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Induced Pluripotent Stem Cells Production Market Trends

Report ID: GMI7651
Published Date: Dec 2023
Report Format: PDF

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Induced Pluripotent Stem Cells Production Market Trends

The escalating prevalence of cancer has emerged as a prominent catalyst propelling the growth of the induced pluripotent stem cells (iPSC) production market.
As cancer continues to afflict a growing number of individuals worldwide, the demand for innovative and personalized therapeutic solutions has intensified. For instance, Global Cancer Observatory (GLOBOCAN) predicted that cancer cases in India would increase to 2.08 million, accounting for a rise of 57.5% in 2040 from 2020. This rising incidence of cancer is expected to spur the research and development efforts, thereby driving the iPSC production market.
Furthermore, induced pluripotent stem cells, with their ability to differentiate into various cell types, hold immense potential for regenerative medicine and drug discovery. Their capacity to be reprogrammed into specific tissues and organs makes iPSCs a valuable tool in treating a wide range of diseases, including degenerative disorders and injuries.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Induced pluripotent stem cells production industry size was worth USD 1.4 billion in 2023 and is anticipated to reach USD 3.4 billion by 2032 driven by the expanding field of drug discovery and development.

The consumables & kits segment held a sizable revenue share in 2022 and is expected to depict an 8.9% growth rate from 2024 to 2032 propelled by the escalating adoption of iPSC technology across various scientific disciplines, including regenerative medicine and drug discovery.

North America induced pluripotent stem cells production market accounted for 41.3% of revenue share in 2022 and is poised to exhibit notable growth through 2032 attributed to a robust infrastructure for biotechnology R&D, coupled with significant investments in healthcare and life sciences.

The leading companies engaged in the induced pluripotent stem cells production industry are Lonza, Axol Biosciences Ltd., Evotec SE, Hitachi Ltd., Merck KGaA, Thermo Fisher Scientific, Inc., Applied StemCells, Inc., Creative Biolabs, and Bio-Techne Corporation, among others.