by Human platelet lysate (HPL) is derived from platelets obtained through blood donations and has numerous benefits over fetal bovine serum (FBS) including low immunogenicity, balanced growth factor composition, increased reliability and bacterial safety. It is primarily used as a growth supplement for the culture expansion of mesenchymal stem/stromal cells (MSCs) in regenerative medicine, cell therapy and translational research. HPL supports growth of MSCs better than fetal bovine serum without inducing any differentiation, allowing large-scale production of clinical-grade MSCs for various regenerative therapies. The global human platelet lysate market plays a vital role in the development of advanced cell-based therapies and regenerative medicines which help in the treatment of challenging medical conditions.
The global Human Platelet Lysate Market is estimated to be valued at US$ 53.0 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
HPL has shown efficacy as a wound healing agent comparable to platelet-rich plasma and accelerates healing in chronic wounds. It releases growth factors from platelet alpha granules needed for the regeneration of skin appendages and enhances wound re-epithelialization. Moreover, HPL promotes attachment, proliferation and migration of keratinocytes and fibroblasts involved in re-epithelialization and granulation tissue formation. Several HPL based approved wound dressings are available commercially and pipeline candidates are under clinical trials indicating immense potential in this application. With rise in chronic wounds owing to lifestyle diseases, HPL sees higher adoption in wound management.
Porter’s Analysis
Threat of new entrants: New companies can enter the human platelet lysate market by obtaining licenses and approvals from regulatory authorities which is a time consuming process. This reduces the threat of new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as hPL is an important substitutes for FBS and research labs have no alternatives.
Bargaining power of suppliers: Key raw material suppliers have significant bargaining power due to specialized production process of hPL which increases the supplier power.
Threat of new substitutes: There is a low threat of new substitutes as hPL has been proven to be a better alternative for animal serum products in cell and gene therapy.
Competitive rivalry: The rivalry in the global market is high as the key players are focusing on new product launches and acquisitions to gain higher market share.
Key Takeaways
The Global Human Platelet Lysate Market Demand is expected to witness high growth over the forecast period.
Regional analysis: North America region presently dominates the global human platelet lysate market and is expected to continue its dominance during the forecast period. Increasing R&D investments and growing biotechnology industry are some key factors driving the North America market. Asia Pacific is projected to be the fastest growing market owing to rising biologics production and growing research activities in countries like China and India.
Key players: The key players operating in the human platelet lysate market are STEMCELL Technologies Inc., Merck KGaA, Mill Creek Life Sciences, Merck & Co., Inc, AventaCell BioMedical, Compass Biomedical, Inc. These players are focusing on new product launches and acquisitions to strengthen their market position. For instance, in 2022, STEMCELL Technologies Inc. launched xeno-free human platelet lysate applications for stem cell and cell therapy research.
The global human platelet lysate market is expected to witness high growth over the forecast period. Regional analysis related content comprises Regional analysis related content (Write regional analysis in 200 words explanation fastest growing and dominating region.) Key players related content comprises Key players related content (Key players related content (Write very shorts about key players mention the given key players only (format for key players analysis: Key players operating in the (incorporate given market name) are incorporate given list of key players.)). Do not write conclusion anywhere in the output I repeat do not write conclusion. given market name and other data: Market Name- Human Platelet Lysate Market; CAGR: 4.5%; Forecast period is: 2023 to 2030; Market Size for 2023 is US$ 53.0 Mn; Key players: STEMCELL Technologies Inc., Merck KGaA, Mill Creek Life Sciences, Merck & Co., Inc, AventaCell BioMedical, Compass Biomedical, Inc, Macopharma SA, Trinova Biochem GmbH, PL BioScience GmbH, Cook Regentec, Life Science Group Ltd., BBI Solutions, Regenexx, Thermo Fisher Scientific.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
