rising prevalence of several chronic disorders is driving the Induced Pluripotent Stem Cells Production Market
Technavio analyzes that the Induced Pluripotent Stem Cells Production Market is expected to grow at a CAGR of 11.66% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1841.79 million.There are various factors that contribute to the growth of the market. Induced Pluripotent Stem Cells (iPSCs) production is experiencing significant growth due to the escalating prevalence of chronic disorders. iPSCs offer a promising solution for disease modeling, drug discovery, and cell therapy applications. The ability to generate iPSCs from adult cells, such as skin or blood cells, eliminates the ethical concerns associated with embryonic stem cells. This technology's versatility and potential to address unmet medical needs are driving market expansion. iPSCs production is poised for substantial growth as research and development efforts continue to advance this transformative field.
In the global Induced Pluripotent Stem Cells (iPSCs) production market, hospitals serve as a significant end-user segment. These institutions utilize iPSCs and iPSC-derived cell therapies for various applications in advanced research and personalized healthcare. iPSC technology is leveraged in hospitals for regenerative medicine, disease modeling, and the development of innovative treatments for a broad spectrum of diseases and conditions, such as cardiovascular disorders, neurological diseases, and genetic disorders. The potential of iPSC-based therapies to revolutionize patient care lies in their ability to offer personalized treatment options tailored to individual genetic profiles and disease characteristics. Hospitals play a pivotal role in the clinical translation of these therapies by conducting clinical trials and providing cutting-edge treatments to patients, thereby driving the adoption of iPSCs. This, in turn, propels the growth of the hospitals segment in the global iPSCs production market. The Mantarray platform and reprogramming methods, including the use of retroviruses, contribute to the production of iPSCs. Despite the challenges of chromosomal and genetic instability, advancements in cell culture techniques continue to address these concerns, ensuring the safety and efficacy of iPSC-based therapies.
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Induced Pluripotent Stem Cells Production Market Segmentation
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The Induced Pluripotent Stem Cells (iPSCs) production market encompasses the use of iPSCs in oncology and stem cell-based therapies for regenerative medicine and cell therapy. iPSCs are produced through reprogramming methods, replacing embryonic stem cells. Automated platforms and consumables/kits facilitate iPSC production. Toxicology studies are crucial for iPSC-derived cells like salivary gland cells, hepatocytes, fibroblasts, keratinocytes, and neurons in clinical trials and animal models. Companies like Fate Therapeutics and their Mantarray platform are pioneering iPSC-based CAR-T cell treatment. Tissue engineering applications also utilize iPSCs for creating functional tissues.
The Induced Pluripotent Stem Cells (iPSCs) production market is a significant segment within the larger pharmaceuticals market in the healthcare industry, as identified by Technavio. This market encompasses businesses involved in the research and development or production of iPSCs for cancer, oncology, stem cell-based therapies, and regenerative medicine. The global pharmaceuticals market, which includes companies dealing with generic and non-generic drugs, veterinary drugs, and iPSCs, was valued at USD1,495.51 billion in 2023. Technavio's healthcare market analysis considers the revenue generated by manufacturers and providers of equipment, consumables, and kits for iPSCs production, pharmaceuticals, biotechnology, and life sciences tools and services. The growth of the pharmaceuticals market is anticipated to be fueled by factors such as the increasing global population aging, with the number of people over 60 years old projected to rise significantly.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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