Market Trends of Cell Harvesting Industry
Stem Cell Research Segment Expects to Register a Significant CAGR Over the Forecast Period
- The stem cell research segment is anticipated to witness significant growth in the cell harvesting market over the forecast period owing to the factors such as the increasing investment in stem cell research owing to its potential in treating several non-curable diseases and growing company activities in the area.
- The rising number of stem cell research studies and their related funding is also contributing to the segment's growth. For instance, according to the data published by the National Institutes of Health (NIH), in May 2022, about USD 2,279 million was funded by the government for stem cell research 2022, in the United States, as compared to USD 2,186 million in 2021.
- Also, in June 2021, the Australian Federal Minister for Health and Aged Care, Greg Hunt, granted USD 18.7 million in funding for the Stem Cell Mission, which focuses on research that develops and delivers innovative, safe, and effective stem cell medicines to improve health outcomes. These types of funding are anticipated to increase the development as well as the availability of effective stem cell medicines for treating various chronic diseases among the population, thereby propelling the segment's growth.
- Furthermore, the rising company focuses on adopting various key strategic initiatives such as acquisition, agreement, collaboration, product launches, and others to increase the availability of stem cell-based drugs and therapies in the market. This is also expected to augment the segment growth over the forecast period.
- For instance, in May 2021, Jasper Therapeutics, Inc. entered into a definitive business combination agreement with Amplitude Healthcare Acquisition Corporation to develop a publicly listed biotechnology company in hematopoietic cell transplantation, with a transaction of USD 100 million. This transaction offers significant funding to expedite the development of the company's two breakthrough programs, Jasper's first-in-class clinical stage anti-CD117 antibody transplant conditioning agent and, concurrently, platform for Engineered Hematopoietic Stem Cells.
- Therefore, owing to the aforementioned factors, such as the rising research studies and growing company activities, and increasing product launches, the studied market is anticipated to grow over the forecast period.
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North America is Expected to Have the Significant Market Share Over the Forecast Period
- North America is expected to occupy a significant share of the cell harvesting market over the forecast period owing to the factors such as the rising investment in regenerative medicines, the growing biotechnology and biopharmaceutical industry, and the presence of key market players in the region.
- In addition, the rising incidence and prevalence of chronic diseases such as cancer, Alzheimer's disease, retinal diseases, and others among the population and growing research for studying the potential of stem cells for treating disease increase the demand for effective treatment therapies and drugs. This is expected to fuel the demand for cell harvesting systems, hence boosting the market growth.
- For instance, as per the Endocrine Society, in June 2022, a clinical study presented at the Endocrine Society's annual meeting in Atlanta showed that PEC-Direct, an investigational stem cell-based therapy designed to function as a replacement pancreas, has the potential to provide blood sugar control in patients with high-risk type 1 diabetes.
- Furthermore, the rising companies investing in research and development for developing biotechnology products are expected to increase the biotechnology and biopharmaceutical sector, thereby bolstering market growth. For instance, in November 2022, Orgenesis invested USD 50 million in its subsidiary, Morgenesis, to grow its point-of-care cell therapy platform in the United States.
- Moreover, the increasing adoption of business strategies such as collaboration, investments, acquisition, and others are anticipated to increase the availability of regenerative medicines and cell-based products in the market. This is also contributing to the market growth over the forecast period.
- For instance, in October 2022, Meso Numismatics, Inc. collaborated with STEM LIFE, which enhances Global Stem Cells Group's goal of establishing its therapies and technology to create centers of excellence in cell therapy to meet the high demand in the Mexican market. Also, in January 2022, ProKidney agreed to a public merger transaction to conduct a pivotal test of its cell therapy with an investment of USD 825 million to support its clinical trial plans.
- Therefore, due to the aforementioned factors, such as the increasing research studies related to stem cell therapy, growing company activities, and rising research and development investments, the studied market is anticipated to grow over the forecast period.
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