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Adult Stem Cell Assay Market Size, Opportunities, Trends And Future Scope 2033
Adult Stem Cell Assay Market Size
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According to The Business Research Company's, The adult stem cell assay market size has grown rapidly in recent years. It will grow from $8.88 billion in 2023 to $10.28 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to rise of regenerative medicine, increasing amount of research interest, growing applications in medicine, rising prevalence of chronic diseases, and rise in approvals of clinical trials.
The adult stem cell assay market size is expected to see rapid growth in the next few years. It will grow to $18.52 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to increase in the aging population, the growing push towards personalized medicine, growing investments and infrastructure, growing demand for regenerative medicine, and rising expenditure in research-related activities. Major trends in the forecast period include the integration of artificial intelligence and automation, the adoption of organ-on-a-chip technologies, developments in tissue engineering, drug discovery and development, and clinical research.
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Market Drivers and Trends:
The growing demand for regenerative medicine is expected to propel the growth of the adult stem cell assay market going forward. Regenerative medicine encompasses biomedical approaches aimed at replacing, repairing, or restoring normal function to human cells, tissues, or organs damaged by age, disease, trauma, or congenital issues. The aging global population drives demand for regenerative medicine due to its potential to treat age-related diseases such as arthritis and cardiovascular conditions. Adult stem cell assays evaluate differentiation into specific cell types, proliferation, migration, and interactions to verify cell viability and efficacy. These tests are critical for creating safe and effective regenerative medicine, such as stem cell therapies. For instance, in July 2023, according to the report published by the American Society of Gene & Cell Therapy (ASGCT), a US-based professional membership organization, and Citeline, a US-based provider of drugs and devices, at the end of Q1 2023, there were 247 gene therapies in Phase II, but this number rose by 5% to reach 260 by the end of Q2. Therefore, the growing demand for regenerative medicine drives the adult stem cell assay market.
Major companies operating in the adult stem cell assay market are developing an advanced, ready-to-use adult stem cell organoid tubule assay model to improve the predictability of therapeutic outcomes and accelerate the development of personalized treatments. A ready-to-use adult stem cell organoid tubule assay model is a pre-assembled system utilizing organoids created from adult stem cells, designed for immediate application in research. For instance, in March 2023, MIMETAS, a Netherlands-based provider of organ-on-a-chip-based disease models, launched the OrganoReady product line. It is a fully prepared adult stem cell (ASC)-derived organoid tubule-based assay model that removes the complexity of cell culture and tissue creation, allowing for quick experimentation. It includes ASC-derived colon and kidney organoid tubules, optimized for use in mechanistic toxicology and drug-induced organ injury studies. With 64 organoids per plate, they are suitable for medium- to high-throughput screening, providing a robust platform for adult stem cell assays.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Lonza Group AG, Sartorius AG, Sigma Aldrich Chemicals Pvt. Ltd., STEMCELL Technologies Inc., Miltenyi Biotec B.V. & Co. KG, Promega Corporation, Abcam Plc, R&D Systems Inc., BioLegend Inc., Sino Biological Inc., Cell Signaling Technology, Inc., Enzo Biochem Inc., Creative Bioarray, ScienCell Research Laboratories Inc., Cell Biolabs Inc., Abnova Corporation, American Type Culture Collection, AMSBIO LLC
Adult Stem Cell Assay Market 2024 Key Insights:
• The adult stem cell assay market size is expected to see rapid growth in the next few years. It will grow to $18.52 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%.
• Rising Demand For Regenerative Medicine Fuels Growth In The Adult Stem Cell Assay Market
• Advancements In Ready-To-Use Adult Stem Cell Organoid Tubules For Enhanced Therapeutic Research
• North America was the largest region in the adult stem cell assay market in 2023
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