The market outlook has proven favorable for regenerative medicines as well as genetically modified Cell Therapy products. The role of stem cells has grown vastly; various stem cell lines are being evaluated by life science researchers for use in effective disease management and biological studies. This trend has provided a lucrative growth opportunity for cell line manufacturers offering specific stem cell lines and related products.
This has been underscored in a research study published by MarketsandMarkets that expects the global stem cell manufacturing market to reach a value of USD 14.6 billion by 2023 at a CAGR of ~7% from 2017.
Stem cell manufacturing involves various cell isolation & bioprocessing technologies utilized for the production scale-up of stem cell lines while retaining their reproducibility and potency. Current advancements in the stem cell manufacturing industry include accelerated stem cell production and process automation to achieve the desired economies of scale. Stem cell lines, derived from human or animal sources, are the most important element of a stem cell manufacturing process and further utilized for clinical and research applications. Finished stem cell lines are often offered by manufacturers along with culture media and incubators to maintain cell viability and potency.
The stem cell industry is also witnessing significant public-private funding and investments. This has driven the development of innovative technologies for efficient manufacturing scale-up, effective quality control, and greater product affordability. Evolving regulatory frameworks across major markets will ensure the greater use of stem cell products, thereby supporting the expansion of the stem cell manufacturing industry during the next decade.
As of 2017, prominent companies in Stem cell manufacturing market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), Miltenyi Biotec GmBH (Germany), Pharmicell Co., Ltd. (South Korea), Osiris Therapeutics, Inc. (US), Anterogen Co., Ltd. (South Korea), Cellular Dynamics International (US), MEDIPOST Co., Ltd. (South Korea), Lonza Group (Switzerland), and Pluristem Therapeutics Inc. (Israel), among others.
To read more about the market study and the assumptions considered, download the PDF Brochure