Description

According to the Market Statsville Group (MSG), the global stem cell assays market size is expected to grow from USD 1,856.4 million in 2021 to USD 7,925.2 million by 2030, at a CAGR of 17.5% from 2022 to 2030. Stem cells are unique biological cells that can divide and grow into various types of cells. Stem cells are employed in various regenerative medical therapies and illness treatments. Stem cell tests are widely used to characterize these cells' biological and physical features, including cell size, shape, viability, purity, potency, phenotypic, and others. Stem cell assays assess live cells based on criteria such as form, size, and others. As diagnostic tools, these assays are widely employed to test biochemical and cellular activities utilizing functioning cells in studying novel medications. Cell growth, motility, and toxicity are also measured using stem cell assays.

Global Stem Cell Assays Market Definition

Stem cells are of great interest due to their unique capacity to replace damaged or faulty cells due to various traumas and illnesses, resulting in the development of new regenerative therapeutic approaches. They are also important as a research model since scientists may investigate the diverse activities of various organs and the causation of specific disorders using in-vitro studies. Drug makers mostly employ stem cell care since it allows them to test novel drugs and cures on sick cells. Stem cell assays are used in pharmaceutical and biotechnology firms, academic and research institutes, government healthcare facilities, contract research organizations (CROs), and other organizations.

Rising research spending, technological innovation, and an increase in the prevalence of chronic illnesses are the driving factors that foster the growth of the stem cell assay market. However, market expansion may be stifled due to the high cost of stem cell-based treatments and rigorous regulatory guidelines. The growing acceptance of stem cell treatments has considerably aided the market's growth. The constant increase in healthcare expenditure and financing by various governments and commercial companies in stem cell research has encouraged the market. Furthermore, technical improvement in equipment has increased market demand for stem cell tests.

COVID-19 Impact on the Global Stem Cell Assays Market

The COVID-19 pandemic has increased the burden on global healthcare systems. The pandemic has impacted cancer and stem cell research funding. In reaction to the pandemic, some cancer research institutes have lowered their financing for cancer research, while others have increased their investment. Prominent market companies are changing their long-term and short-term growth strategies by capitalizing on possibilities in the research market and introducing novel goods to battle the pandemic. This has resulted in a favorable influence on market growth.

Global Stem Cell Assays Market Dynamics

Drivers: Rising investments in stem cell research

Companies developing stem cell therapeutics have garnered venture capital funding in recent years. This has accelerated the discovery of novel treatments for illnesses like cancer. For instance, the California Institute for Regenerative Medicine awarded the City of Hope's Irell & Manella Graduate School of Biological Sciences at Beckman Research Institute a USD 4.9 million grant in March 2022. The funds will train scientists in stem cell research and its application into breakthrough, life-saving medicines.

Restraints: Difficulties in embryonic stem cell research

The study of embryonic stem cells helps researchers better understand how the human body develops under normal settings and how these cells are created and operate. These factors are critical for creating regenerative medicine therapies. However, there are some ethical concerns about the usage of stem cells. Human embryonic stem cells are created by killing human embryos at the preimplantation stage. This is a moral concern since many faiths forbid killing human embryos for scientific purposes.

Opportunities: Initiatives by the government to promote stem cell research

Various governments worldwide have launched measures to enhance their local biotechnology and biopharmaceutical sectors. This is expected to provide market growth prospects. For instance, the Government of India announced in February 2022 the development of cutting-edge stem cell research centers in 40 research and educational organizations. Over the previous three years, the government has invested around USD 1 million in stem cell research through the Indian Council of Medical Research (ICMR).

Scope of the Global Stem Cell Assays Market

The study categorizes the stem cell assay market based on type, cell type, application, and end-user at regional and global levels.

By Type Outlook (Sales, USD Million, 2017-2030)

• Viability/Cytotoxicity Assays
  • Tetrazolium Reduction Assays
  • Resazurin Cell Viability Assays
  • Calcein-AM Cell Viability Assays
  • Other Viability/Cytotoxicity Assays
• Isolation & Purification Assays
• Cell Identification Assays
• Proliferation Assays
• Differentiation Assays
• Function Assays
• Apoptosis Assays
  • Caspase Assays
  • Annexin V and Cell Permeability Assays
  • DNA Fragmentation Assays
  • Mitochondrial Assays

By Cell Type Outlook (Sales, USD Million, 2017-2030)

• Adult Stem Cells
• Mesenchymal Stem Cells
• Induced Pluripotent Stem Cells
• Hematopoietic Stem Cells
• Umbilical Cord Stem Cells
• Neural Stem Cells
• Human Embryonic Stems Cells

By Application Outlook (Sales, USD Million, 2017-2030)

• Regenerative Medicine & Therapy Development
• Orthopedic, Musculoskeletal, and Spine Applications
• Dermatology Applications
• Cardiovascular Applications
• CNS Applications
• Oncology Applications
• Diabetes Applications
• Other Regenerative Medicine & Therapy Development Applications
• Drug Discovery & Development
• Clinical Research

By End-User Outlook (Sales, USD Million, 2017-2030)

• Biopharmaceutical & Biotechnology Companies
• Academic & Research Institutes

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Viability/cytotoxicity assays segment accounts for the highest CAGR during the forecast period by type

Based on the type, the stem cell assay market is divided into viability/cytotoxicity, isolation & purification, cell identification, proliferation, differentiation, function, and apoptosis assays. The viability/cytotoxicity assays segment is classified into tetrazolium reduction tests, resazurin cell viability assays, calcein-AM cell viability assays, and other viability/cytotoxicity assays. In 2021, the viability/cytotoxicity tests category held the greatest share of this market. The growing acceptance of tests in toxicology and pharmacology is attributable to the segment's growth.

Asia-Pacific accounts for the highest CAGR during the forecast period

Based on the geographical standpoint, the global stem cell assay market has been analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to project the highest CAGR in the global market during the forecast period. This growth is attributed to the growing public-private financing to promote stem cell product research and commercialization and rising cancer and other illness prevalence, which drive the expansion of China and India's stem cell assays markets. Furthermore, biopharma and biotech businesses' increasing emphasis on strategic efforts (such as acquisitions, partnerships, and collaborations) will likely drive regional market growth. As a result, such market trends are likely to assist Asia-Pacific in dominating the overall market.

Key Market Players in the Global Stem Cell Assays Market

The global stem cell assay market is highly competitive, with key industry players adopting strategies such as partnerships, product development, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and building strong partner relations.

Major players in the global stem cell assays market are:

• Becton
• Dickinson and Company
• Danaher Corporation
• Thermo Fisher Scientific Inc.
• General Electric Company
• Merk KGaA
• Perkinelmer Inc.
• Promega Corporation
• Bio-Rad Laboratories Inc.

Key Issues Addressed

• What is the market size by various segmentation of the stem cell assays by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the stem cell assays market?
• What are the key opportunities and trends for manufacturers involved in the stem cell assays supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of stem cell assays in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.