Stem Cell Manufacturing Market worth $18.0 billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, May 18, 2021 /PRNewswire/ -- According to the new market research report "Stem Cell Manufacturing Market by Product (Consumables, Instrument, HSCs, MSCs, iPSCs, ESCs), Application (Research, Clinical {Autologous, Allogenic}, Cell & Tissue Banking), End User (Pharma & Biotech, Hospitals, Tissue Bank) - Global Forecast to 2026", published by MarketsandMarkets, the global market is projected to reach USD 18.0 billion by 2026 from USD 11.5 billion in 2021, at a CAGR of 9.4% during the forecast period.

Browse in-depth TOC on "Stem Cell Manufacturing Market"  
304 – Tables
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296 – Pages

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The Growing venture capital funding in stem cell-based research, rising awareness about the therapeutic potency of stem cell products, and supportive regulatory framework across developing countries are the key factors supporting the growth of the market. However, significant operational costs associated with stem cell manufacturing and banking are expected to hinder the overall growth rate.

Consumables accounted for the largest share of stem cell manufacturing market

The Stem cell manufacturing market by product is categorized into Consumables, Instruments, Stem Cell Lines. The consumables segment dominated the market in 2020. The large share of this segment can be attributed to frequent purchase of consumables, rising stem cell research and increasing demand for stem cell therapies. Stem cell lines segment is expected to register the highest CAGR during the forecast period due to growing demand for functionally potent stem cell lines in research, and the development of innovative stem cell culture & preservation techniques.

Research applications accounted for the largest share of stem cell manufacturing market

On the basis of application, the market is categorized into research applications, clinical application and cell & tissue banking applications. The research applications segment is further categorized into life science research and drug discovery & development. The research application segment dominated the market in 2020. The growth of this segment is attributed to the rising focus on stem cell cytology & pathophysiology research, and growing public-private funding to support stem cell product development and commercialization.