by The global induced pluripotent stem cells market involves reprogramming of adult stem cells into pluripotent stem cells that behave similarly to embryonic stem cells. Induced pluripotent stem cells offer various advantages over embryonic stem cells such as ethical collection, reduced risk of immune rejection, and ability to generate patient-specific stem cells for drug testing and disease modeling. The rising applications of induced pluripotent stem cells in drug discovery and testing is driving the demand for induced pluripotent stem cells.
The Global induced pluripotent stem cells market is estimated to be valued at US$ 1,595.4 MN in 2024 and is expected to exhibit a CAGR of 1.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Induced Pluripotent Stem Cells Market Growth are Takara Bio Inc., Thermo Fisher Scientific, Fujifilm Holdings Corporation, Astellas Pharma, Fate Therapeutics, Ncardia, ViaCyte, Cellular Dynamics International, Lonza, Blueprint Medicines and Other Prominent Players. Takara Bio Inc. and Thermo Fisher Scientific are the dominant players in the global market owing to their extensive product portfolio and global distribution network.
The key opportunities in the global induced pluripotent stem cells market include increasing research funding for stem cell therapeutics, growing stem cell banking facilities, and rising government initiatives for development of regenerative medicines. Moreover, increasing collaborations between academic research organizations and pharmaceutical companies for drug development is further fueling the market opportunities.
Induced pluripotent stem cell therapeutics is witnessing high demand in Asia Pacific regions owing to supportive government regulations, rising healthcare spending, and increasing stem cell banking facilities in countries like China, Japan and India. The global expansion of key market players through acquisitions and partnerships with regional players is also supporting the market growth.
Market drivers
The rising applications of induced pluripotent stem cells in drug discovery and testing is a major driver for the global market. Induced pluripotent stem cells based disease models enable more predictive drug screening and toxicity testing at reduced costs. Additionally, induced pluripotent stem cells provide a renewable source of cells for development of customized cell therapy and regenerative medicines thereby driving the market growth.
PEST Analysis
Political: Government policies and regulations impact the research activities involving human stem cells. Regulations need to support the development of novel therapies while ensuring ethical standards.
Economic: Funding is required for further research to develop innovative applications. Cost of therapy development and clinical trials also impacts the commercialization of induced pluripotent stem cell therapies.
Social: User acceptance and awareness plays a key role regarding therapies involving human stem cells. As new applications emerge, benefits need to be demonstrated and concerns addressed.
Technological: Advancements are being made in techniques for reprogramming adult cells to induced pluripotent stem cells efficiently and safety. Improved methods of differentiation are needed to produce specialized cell types at scale for applications in regenerative medicine. Continued progress in genome editing also supports stem cell research.
Geographical Concentration
North America is a major market for induced pluripotent stem cells in terms of value, supported by advanced research infrastructure and funding. Presence of key industry players and academic centers conducting stem cell research contributes to the large market size.
Fastest Growing Region
Asia Pacific region is projected to grow at a high pace due to increasing government investments to establish stem cell banks and support innovative research. Rising healthcare expenditure also enables clinical translation and commercialization of novel stem cell therapies in countries such as China, Japan and South Korea driving market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
