May 18, 2024
Global Induced Pluripotent Stem Cells Market

Global Induced Pluripotent Stem Cells Market is Estimated to Witness High Growth Owing to Increasing Research and Development

The Global Induced Pluripotent Stem Cells Market is engaged in regenerative medicine, drug discovery, and toxicity testing. Pluripotent stem cells can differentiate into all the cells of the body and are useful for studying diseases and finding new treatments. Main advantages include that induced pluripotent stem cells are collected from adult tissues, so there is no embryo destruction. There is no risk of transplant rejection as they are genetically identical to the donors.

 The Global Induced Pluripotent Stem Cells Market is estimated to be valued at US$1,595.4 million 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 Size 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. Secondly, key opportunities in the market include opportunities for developing novel therapies, expanding applications in drug discovery, and increased R&D investment. Thirdly, in terms of global expansion, Asia Pacific region is expected to witness highest growth owing to increasing government funding for stem cell research as well as rich stem cell banking facilities.

Market drivers

The Global Induced Pluripotent Stem Cells market is driven by increasing research and development activities. Stem cell therapies hold promise for a variety of diseases like neurological disorders, cardiovascular diseases, diabetes, and injuries. The developing iPSC therapies include cell replacement therapies, cardiogenic differentiation, neural differentiation, hematopoietic differentiation and others. It is one of the approaches tried for developing patient and disease-specific stem cell lines. This driver is facilitating the growth of the Global Induced Pluripotent Stem Cells market.

PEST Analysis

Political: The global induced pluripotent stem cells market is significantly driven by the increasing investments in stem cell research by various governments and regulatory support for the development of stem cell-based therapies. However, stringent regulations for the clinical applications of iPSCs might hamper the market growth.

Economic: Advent of cheaper techniques for generating iPSCs along with rising healthcare expenditure is accelerating the growth of global induced pluripotent stem cells market. Although high costs associated with stem cell research limits the market scope.

Social: Increasing awareness about applications of stem cell therapy along with rising geriatric population boosting the demand for regenerative medicines fuels the growth of the market.

Technological: Rapid advancements in stem cell techniques for generating disease-specific iPSCs and their applications in drug discovery are propelling the market expansion. Development of xeno-free culture conditions further provides opportunities.

Geographical regions where market in terms of value is concentrated:

North America holds a significant share in the induced pluripotent stem cells market owing to developed healthcare infrastructure, and increasing funding for stem cell research. Favorable reimbursement policies and growing geriatric population are some major factors augmenting the regional market.

The fastest growing region for the global induced pluripotent stem cells market:

Asia Pacific region is estimated to be the fastest growing market due to improved healthcare facilities, rising medical tourism, increasing healthcare expenditure, and surging stem cell research activities in various countries like China, India, and South Korea. Favorable government support and initiatives to promote stem cell therapy contribute to regional market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it