Stem Cell Manufacturing Market worth $21.8 Billion | Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Lonza Group (Switzerland)

Stem Cell Manufacturing Market in terms of revenue was estimated to be worth $12.7 Billion in 2023 and is poised to reach $21.8 Billion by 2028, growing at a CAGR of 11.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. Some of the prominent factors driving the growth of this market are increasing funding of stem cell research and increasing demand for stem cell-based therapies are boosting the growth of the market. However, ethical concerns and high costs of research and manufacturing can hamper the market growth.

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Consumables products accounted for the largest share of the stem cell manufacturing market.

Among the products, the stem cell manufacturing market is segmented into instruments, consumables, and stem cell lines. In 2023, the consumables products segment accounted for the largest share of the stem cell manufacturing market. Growth in this market segment can be attributed to increasing research of stem cell-based therapies, and increasing purchase and demand of consumables are expected to form the fastest growth segment in the stem cell manufacturing market.

The cell & tissue banking applications segment is the fastest-growing segment of the stem cell manufacturing market.

In 2023, the cell & tissue banking applications segment accounted for the fastest-growing share of the application segment of the stem cell manufacturing market. Market growth can largely be attributed to the potential development of advanced storage methodologies. The market is also driven by increasing public demand for cord blood stem cell banking and rising awareness regarding the advantages of stem cell preservation.

Asia Pacific: The fastest-growing region in the stem cell manufacturing market.

The Asia Pacific stem cell manufacturing market is projected to grow at the highest CAGR during the forecast period, mainly due to increasing awareness of stem cell transplants and a large number of pipeline products. The Asian market has also garnered significant attention from global players due to the increased focus on personalized medicine, driving the demand for stem cell-based therapies.

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Stem Cell Manufacturing Market Dynamics:

Drivers:

Growing venture capital investment in stem cell research

Restraints:

Significant operational costs associated with stem cell manufacturing and banking

Opportunities:

Government initiatives to boost the biotechnology and biopharmaceutical industries

Challenges:

Technical limitations associated with manufacturing scale-up

Key Market Players:

The market for stem cell manufacturing is highly fragmented, with key players strategizing to capture a majority of the market. Prominent players in the market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Lonza Group (Switzerland), Danaher Corporation (US), Sartorius AG (Germany), Becton, Dickinson, and Company (US), Eppendorf AG (Germany), Corning Inc. (US), Bio-Rad Laboratories (US), Takara Bio Group (Japan), Fujifilm Holdings Corporation (Japan), Getinge AB (Sweden), Terumo Corporation (Japan), Bio-Techne Corporation (US), HiMedia Laboratories (India), StemCell Technologies, Inc. (Canada), Miltenyi Biotec GmBH (Germany), PromoCell (Germany), Anterogen Co. Ltd. (South Korea), CellGenix GmBH (India), Pluristem Therapeutics Inc. (Israel), Daiichi Sankyo (Japan), Organogenesis Holdings Inc. (US), Vericel Corporation (US), and American Cryostem Corporation (US).

Recent Developments:

In April 2023, U.S. Food and Drug Administration approved Omisirge (omidubicel), a substantially modified allogeneic (donor) cord blood-based cell therapy to quicken the recovery of neutrophils (a subset of white blood cells) in the body and reduce the risk of infection. Developments like this are increasing the demand for stem cell therapies and culture media.

In October 2022, Froilabo (France) announced the launch of a new range of fully automated lab-scale bioreactors. The bioreactor offers a great range of application possibilities suited to academia, research, process development and optimization, scale-up, and production.

In January 2023, the life science group Sartorius extended a strategic collaboration partnership agreement with RoosterBio Inc. (RoosterBio) to address purification challenges and establish scalable downstream manufacturing processes for exosome-based therapies.

In November 2021, GenScript announced today that it had launched the GenWand Double-Stranded DNA (dsDNA) Service for the manufacture of STEM CELL MANUFACTURING knock-in homology-directed repair (HDR) templates in T cell engineering.

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