by The global Stem Cell Assay Market is estimated to be valued at US$ 1.6 Billion in 2022 and is expected to exhibit a 16.5% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stem cell assays are extensively used in stem cell research and development to identify, isolate, culture and characterize stem cells. These assays help detect the presence of stem cells and analyze their growth, proliferation and differentiation capabilities. With advancements in regenerative medicines and stem cell therapies, stem cell assays have become vital research tools in drug development, toxicology testing, and disease modeling. They help gain insights into lineage commitment, cell potency and mechanisms involved in various stem cell applications. The ability of these assays to emulate in vivo conditions make them highly useful in stem cell studies.
Market key trends:
Increasing stem cell research activities across the globe driven by growing focus on regenerative medicines is a key trend fueling demand for stem cell assays. Stem cells hold potential in treatment of various chronic and degenerative conditions. Their ability to regenerate tissues make them promising candidates for cell-based replacement therapies. As per data, over 800 clinical stem cell trials are currently underway. Growing focus on development of advanced therapeutics is expected to augment stem cell assay usage. Additionally, technological advancements facilitating high-throughput analysis, automated processing and detection of multiple cell parameters from small samples are also contributing to market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the stem cell assay market is moderate. High capital requirements for R&D and manufacturing facilities pose barriers for new companies.
Bargaining power of buyers: The bargaining power of buyers is high. Large pharmaceutical companies have significant influence over stem cell assay manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of raw materials have few substitutes and hold some pricing power.
Threat of new substitutes: The threat of substitutes is low. No products have emerged that can replace stem cell assays for drug discovery and development applications.
Competitive rivalry: The competitive rivalry in the stem cell assay market is high due to the presence of well-established global players.
Key Takeaways
The global Stem Cell Assay Market Share is expected to witness high growth, exhibiting CAGR of 16.5% over the forecast period, due to increasing investments in stem cell research.
The US dominates the global stem cell assay market, owing to large biotechnology industry and availability of government and private funding for stem cell research. Europe is also a major market for stem cell assays driven by rising R&D activities for drug discovery applications. Asia Pacific is expected to be the fastest growing regional market, led by China and India.
Key players operating in the stem cell assay market include Merck & Co., Thermo Fisher Scientific, GE Healthcare, Agilent Technologies, Bio-Rad Laboratories, Promega Corporation, Cell Biolabs, PerkinElmer, Miltenyi Biotec, HemoGenix, Bio-Techne Corporation, STEMCELL Technologies, and Cellular Dynamics International.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
