Stem cells act as a building of the human body that can develop into many different cell types such as blood and tissue cell. Stem cells have the potential to recreate and protect the body from within. In cases where a disease affects cell tissue, stem cell therapies can repair damaged tissue, repair organs & treat diseases. Stem cells assays kits provide a resource to analyze the biological activities of these cells in a mannerable environment. Stem cells are deeply involved in the degenerative processes and disease progression through modulation of angiogenesis, cell migration, and cell invasion.
The global stem cell assays market is likely to grow at a significant CAGR over the forecasting period from 2020-2027. The essential factors are the growing spending in stem cell research and increasing R&D investments. Additionally, the increasing adaptation of stem cell assays for drug testing and screening will spur the global stem cell assay industry in the future periods. Furthermore, the growing public-private funding for stem cell therapy and the development of technology to apply hESC therapy is expected to witness remarkable growth of stem cell assays. The increasing demand for potential stem cell therapy and regenerative medicines used to heal tissues & organs and restore functions lost due to aging, disease, damage, or defects are expected to propel the demand for stem cell assays over the coming years.
Moreover, the upsurge in demand for cancer-based drugs and therapies due to the growing prevalence of cancers positively impacts the market for stem cell assays in the healthcare industry. Furthermore, the rapid expansion in customer base, extensively rising R&D activities at the academic and industrial level, and day by day increasing scope of biomedical applications are fueling the demand for stem cell assays in the healthcare market. The increasing technological innovations in stem cell research-based instruments will bolster the growth of the global stem cell assays market share. Additionally, the growing geriatric population and increasing healthcare demands in the developing world propelling/making the growth of the stem cell assays market across the globe.
Stem cell therapy has opened a new path in the field of drug discovery & development. Regenerative medicine revolves around the use of stem cells, including embryonic, adult, and induced pluripotent stem cells. It involves the generation and use of therapeutic stem cells, tissue engineering, and artificial organs. Regenerative medicine helps the natural remedial processes, which work more effectively and more quickly. However, the ethical concern related to embryonic stem cell research and the high cost for treatment is the primary factor restraining the stem cell assay market.
Based on the type, the global stem cell assays market is segregated into cytotoxicity, isolation & purification, cell identification, proliferation, differentiation, function, and apoptosis. The cytotoxicity segment is estimated to witness the highest growth over the analysis timeframe due to the widespread use of viability assays in stem cell research activities.
The proliferation will grow significantly over a forecast period due to widespread use in regenerative medicines and cancer drugs.
The global stem cell assays market is categorized into adult stem cells and human embryonic stem cells based on the cell type. The adult stem cell segment is held for a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to the rising focus on drug screening by pharmaceutical industries, increasing research on adult stem cells, and less stringent regulations.
The Human embryonic stem cells segment is poised to witness significant growth over the forecast period due to its ability to offer more effective treatments for serious ailments such as juvenile diabetes, heart failure, Parkinson’s disease, and spinal cord injuries.
Based on the product & services, the global stem cell assays market is classified into instruments, kits, and services.
The Instruments are expected to be the highest revenue share for stem cell assays during the forecast period. The segment’s growth is primarily attributed to the growing adaptation in pharmaceutical industries and rising technological innovations in stem cell instruments.
The kits will witness a lucrative growth rate in the estimated period due to rising stem cell research and the rising prevalence of chronic conditions.
Based on the application, the global stem cell assays market is classified into regenerative medicine & therapy development, drug discovery & development, and clinical research.
Regenerative medicine & therapy development are expected to be the highest revenue share for stem cell assays during the forecast period. The segment’s growth is primarily attributed to the rising focus on developing new therapies & innovative drugs, the growing regenerative medicine industry, and the rise in the prevalence of cancer.
The drug discovery and development will witness a lucrative growth rate in the estimated period due to offering safer, cheaper, better drugs and rising demand for regenerative medicine.
Based on the end-user, the global stem cell assays market is segmented into biopharmaceutical & biotechnology companies and research institutes. The pharmaceuticals and biotechnology companies segment will dominate the global stem cell assays by 2027. It is due to the surge in pharmaceutical industries and the rising demand for novel cell therapies.
The research institutes accounted for the largest share of the stem cell assays market in 2019 because of the rising research on stem cells, economic expansion, and government focus on broader healthcare policies.
The global stem cell assays market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa by geography. North America is estimated to project substantial growth over 2020-2026. It is owing to advents in technology, the presence of leading industry players offering innovative products, and growing awareness about stem cell assays.
The Asia Pacific will capture a prominent share of the stem cell assays healthcare market by 2027. Due to the increasing research and spending in the biotechnology sector, they are continually expanding healthcare infrastructure in the region and mounting health care expenditures in growing countries such as India and China.
Companies such as Agilent Technologies, Bio-Rad Laboratories, Cell Biolabs, Thermo Fisher Scientific, GE Healthcare, Merck, PerkinElmer, Promega Corporation, Bio-Techne Corporation, HemoGenix, STEMCELL Technologies, Miltenyi Biotec, and Cellular Dynamics International are the key players in the global stem cell assays market.
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