Stem Cell Manufacturing Market, By Type (Product, Services), By Application (Stem Cell Therapy, Drug Discovery and Development, Stem Cell Banking), By End-User (Pharmaceutical and Biotechnology Companies & CRO, Cell Banks and Tissue Banks, Academic & Research Institutes, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI5381

Pages :168

Formats :

Excel and PDF

Industry : Biotechnology

Market Challenges: High cost associated with stem cell manufacturing

The global stem cell manufacturing market's growth is likely to be impeded by the high costs associated with stem cell production. Despite the significant contributions of stem cell therapies to the treatment of incurable diseases, the expense of manufacturing stem cells poses a challenge to market expansion. Furthermore, socio-ethical concerns surrounding the use of human embryonic stem cells are expected to restrict the growth of the global stem cell manufacturing market. For instance, according to article provided by ScienceDirect in October 2020 research involving human embryonic stem cells is a subject of ethical and political controversy due to the destruction of human embryos. In the United States, the contentious issue of when human life begins is closely intertwined with the abortion debate.

Market Opportunities: Growing stem cell banking industry

The growing stem cell banking industry provides a great opportunity for growth in the stem cell manufacturing market. As more parents opt to store umbilical cord blood stem cells for potential future medical use, the demand for stem cell storage and processing is accelerating. According to the World Marrow Donor Association, over 30 million stem cell units have been collected worldwide in 2020. This stored biomass of stem cells will need to be safely processed and manufactured into various therapies as medical research continues to develop new treatment protocols.

For Instance, according to an article published in PubMed in September 2022, stem cell therapy, supported by both in vitro and in vivo studies, demonstrates safety and effectiveness in treating a range of diseases. Stem cell treatment aims to repair or restore damaged organs and congenital abnormalities utilizing human stem cells, including embryonic stem cells (ESCs), adult stem cells (ASCs), and induced pluripotent stem cells (iPSCs).