India Stem Cell Market to Witness 12% CAGR until 2026
Growing industry attention
on stem cell research and surging demand for regenerative medicines to drive
India stem cell market
According to
TechSci Research report, “India
Stem Cell Market By Product Type, By
Application, By Technology, By Region, Competition Forecast &
Opportunities, FY 2026”, the India stem cell market
is projected to grow at around 12% CAGR during FY 2021 – FY 2026 predominantly on account of increase
in stem cell-based research. In addition to this, partnerships in order to
reprogram newborn stem cells using umbilical cord blood as well as tissues into
iPSCs is further creating lucrative growth opportunities for the key market
players. Moreover, surging demand for the development of vaccines using
different human diploid and non-tumorigenic cell lines for protecting against
various diseases is expected to create headway for the growth of stem cell
market in the country over the coming years. Furthermore, huge success of
regenerative medicine is anticipated to offer healthy push to the market growth
through FY 2026. Also, improvements in banking facilities coupled with the
enhancement of stem cell production, storage, and characterization are some
other factors that are expected to lead to revenue generation in the market in
the years to come. However, ethical issues associated with pluripotent stem
cells might act as a major impediment to the growth of India stems cells market
through FY 2026.
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India stem cell market is
segmented based on product type, application, technology, and region. Based on application,
the market can be categorized into regenerative medicine and drug discovery
& development. Among them, the regenerative medicine segment dominated the
market in terms of highest revenue share until 2019 and is expected to continue
its dominance during the forecast period as well. This growth can be attributed
to the escalating adoption and continuing development of companion diagnostics
and personalized medicine to be used in oncology and other chronic infections. Drug
discovery & development segment is anticipated to record high growth over
the next 5 years on account of ease of programming for developing the cells of
the heart, liver and other human organs to make drug testing process accurate
and less expensive.
Reliance Life Sciences, LifeCell
International Private Limited, Cryobanks International India Private Limited,
Cordlife India, StemCyte India Therapeutics Private Limited, ReeLabs Private
Limited, Stempeutics Research Private Limited, among others are some of the
leading players operating in India stem cell market. These market players are
focusing more on strategic partnerships in order to expand their reach. For
instance, in June 2019, Evotec SE collaborated with Celgene to include a new
iPSC which is targeted towards discovering disease-modifying treatments. This will
aid patients who are suffering from neurodegenerative diseases.
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“India stem cell
market is expected to witness significant growth during the forecast period.
Moreover, rising awareness regarding stem cell therapies is propelling the
growth of the country’s stem cell market.
In terms of technology, the market is segregated into cell acquisition,
cell production, cryopreservation and expansion & subculture, out of which,
cell acquisition technology is forecast to dominate the market until FY 2026 owing
to the anticipated growth in cell harvesting technologies.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Stem Cell Market By Product Type, By Application, By Technology, By
Region, Competition Forecast & Opportunities, FY 2026” has evaluated the future growth potential of India stem
cell market and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India stem cell market.
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