May 24, 2024
Stem Cell Assay Market

The Global Stem Cell Assay Market Driven By Growing Drug Development Activities

The global stem cell assay market plays a crucial role in drug discovery and development, as stem cells are effective platforms for screening drug candidates and toxicity. Stem cell assays are used to evaluate the effects of drug candidates on stem cells by determining their proliferation, viability, differentiation, and cytotoxicity potential. These assays aid in evaluating the safety and efficacy of novel drug candidates at an early stage of development.

Stem cells have the ability to self-renew and develop into many different cell types, making them a promising source for replacement of damaged or dead cells. Pharmaceutical companies have recognized the potential benefits of utilizing stem cells for drug screening and toxicity assessment to improve R&D productivity and reduce costs associated with late-stage drug failures. As a result, stem cell-based assays have emerged as effective tools in preclinical research to de-risk candidates early and select the ones with desired effects on stem cells. The Global Stem Cell Assay Market Size is estimated to be valued at US$ 1159.49 Bn in 2024 and is expected to exhibit a CAGR of 32% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the stem cell assay market is the growing adoption of 3D cell cultures. 3D cell cultures mimic in vivo tissue microenvironments more closely than 2D cultures by allowing the formation of multi-cellular structures through cell-cell and cell-matrix interactions. 3D stem cell assays provide a more physiologically relevant system for drug testing compared to conventional 2D monolayer cultures. Many players are focusing on developing advanced 3D cell culture technologies to transform preclinical testing and drive decision making in early drug development. This is expected to positively impact the stem cell assay market over the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements and intellectual property protections make it difficult for new players to enter the market.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and the increasing commercialization of stem cell assays.

Bargaining power of suppliers: Suppliers of raw materials and technologies have moderate bargaining power due to the differentiated nature of their offerings.

Threat of new substitutes: Threat from new substitutes is low as there are limited viable alternatives to stem cell assays currently.

Competitive rivalry: High as the market is consolidated with few large players globally.

Key Takeaways

The global stem cell assay market is expected to witness high growth over the forecast period.

Regional analysis: North America contributes over 30% of the global stem cell assay market revenue. This is attributed to growing stem cell research activities and rising investment in drug development. Asia Pacific is anticipated to grow at the fastest pace of 40% owing to increasing healthcare expenditures and economic development in countries like China and India.

Key players: Key players operating in the stem cell assay market are Merck & Co.Inc, GlaxoSmithKline plc, Mapp Biopharmaceutical, Nanoviricides Inc., Bavarian Nordic, Chimerix, Biocomo, Geneone Life Sciences Inc, NewLink Genetics Corporation, Novavax Inc, Johnson & Johnson Private Limited, Arbutus Biopharma, Sarepta Therapeutics, Hemispherx Biopharma Inc, IMV Inc, Peptineo, Biocryst Pharmaceuticals Inc. Stem cell assays help these firms develop novel cell therapies in areas of cancer, cns disorders and gene therapeutics.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it