In a recent research report published by QY Research, titled, “Global Induced Pluripotent Stem Cells Market Size, Status and Forecast 2019-2025” has analysed the global induced pluripotent stem cells market. The report is a depth research paper about the various areas of the market, namely, market size, drivers and restrains, segment analysis, regional analysis, key players, and competitive landscape.
In 2018, the global induced pluripotent stem cells market size was valued at US$71.7 mn and it is expected to reach US$160.9 mn by the end of 2025, rising at a CAGR of 12.23% during 2019-2025.
Global Induced Pluripotent Stem Cells Market: Drivers and Restraints
The global induced pluripotent stem cells market is expected to grow with its increasing usage as a regenerative medicine for damaged tissues and diseased organs. This is attributed towards an interesting property of pluripotent stem cells to form various types of adult cells such as neurons, liver, heart, and pancreatic cells. They also can make any cell or tissue combat diseases such as spinal cord injury, diabetes, heart disease, and leukaemia. These cells can be modified to match patient’s genetic makeup. Governments and private sectors are investing heavily in the development of pluripotent stem cells as they enable initial human growth. Its ability to produce customized cells, rejection-proof cells, and tissues for efficacious transplantation is expected to offer lucrative opportunities to the global market for induced pluripotent stem cells.
Increasing interest among scientists to understand and develop stem cells for various ailments is expected to contribute towards the growth of stem cells. Its various roles in clinical applications, research and awareness among people about the benefits of stem cells will boost the market growth during the forecast period.
However, the treatment and reprogramming of cells is a lengthy and costly process. Also the market has certain ethical risks associated with it. Other factors like low efficiency, proliferation rates, potential tumour risk, and incomplete programming can hamper the growth of the global induced pluripotent stem cells market.
Global Induced Pluripotent Stem Cells Market: Segment Analysis
The global induced pluripotent stem cells market is segmented on the basis of type and application. The type segment includes human iPSCs and mouse iPSCs. The application segment includes academic research, drug development and discovery, toxicity screening, regenerative medicine, and others.
Global Induced Pluripotent Stem Cells Market: Regional Analysis
The report analysis various region of the global induced pluripotent stem cells market such as United States, Europe, Asia Pacific (China, India, and Japan), Southeast Asia, Central & South America, and other regions. The market is expected to grow in regions like Asia due to increasing number of research projects. Currently, North America dominates the global market, followed by Europe.
Global Induced Pluripotent Stem Cells Market: Key Players
The key players covered in the report are Fujifilm Holding Corporation (CDI), Ncardia, Sumitomo Dainippon Pharma, Astellas Pharma Inc., Fate Therapeutics, Inc., Pluricell Biotech, Cell Inspire Biotechnology, and ReproCELL.
Global Induced Pluripotent Stem Cells Market: Competitive Landscape
Fujifilm Holding Corporation (CDI) is a leading company. They recently announced a collaboration with Axcelead Drug Discovery Partners, Inc. to provide integrated platform for drug discovery solutions. Both the companies will together work towards developing new drug efficacy evaluation methods. They will also develop toxicity testing to meet specific client needs. They will also work towards R&D of iPSC to study ability to differentiate into diverse cells and its infinite reproduction capabilities. As the demand for iPSC is expected to grow further they are planning a standardizing safety tests using differentiated cells.
The increasing competition amongst manufactures is fuelling the need for developmental strategies such as product development, innovative technologies, and joint ventures to boost share in the market. This strategy of Fujifilm Holding Corporation (CDI) is expected to push the company towards significant development in the medical field and set high benchmark for other manufacturers.