Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) — The “Induced Pluripotent Stem Cells Market Size, Share & Trends Analysis Report By Derived Cell Type (Hepatocytes, Fibroblasts), By Application (Drug Development, Toxicology Research), End-user, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global induced pluripotent stem cells market size is expected to reach USD 3.09 billion by 2030 and is expected to expand at a CAGR of 10.61% from 2023 to 2030. The market for induced pluripotent stem cells (iPSC) is expanding quickly. The ability of induced pluripotent stem cells to generate any cell or tissue essential by the body to fight or combat illnesses such as leukemia, spinal cord injury, cardiovascular disease, and diabetes is the primary reason for their utilization.
Other factors driving market expansion include higher research funding, an increase in the number of genomics initiatives, and a surge in the application of genome engineering in personalized drugs. This has accelerated the adoption of iPSC, resulting in the market’s profitable revenue growth. For instance, in October 2020, Axxam S.p. A. & FUJIFILM Cellular Dynamics, Inc. announced a strategic partnership to advance the drug discovery process. Through the use of the most cutting-edge drug discovery techniques to enable target evaluation, High-Throughput Screening (HTS), & High-Content Screening, the partnership will give drug development researchers along with scientists access to an integrative platform of hiPSC-based assays.
Investments in healthcare development and research have expanded significantly in recent years, and this trend is projected to have a significant impact on induced pluripotent stem cell demand over the forecast period. The expanding spectrum of human iPSC cell lines’ applications in precision medicine and the growing emphasis on stem cell therapeutic applications are predicted to be important factors driving induced pluripotent stem cell market expansion. For instance, in March 2021, Sana Biotechnology, Inc. received authorization to use FUJIFILM Cellular Dynamics’ iPSC platform for the creation of commercially available cell therapies, according to a joint statement from both companies. Cell therapies can improve, fix, or substitute human biology, including cells, tissues, and organs.
The rise in research activity during the COVID-19 pandemic also enhanced iPSC-based research. In addition, scientists’ ongoing efforts to discover novel therapies and treatments to manage the SARS CoV-2 infection have increased the need for iPSCs as research tools. Furthermore, induced pluripotent stem cells can create organoids or organ models that are physiologically equivalent, thus they can be utilized to study the pathophysiology of viral infection in humans. Thus, propelling the industry growth.
Furthermore, the government and commercial sectors are expanding funding along with growing industry that focuses on various scientific activities linked to iPSCs, and people are becoming more aware of stem cells through various organizations. However, challenges such as the high cost of cell reprograming, ethical concerns, and lengthy processes are inhibiting the growth of the induced pluripotent stem cell industry to a certain extend Moreover, low efficiency, potential tumor risk, and insufficient programming are other concerns restricting the expansion of the iPSC market.
Induced Pluripotent Stem Cells Market Report highlights
- By derived cell type, the fibroblasts segment accounted for the largest share of 30.48% in 2022. The growing preference among healthcare professionals for fibroblast as potential treatments for skin problems are propelling the segment growth.
- By application, the drug developmentsegment accounted for the largest share of 49.09% in 2022. The prevalence of chronic diseases, sedentary lifestyle, and others increase the demand for personalized therapies, and the increasing interest of pharma & biotech companies to develop drugs with the help of iPS cells promotes the industry growth.
- By end-user, the pharmaceutical & biotechnology companies segment accounted for the largest share of 59.77% in 2022. This segment is projected to dominate the market since they make and develop various stem cell products & technology for various diseases employing induced pluripotent stem cells.
- North America held the larger share of 42.36% in 2022. This is mostly due to increased use of innovative systems and technologies in drug research, toxicity testing, and disease modeling, as well as the region’s growing acceptance of stem cell therapies are the major reasons for driving the market.
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|2022 – 2030
|Estimated Market Value (USD) in 2022
|Forecasted Market Value (USD) by 2030
|Compound Annual Growth Rate
- STEMCELL Technologies Inc.
- Cellular Engineering Technologies Inc.
- REPROCELL Inc.
- Takara Bio, Inc.
- Axol Bioscience Ltd.
- Fate Therapeutics, Inc.
- FUJIFILM Corporation (FUJIFILM Cellular Dynamics, Inc.)
- Cynata Therapeutics Limited
- Evotec SE
- Astellas Pharma Inc.
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- Global Induced Pluripotent Stem Cells Market