Induced Pluripotent Stem Cells Production Market Analysis

Induced Pluripotent Stem Cells Production Market Analysis

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Based on process, the market is segmented into manual iPSC production process and automated iPSC production process. The manual iPSC production process segment is expected to lead the market, projecting revenue of USD 2.6 billion by 2032.
 

• The high segmental growth can be attributed to the inherent flexibility and precision offered by manual iPSC production, allowing researchers and scientists to tailor the process to specific requirements.
   
• Further, manual iPSC production is becoming increasingly favored for its ability to cater to diverse experimental needs, enabling the generation of high-quality induced pluripotent stem cells with enhanced control and adaptability.
   

Based on product & services, the induced pluripotent stem cells production market is classified into products and service. The product segment is further categorized into instruments/ devices, automated platforms, and consumables & kits. The consumables & kits segment dominated the market in 2023 and is anticipated to grow at a CAGR of 8.9% between 2024 – 2032.
 

• High market share can be attributed to the escalating adoption of iPSC technology across various scientific disciplines, including regenerative medicine and drug discovery, that is driving the demand of consumables & kits.
   
• Researchers and biotechnologists are increasingly relying on specialized consumables and kits to streamline the iPSC production process, to ensure high efficiency and reproducibility, thus driving the segment trends.
   

Based on application, the induced pluripotent stem cells production market is classified into drug development & discovery, regenerative medicine, toxicology studies, and other applications. The drug development & discovery segment dominated the market accounting for the largest revenue in USD 624.9 million in 2023.
 

• Rising technological advancements and the ability to generate patient-specific cells for drug testing has accelerated the pace of pharmaceutical research, leading to more targeted and efficient drug development processes.
   
• Also, increasing prevalence of several chronic diseases and cancer cases is driving the demand for effective therapies, and induced pluripotent stem cells are widely used for development of innovative treatment plans.
   
• For instance, in February 2022, EdiGene, Inc. and Neukio Biotherapeutics, a company focused on the development and commercialization of allogenic iPSC-CAR-NK cell therapies, signed a R&D collaboration to develop next-generation immune cell therapies. Such initiatives by market players is expected to increase the production capacity for treatment plans.
   

Based on end-use, the induced pluripotent stem cells production market is classified into research & academic institutes, pharmaceutical & biotechnology companies , and contract research organizations. The research & academic institutes segment dominated the market in 2023 with a market share of 49.2%.
 

• Rising interest and investments in stem cell therapy & research has spurred the establishment of numerous research and academic institutions dedicated to advancing iPSC technology. These institutes serve as hubs for cutting-edge research, fostering collaborations and driving innovation in the field, making them major end-users of induced pluripotent stem cells production technologies.
   

 In 2023, North America held a significant business share of 41.3% in the induced pluripotent stem cells production market and is anticipated to dominate the market throughout the forecast period.
 

• The region's dominance can be attributed to a robust infrastructure for biotechnology research and development, coupled with significant investments in healthcare and life sciences.
   
• Additionally, leading technological advancements, a strong regulatory framework, and strategic collaborations among key market players further contribute to North America's substantial presence in iPSC production market.