Rockville, Aug. 21, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, climbing at a high-value CAGR of 8.9%, the Induced Pluripotent Stem Cell (iPSC) Market is predicted to reach a size of US$ 4.6 billion by the end of the study period (2023 to 2033). North America is expected to maintain its dominant stance in the global market over the next ten years and beyond.
Stem cell therapies have been gaining massive popularity all around the world owing to rising awareness regarding their benefits. The high incidence of chronic disorders has fostered the demand for advanced drug discovery and development, which is projected to act as a catalyst for induced pluripotent stem cell sales over the coming years. Induced pluripotent stem cell companies are looking to capitalize on this opportunity and make some money by adopting strategies such as mergers, acquisitions, and collaborations.
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In August 2021, Catalent, a multinational company focusing on biotech and pharmaceuticals, announced that it had acquired a human induced pluripotent stem cell developer based in Germany called RheinCell Therapeutics GmbH. The amount of this deal was not disclosed.
Key Takeaways from Market Study
- The global induced pluripotent stem cell market stands at a valuation of US$ 1.96 billion in 2023.
- Demand for induced pluripotent stem cells is projected to expand at a phenomenal CAGR of 8.9% from 2023 to 2033.
- The market is anticipated to attain a revenue value of US$ 4.6 billion by 2033.
- Increasing focus on healthcare infrastructure development, supportive government financing for medical research, and breakthroughs in stem cell technology are other prospects that will drive the sales of induced pluripotent stem cells in the future.
- High cost of stem cell research and ethical concerns regarding stem cell production are prominent market restraints.
- Sales of induced pluripotent stem cells in Canada are projected to increase rapidly at 9% CAGR over the next ten years.
- Demand for iPSCs is expected to be influentially driven by regenerative medicine applications through 2033.
“Increasing investments in regenerative medicine R&D are set to offer lucrative growth opportunities for induced pluripotent stem cell companies,” says a Fact.MR analyst
Winning Strategy
Induced pluripotent stem cell suppliers are focusing on advancing their research to develop novel therapies using iPSCs. Meanwhile, new induced pluripotent stem cell providers are focusing on raising new capital to finance their R&D and business expansion efforts.
This detailed iPSC market research analysis by Fact.MR, a market research and competitive intelligence provider sheds light on current and future market trends by demonstrating key strategies adopted by new as well as established companies.
- In April 2022, TreeFrog Therapeutics, a biotechnology firm focused on making affordable stem cell therapies, announced the launch of a grant worth US$ 100,000. The Stem Cell SpaceShot Grant will be open to PhD-level scientists and students to advance stem cell biology research and promote scientific discoveries.
Key Companies Profiled
- Sumitomo Dainippon Pharma Co. Ltd.
- Ncardia
- REPROCELL USA Inc.
- Thermo Fisher Scientific Inc.
- FUJIFILM Cellular Dynamics Inc.
- Axol Bioscience Ltd.
- ViaCyte Inc.
- Takara Bio Inc.
- Cynata Therapeutics Limited
- Pluricell Biotech
- Evotec SE
- Fate Therapeutics Inc.
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United States Emerges as Prime Market for Induced Pluripotent Stem Cell Suppliers
The United States is poised to become a highly lucrative market for induced pluripotent stem cell suppliers in the next decade due to significant research and development activities in the healthcare sector.
Stem cell therapy providers are likely to prioritize the United States for revenue generation, given the government's funding of stem cell research and the rapid expansion of stem cell therapy availability. Various types of stem cells, including embryonic stem cells, neural stem cells, and umbilical cord stem cells, are expected to experience heightened demand in the United States, thanks to the increasing number of individuals choosing stem cell therapies.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global induced pluripotent stem cell market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on cell type (vascular cells, cardiac cells, neuronal cells, liver cells, immune cells, other cell types), research method (cellular reprogramming, cell culture, cell differentiation, cell analysis, cellular engineering, other research methods), and application (drug development & toxicology testing, academic research, regenerative medicine, other applications), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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