Stem Cell Assay Market worth 1,978.7 Million USD by 2023

Stem Cell Assay Market by Type (Viability, Purification, Identification), Cell Type (Mesenchymal, iPSCs, HSCs, hESCs), Product & Service (Instruments, Kits), Application (Regenerative Medicine, Clinical Research), End User - Global Forecast to 2023

(EMAILWIRE.COM, September 28, 2021 ) Factors driving the growth of this market include the rising incidence of target indications; availability of funding for stem cell research; technological advancements in stem cell research instruments; and growth of end-use industries.

By type, viability/cytotoxicity assays accounted for the largest share of the market in 2017

On the basis of type, this market is classified into viability/cytotoxicity, differentiation, cell identification, isolation & purification, function, proliferation, and apoptosis assays. The viability/cytotoxicity assay segment accounted for the largest share of global stem cell assay market in 2017. Factors driving the growth of this segment include the increasing number of stem cell-based research activities and wider availability of viability assays across the globe.

Adult stem cells segment led the stem cell assay market in 2017

By cell type, this market is classified into adult stem cells and human embryonic stem cells. The adult stem cells segment accounted for the largest share of global stem cell assay market in 2017. Key factors driving the growth of this segment include the rising number of adult stem cell-based research activities and less stringent regulations for adult stem cell research compared to human embryonic stem cell research.

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The growth of the stem cell assays market corresponds with that of the biotechnology and biopharmaceutical industries, as these form significant end users for stem cell research products. The continuation of this trend—the growth of the end-user base—has compelled a number of companies to launch new products and invest in stem cell-based therapies.

Research in cell biology necessitates the use of animals and humans, as animal and human cells are used in gene therapy studies that involve the recombination of genes and stem cell research therapies. These cells are also used for in vivo toxicity and pharmacokinetic testing of drugs that may harm animals and humans. In addition, stem cell research studies use human embryos for clinical applications that often lead to the destruction of the embryos.

In order to monitor these activities, strict regulations have been formulated by ethical authorities, such as the Human Tissue Authority (HTA), Human Fertilization and Embryology Authority (HFEA), Medicines and Healthcare Products Regulatory Agency (MHRA), and Central Ethics Committee for Stem Cell Research. The presence of these ethical concerns and restrictions on the use of cells for research is limiting cell biology research to a great extent in various countries across the globe. This, in turn, is expected to restrict the growth of the stem cell assays market.

By cell type, the market is segmented into adult stem cells and human embryonic stem cells. The adult stem cells segment accounted for the largest market share of the global stem cell assay market in 2017. Increasing research on adult stem cells and less stringent regulations are the key factors driving the growth of the adult stem cell market.

On the basis of product & service, the stem cell assay market is segmented into instruments, kits, and services. The instruments segment is estimated to account for the largest share of the global stem cell assay market during the forecast period. The growth of this segment is primarily attributed to the ongoing technological innovations in stem cell instruments and the rising number of stem cell research activities across the globe.

By application, the stem cell assay market is classified into regenerative medicine and therapy development; drug discovery and development; and clinical research. The regenerative medicine and therapy development segment is estimated to account for the largest share of the global stem cell assay market in the next five years. The large share of this segment can be attributed to the growing regenerative medicine industry and increasing demand for stem cells in the development of various types of cell therapies.

Key players in the stem cell assay market include Thermo Fisher Scientific (US), GE Healthcare (US), Merck (Germany), Bio-Rad Laboratories (US), Promega Corporation (US), Agilent Technologies (US), PerkinElmer (US), Miltenyi Biotec (Germany), Cell Biolabs (US), HemoGenix (US), STEMCELL Technologies (Canada), Bio-Techne Corporation (US), and Cellular Dynamics International (US).