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Stem Cell Manufacturing Market Size, Trends Analysis And Forecast Report 2033
Stem Cell Manufacturing Market Size
According to The Business Research Company's, The stem cell manufacturing market size has grown rapidly in recent years. It will grow from $15.78 billion in 2023 to $17.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to advancements in biotechnology, research and development initiatives, clinical trials and therapeutic applications, regulatory framework establishment, investment in infrastructure.
The stem cell manufacturing market size is expected to see rapid growth in the next few years. It will grow to $26.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to increased funding and investments, growing therapeutic applications, emergence of cell-based therapies, rise in clinical trials and approvals, customized and patient-specific therapies. Major trends in the forecast period include focus on 3d bioprinting, expansion in induced pluripotent stem cells (ipscs), automation and robotics integration, standardization and scalability, bioreactor technology advancements.
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Market Drivers and Trends:
The rise in geriatric population is expected to propel the stem cell manufacturing market. The geriatric population refers to older adults who are 65 years old and beyond. The geriatric population suffers from various diseases due to low immunity and age. Aging increases the risk of chronic diseases and stem cell manufacturing will help in fighting against these diseases. For instance, according to the United Nations Department of Economic and Social Affairs' September 2020 report, a part of the United Nations Secretariat, the population aged 65 and above is projected to rise from 9.3% in 2020 to around 16.0% in 2050. Furthermore, according to October 2021 factsheet published by World Health Organization, a Switzerland-based international public health agency, there will be 1.4 billion individuals over the age of 60 in the world by 2030, up from 1 billion in 2020. Thus, the rising geriatric population is driving the growth of the stem cell manufacturing market.
Technological advancement is a key trend in the stem cell manufacturing market. Various stakeholders in the market are focusing on leveraging advanced technologies to sustain in the market. For instance, in September 2021, Cellino, a US-based biotech company specializing in stem cell manufacturing, combined AI, machine learning, hardware, software, and lasers to increase yields while lowering expenses related to the production of human cells. The method can eliminate human annotation and the unpredictability by using machine learning and AI.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc.; Merck Millipore; Stemcell Technologies; Fujifilm Holdings Corporation; Takara Bio Group; Lonza Group AG; Sartorius AG; Bio-Rad Laboratories; Becton Dickinson and Company; Bio-Techne Corporation; Miltenyi Biotec; Terumo BCT Inc.; Corning Inc.; Eppendorf AG; ViaCyte Inc.; Merck KGaA; Danaher Corporation; Vericel Corporation; American Cryostem Corporation; Cellgenix GMBH; Aspen Neuroscience Inc.; Magenta Therapeutics Inc; Pluristem Therapeutics Inc.; Takeda Pharmaceutical Company Limited; Daiichi Sankyo Chemical Pharma Co. Ltd.; AbbVie Inc.; 3D Biomatrix Inc.; Worthington Biochemical Corporation; Bico Group; Vericel Corporation
Stem Cell Manufacturing Market 2024 Key Insights:
• The stem cell manufacturing market will grow to $26.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• Geriatric Population Drives The Stem Cell Manufacturing Market
• Technological Advancements Transforming The Landscape Of Stem Cell Manufacturing
• North America was the largest region in the stem cell manufacturing 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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