by Stem cell assays find wide application in drug development and discovery for conditions including Parkinson’s disease, Alzheimer’s disease, diabetes, heart disease, etc. These assays help evaluate cell proliferation, viability, and differentiation for developing effective stem cell-based therapies. The growing investments by both private and public research organizations in stem cell research are accelerating the demand for stem cell assays.
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:
Increasing stem cell research investments is one of the major trends fueling the growth of the stem cell assay market. Government bodies and private organizations are increasingly investing in stem cell research for developing novel diagnostics and therapeutics. For instance, the National Institutes of Health (NIH) of the U.S. invested over $1.5 billion in stem cell research in 2021. Similarly, other countries such as Japan, China, and India are also allotting sizeable funds for stem cell research. This increasing research and development activities are driving the need for stem cell assays to analyze cell function, viability, and toxicity, thereby propelling the market growth.
SWOT Analysis
Strength: Stem cell assays have tremendous potential in drug discovery and development. They have the ability to model human diseases and response to therapies.
Weakness: The procedures used for stem cell assays are complex and require specialized facilities and highly skilled personnel, increasing costs. Ethical issues also surround the use of embryonic stem cells.
Opportunity: The growing stem cell research sector is driving demand for stem cell-based screening methods and biomarkers. Development of novel stem cell types like induced pluripotent stem cells provides new opportunities.
Threats: Stringent regulations can impede research progress. Dependency on animal models continues to be a challenge. Intellectual property issues between companies also pose a threat.
Key Takeaways
The global stem cell assay market is expected to witness high growth over the forecast period of 2024 to 2031.
North America currently dominates the market due to presence of major players and higher healthcare spending. The Asia Pacific region is expected to grow at the fastest pace with increasing R&D investments from countries like China, India and South Korea.
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. These companies are focusing on developing advanced stem cell assays through collaborations and acquisitions to strengthen their market position.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
