Market Trends of Cell Harvesting Industry
The Stem Cell Research Segment Expected 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 increasing investments in stem cell research due to its potential in treating several non-curable diseases and growing company activities in the field.
The rising number of stem cell research studies and related funding also contribute to the segment's growth. For instance, according to the data published by the National Institutes of Health (NIH) in May 2024, about USD 835 million was provided by the government for induced pluripotent stem cell research in the United States in 2023. The funds are expected to reach USD 866 million by 2025. This shows growing investments in stem cell research, which are expected to drive the segment's growth over the forecast period.
Furthermore, companies are increasingly focusing on adopting critical strategic initiatives, such as production expansion and product launches, to increase the availability of stem cell-based drugs and therapies in the market. This is also expected to augment the segment's growth over the forecast period. For instance, in March 2024, Gladstone announced plans to expand its capabilities by establishing a center for stem cell disease modeling and CRISPR drug screening with a USD 4 million grant from the California Institute for Regenerative Medicine. Hence, the expansion of stem cell capabilities is likely to raise the demand for cell harvesting equipment, thereby boosting the segment’s growth over the forecast period.
Therefore, the rising number of stem cell research studies and companies’ growing focus on stem cell disease are likely to boost the segment’s growth over the forecast period.
North America Expected to Have a 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 factors such as rising investments in regenerative medicines, the growing biotechnology and biopharmaceutical industries, 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, and retinal diseases, among the population and growing research into 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, boosting 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 number of companies investing in research and development for developing biotechnology products is expected to increase the biotechnology and biopharmaceutical industry, 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 collaborations, investments, and acquisitions, is anticipated to increase the availability of regenerative medicines and cell-based products in the market, thus also contributing to the market's 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, the market studied is anticipated to grow over the forecast period due to the factors above, such as the increasing research studies related to stem cell therapy, growing company activities, and rising research and development investments.
