Induced Pluripotent Stem Cell Market is Expected to Reach $3.98B by 2034 | Fact MR Report

Increasing Focus of Induced Pluripotent Stem Cell Providers to Expand Applications of iPSCs, Enhancing Market Scope

ROCKVILLE, MD, UNITED STATES, December 3, 2024 /EINPresswire.com/ -- The global induced pluripotent stem cell market is estimated to capture US$ 2,013.3 million in 2024 and expand at a 7.1% CAGR through 2034. The market is expected to attain a valuation of US$ 3,980.8 million by 2034.

The market is driven by the increasing use of iPSCs in hastening the drug development process, lowering the risk of failure in advanced stages. The surging use of iPSCs in personalized medicine is further bolstering the treatment of various diseases.

The availability of many iPSC kits like differentiation kits, reprogramming kits, and generation kits is also allowing end users to deploy these products according to their intended application. Further, the use of media and kits for toxicology testing is also enhancing market growth prospects.

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Key Takeaways from the Induced Pluripotent Stem Cell Market Study

In 2019, the induced pluripotent stem cell market gained US$ 1,427.0 million.
The North America induced pluripotent stem cell market is estimated to acquire a share of 48.7% in 2024. Backing the regional market’s growth is the contribution of the United States, which is expected to account for 91.8% of the North America market.
The East Asia market is projected to expand at a rapid pace of 9.4% through 2034. Within this region, Japan exhibits a comparatively greater market share of 38.6% in 2024.
Neurons are the leading cell type in this market, with a value share of 30.9% in 2024.
Based on the application type, the regenerative medicine segment is estimated to acquire a market share of 47.3% in 2024.
On the basis of end users, biotechnology companies are projected to obtain a value share of 57.1% in 2024.

“Key players are expected to expand their businesses in developing countries where investments in the healthcare sector are increasing. To differentiate their offerings and gain a larger share, players are also predicted to utilize disruptive technologies,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Induced Pluripotent Stem Cell Market:

Sumitomo Dainippon Pharma Co. Ltd., Ncardia, REPROCELL USA Inc.. Thermo Fisher Scientific Inc., FUJIFILM Cellular Dynamics Inc., Fate Therapeutics Inc., Evotec SE, Pluricell Biotech, Cynata Therapeutics Limited, Takara Bio Inc., ViaCyte Inc., Axol Bioscience Ltd.

Competitive Landscape

Key players are continuously enhancing their product offerings by using breakthrough and innovative technologies. A substantial amount of investment in research and development to offer disruptive products is expected to increase market competition. Further, strategic initiatives like acquisitions and partnerships are also predicted to propel the visibility of leading players. Additionally, key players are opting for business collaborations to increase their customer base.

Growth Drives for Induced Pluripotent Stem Cell Market

Advancements in Stem Cell Research: Continuous improvements in reprogramming technologies, such as CRISPR-Cas9 and gene editing, have enhanced the efficiency of generating iPSCs, broadening their applications.
Expanding Therapeutic Applications: iPSCs are gaining traction in regenerative medicine, particularly in areas such as cardiovascular, neurological, and autoimmune disorders.
Growing Investment and Funding: Public and private sectors are heavily investing in iPSC research and commercialization, supporting startups and research institutions.
Rising Prevalence of Chronic and Genetic Disorders: The global rise in chronic diseases, such as diabetes, Parkinson’s disease, and macular degeneration, highlights the need for innovative treatment solutions, positioning iPSCs as a viable therapeutic option.
Applications in Drug Discovery and Toxicology: iPSCs are increasingly used for drug screening, disease modeling, and toxicity testing due to their ability to mimic human physiological conditions in vitro.

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New Developments Shaping the Market

In April 2022, TreeFrog Therapeutics, a biotechnology company concentrated on developing affordable stem cell therapies, revealed that it has introduced a Stem Cell SpaceShot Grant worth US$ 1,00,000. This grant is open to PhD-level students and scientists to propel their stem cell biology research and encourage scientific discoveries.

Prepaire Labs entered into a five-year agreement with a competitive player named Ncardia in November 2022. This development is aimed at rapidly increasing drug discovery and development, such as lead optimization, target discovery, trial design, and toxicity assessment. This new development facilitates the development of iPSCs.

Fate Therapeutics formally declared in August 2021 that FT819 had successfully treated its first patient in a clinical trial. iPSCs were used to produce FT819, a CAR-T cell therapy.

In January 2022, Bristol Myers Squibb and Century Therapeutics signed a strategic collaboration agreement. It is anticipated that both businesses will collaborate to create allogeneic cell therapies derived from iPSCs in order to cure many myelomas and severe myeloid leukemia.

In May 2022, Sernova and Evotec formed a strategic collaboration to develop an iPSC-based beta replacement treatment for type 1 and 2 diabetes.

In July 2021, SCM Lifescience Co. Ltd., a South Korean cell therapy development company, reported that it has in-licensed a diabetes medicine from Allele Biotechnology and Pharmaceuticals, Inc. This medication is a pancreatic beta cell treatment derived from iPSCs, and the transaction was inked for US$ 0.75 million.

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