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Human Embryonic Stem Cells Market Size, Forecast, Growth, Trends 2024-2033
Human Embryonic Stem Cells Market Size
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According to The Business Research Company's, The human embryonic stem cells market size has grown rapidly in recent years. It will grow from $1.13 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to funding and investments, regulatory approvals, public awareness, the emergence of regenerative medicine, and expanded clinical applications.
The human embryonic stem cells market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to an upsurge in several cell therapy production facilities, increasing demand for regenerative therapies, increasing incidence of cardiac and malignant diseases, advancements in stem cell biology research, and awareness about stem cell therapeutic potency. Major trends in the forecast period include advancements in regenerative medicine, increased focus on personalized medicine, growing applications in drug discovery and toxicology, technological innovations, and expansion in biobanking.
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Market Drivers and Trends:
The government funding for the development of regenerative medicine is expected to propel the growth of the human embryonic stem cells market going forward. Regenerative medicine is a field of healthcare focused on repairing, replacing, or regenerating damaged tissues or organs to restore normal function in the body. There is increasing government funding for the development of regenerative medicine due to factors such as the rising prevalence of chronic diseases, advancements in stem cell research, and the potential for innovative treatments to improve patient outcomes. Human embryonic stem cells are utilized in regenerative medicine to develop potential therapies for repairing or replacing damaged tissues and organs in the body. For instance, in May 2022, according to the Government of Canada, a Canada-based body responsible for the federal administration, the stem cell network received $45 million in funding over three years, beginning in 2022-23, as part of the Budget 2021 allocation to bolster stem cell and regenerative medicine research. Therefore, government funding for the development of regenerative medicine is driving the growth of the human embryonic stem cells market.
Major companies operating in the human embryonic stem cell market are focused on expanding into diverse therapeutic applications such as pluripotent stem cells for Parkinson's disease treatment, and gaining a competitive edge in the market. Pluripotent stem cells for Parkinson's disease are used to generate dopaminergic neurons, aiming to replace the lost dopamine-producing neurons and restore motor function. For instance, in October 2023, Bayer AG., a Germany-based pharmaceutical and biotechnology company, opened its first Cell Therapy Manufacturing Facility in California by investing $250 million to produce cell and gene therapies globally. This facility initially focuses on BlueRock Therapeutics' bemdaneprocel derived from pluripotent stem cells (PSC) for Parkinson's disease. The facility features fully electric manufacturing to address the industry's manufacturing capacity for regenerative medicines.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Merck KgaA, Astellas Pharma Inc., Lonza Group, PerkinElmer Inc., R&D Systems, LifeCell, Takara Bio Inc., ViaCyte Inc., PromoCell GmbH, CellGenix GmbH, PeproTech Inc., Lineage Cell Therapeutics Inc., BioTime, Asterias Biotherapeutics Inc., ESI BIO, STEMCELL Technologies Inc., TATAA Biocenter, Celgene Corporation
Human Embryonic Stem Cells Market 2024 Key Insights:
• The human embryonic stem cells market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
• Government Funding In Regenerative Medicine Is Propelling Growth Of Human Embryonic Stem Cells Market
• Expansion Into Diverse Therapeutic Applications To Advance Regenerative Medicines
• North America was the largest region in the human embryonic stem cells market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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