Stem Cell Manufacturing Market, By Type (Product and Services), By Application (Stem Cell Therapy, Drug Discovery and Development, and Stem Cell Banking), By End-User (Pharmaceutical and Biotechnology Companies & CRO, Cell Banks and Tissue Banks, and Others), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
Stem cells can be used to develop new stem cell therapies for many untreatable diseases. Stem cell therapy, also known as regenerative medicine, uses stem cells to repair diseased, dysfunctional, or injured tissues. Stem cell therapies can be used to treat neurological, autoimmune, inflammatory, and orthopedic conditions as well as traumatic injuries. Today, doctors routinely use stem cells to treat aforementioned disorders. Stem cells hold great promise for new medical treatments.
Market Dynamics:
Rise in burden of chronic/neurological diseases, increase in focus on the development of stem cell therapies, growing public awareness about therapeutic potential of stem cell, growing awareness regarding the benefits of stem cell preservation, favorable government initiatives and support are major factors expected to aid in the growth of the global stem cell manufacturing market.
For instance, in September 2021, STEMCELL Technologies, in partnership with WiCell, launched human pluripotent stem cell characterization and banking services, making it easier for pluripotent stem cell researchers to achieve critical yet often overlooked steps. Moreover, in September 2021, LifeCell International received an investment of INR 225 crore from OrbiMed Asia Partners IV in return for a minority stake, which will enable the company to make a foray into new categories, such as fertility health and cell-based therapeutics.
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