by The global induced pluripotent stem cells market comprises cells derived from adult somatic cells that have been genetically reprogrammed to an embryonic stem cell-like pluripotent state. iPSCs possess advantages over embryonic stem cells as they can be reprogrammed directly from adult tissues, thus avoiding the controversy associated with embryonic stem cells.
The global iPSC 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 Demand 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. The growing demand for regenerative medicines along with the increasing investments in iPSC research are fueling the growth of the market. Further, the expansion of global biobanks for iPSC lines is also contributing to the market growth.
The growing demand for regenerative medicines and cell therapy applications of iPSCs is fueling the growth of the global market. Cell therapies derived from iPSCs offer potential treatment outcomes for various incurable diseases. Further, increasing public and private investments in iPSC based drug discovery and development is also propelling the demand.
The global iPSC market is witnessing positive growth driven by the expansion of biobanks for iPSC lines across major markets. Biobanks are engaged in collecting, processing, storing and distributing iPSC lines for research purposes. For instance, HipSci iPSC bank in the UK maintains over 600 cell lines for research access. Additionally, initiatives such as the iPSC bank project in Japan is aiding expansion.
Market Key Trends
The major trend gaining popularity in the global induced pluripotent stem cell market is the development of xeno-free reprogramming and culture systems. Earlier protocols incorporated animal-derived reagents and feeders rendering them unsuitable for clinical use. However, latest technologies utilizing synthetic compounds have enabled xeno-free reprogramming of adult cells while also supporting feeder-free culture of iPSCs. This critical development ensures the safety of iPSC-based therapies.
Porter’s Analysis
Threat of new entrants: New entrants face high entry costs for research, development, and manufacturing of novel iPSC products. Bargaining power of buyers: Buyers have low bargaining power due to lack of substitutes and high importance of iPSC products in research and development. Bargaining power of suppliers: A few biotech companies supplying key reagents and materials for iPSC research pose moderate threat to customers. Threat of new substitutes: Limited substitutes for iPSC in disease modeling and drug discovery pose low threat of new substitutes. Competitive rivalry: Intense competition exists among existing players to develop innovative iPSC-based technologies and applications.
Geographical Regions
North America currently holds the largest market share in terms of value due to extensive research and development activities in the region. The United States contributes significantly to the growth of the regional market.
Asia Pacific is expected to be the fastest growing region during the forecast period. Rapidly developing biotech industry, increasing investment in stem cell research, and rising disease incidence are driving the market in countries such as China and India. Infrastructural development and favorable regulations also support the growth of iPSC market in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
