Pune, India, May 08, 2019 (GLOBE NEWSWIRE) -- Global Stem Cell Manufacturing Market is expected to thrive at a robust CAGR of 17.5% during the assessment period 2018 to 2023. The forecast further suggests that the global market is anticipated to scale a valuation of USD 17,469.6 Mn by the close of 2023, According to Market Research Future (MRFR).
Stem cell manufacturing involves culturing of cells acquired from bone marrow or peripheral blood cells which can develop into specialized cell types. Thus, it is observing an upsurge in demand for repairing or replacing damaged cells and tissues with regenerative medicines. The accelerated adoption of regenerative medicine has unleashed growth opportunities in the market to be capitalized over the next few years.
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Stem cells have paved its way across the treatment of a range of diseases and are expected to gain more traction in the upcoming years. The market is at a nascent stage, and the developments in quality engineering have attracted several global leaders to the competitive landscape. With a large fraction of the clinical trials moving towards the final phase, the growth pattern of the stem cell manufacturing market is expected to be boosted with developments in the manufacturing process.
The ongoing trend of increasing public-private investments in stem cell-based research and development is likely to prevail across the review period. This, in turn, is prognosticated to enable the stem cell manufacturing market to grow manifolds in the years to come. To illustrate, a global innovator in cell-based medicines and liver diseases, Promethera Biosciences SA, has announced the closing of series D financing worth USD 44.4 Mn which would be used for accelerating its HepaStem clinical program in ACLF in conjunction with scaling up of its manufacturing operations. However, there is a lack of enough FDA approved stem cell treatment products which is likely to undermine market growth over the review period.
The noted players operating in the global stem cell manufacturing market are –
This MRFR report offers a comprehensive segmental assessment of the stem cell manufacturing market based on application, product, and end-user. By application, the market has been segmented into therapy, research and cell, and tissue banking.
On the basis of product, the global stem cell manufacturing market has been segmented into stem cell lines, instruments, consumables and culture media.
The market, by end-user, has been segmented into pharmaceutical/biotechnology companies & CRO and hospitals & stem cell banks.
Rising incidences of cancer expected to drive market growth in the Americas
The regional analysis of the global Stem Cell Manufacturing Market spans across four regions - Americas, Europe, Asia Pacific, and the Middle East and Africa (MEA). Americas houses developed biotechnology and pharmaceutical industries which are expected to catalyze the expansion of the stem cell manufacturing market in the region. Also, the increasing burden of cancer is poised to fuel demand for developments in stem cell therapies, thus, augmenting the market. The forecast further projects that Asia Pacific is presumed to strike a relatively higher CAGR and exhibit a steeper growth curve over the projection period.
Browse the market data and information spread across 116 pages with 33 data tables and 57 figures of the report “Stem Cell Manufacturing Market- Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/stem-cell-manufacturing-market-6942
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