand for novel treatments is expected to boost the demand of the products.
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Key Restraints:
- High costs associated with stem cell research and the longer time taken to develop and deploy induced pluripotent stem cells are expected to act as a restraint to the growth of the market.
- Moreover, ethical concerns related to stem cell research are also expected to act as a barrier to the growth of the induced pluripotent stem cell market.
Competitive Landscape:
Many key players in the market are increasing their investments in R&D to provide offerings in stem cell therapies, which are gaining traction for the treatment of various chronic diseases.
For instance:
- In April 2022, TreeFrog Therapeutics, a biotechnology firm had put emphasis on making affordable stem cell therapies. The company also announced the launch of a grant worth US$ 100,000. This grant will be open to PhD-level scientists and students to advance stem cell biology research and promote scientific discoveries.
More Valuable Insights on Induced Pluripotent Stem Cell Market
- By Cell Type:
- Vascular Cells
- Cardiac Cells
- Neuronal Cells
- Liver Cells
- Immune Cells
- Other Cell Types
- By Research Method:
- Cellular Reprogramming
- Cell Culture
- Cell Differentiation
- Cell Analysis
- Cellular Engineering
- Other Research Methods
- By Application:
- iPSC for Drug Development & Toxicology Testing
- iPSC for Academic Research
- iPSC for Regenerative Medicine
- Other Applications
- iPSC Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Rise In Number Of CROS In Various Regions Such As Europe Is Expected To Fuel The Growth Of Induced Pluripotent Stem Cell Market At An Impressive CAGR Of 6.6% - BioSpace
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