specific induced pluripotent stem cells which can then be further differentiated into cells of various tissues like neurons, heart or pancreatic beta cells to study diseases at cellular level and for developing new therapies. The increasing demand for regenerative medicines, cell based therapies and availability of funds for stem cell research are major factors driving the growth of this market.
The Global Induced Pluripotent Stem Cells Market is estimated to be valued at US$ 1,595.4 MN in 2024 and is expected to exhibit a CAGR of 1.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Induced Pluripotent Stem Cells Market Size are Takara Bio Inc., Thermo Fisher Scientific, Fujifilm Holdings Corporation, Astellas Pharma, Fate Therapeutics, Ncardia, ViaCyte, Cellular Dynamics International, Lonza, Blueprint Medicines and Other Prominent Players. These players are focused on research activities to develop new applications of iPSCs in disease modelling and drug discovery.
The demand for induced pluripotent stem cells is increasing in the areas of drug testing, genetic disease modelling and regenerative medicines. Induced pluripotent stem cells can now be easily and efficiently produced from adult tissues and have wide applications in the field of drug development and cell therapies.
Major players are also focusing on expansion plans to strengthen their global footprint and facilitate large scale production of induced pluripotent stem cells. For instance, in 2021, Fate Therapeutics opened a new manufacturing facility in San Diego to support clinical development programs for off-the-shelf, universally-compatible cellular immunotherapies manufactured from induced pluripotent stem cells.
Market Drivers
Rising prevalence of various genetic diseases like Parkinson’s disease, heart diseases, diabetes etc. is the key factor driving the demand for iPSCs. Induced pluripotent stem cells hold potential to model these diseases at cellular level to better understand disease mechanisms and aid drug discovery research. They can also be used to produce patient and disease-specific stem cells for developing advanced cell therapies. Increase in stem cell research funds by governments worldwide for supporting RD in regenerative medicine applications is another major growth driver in this market.
The current geopolitical conflicts and tensions are expected to impact the growth of the global induced pluripotent stem cells market. Rising political instability and conflicts in different parts of the world are hindering cross-border collaborations and partnerships between research institutes and life sciences companies. This is negatively impacting stem cell research projects involving international exchange of knowledge and resources. Moreover, stringent regulations and import-export restrictions imposed by certain countries on stem cell research materials have created operational challenges for market players. However, governments worldwide are increasing funding for stem cell-based drug development projects to tackle various diseases.
Developing regions such as Asia Pacific and Latin America possess high growth potential for the iPSC market. Both public and private institutions in Asia Pacific are investing aggressively in building state-of-the-art stem cell research infrastructure. This can boost clinical trials and new product development activities in the coming years. Several biotech companies have also shifted their RD centers to Asia to benefit from low-cost operations and expertise availability. In Latin America, government Initiatives to develop regenerative medicine capabilities are luring global firms to set up manufacturing and distribution units. However, both regions face hurdles like low awareness, regulatory complexities and high therapy costs that need to be addressed to realize the market’s full potential.
Get more insights on Global Induced Pluripotent Stem Cells Market