Human Embryonic Stem Cells Market To Be Valued at US$ 1,955.3 Mn By 2028

Human embryonic stem cells (hESCs) are pluripotent cells, which means these cells can make any other cell in the body. They are made from cells found in very early human embryos, called blastocysts. Embryonic stem cells (ESC) are pluripotent cells which give rise to all somatic cell types in the embryo. Human embryonic stem cells have the high potential for use in treatment and may become a standard of care for various cardiac and malignant diseases. The usage of human embryos for research on embryonic stem (ES) cells is currently high on the ethical and political agenda in many countries.

Market Statistics:

The global human embryonic stem cells market is estimated to account for US$ 1,152.2 Mn in terms of value by the end of 2022.

Drivers:

Increasing support for stem cell research from both government and private organizations and favorable government initiatives are expected to propel growth of the global human embryonic stem cells market during the forecast period. Government and private organizations around the world are supporting stem cell research through national funding agencies, as hESCs have the high potential for use in treatment and may become a standard of care for various cardiac and malignant diseases. In June 2020, the Australian Government funded US$ 5.9 million for eight medical research projects to find new, innovative stem cell treatments for incurable diseases, including leukemia, Parkinson’s disease, and epilepsy.

Opportunities:

Rising demand for regenerative medicines around the world is expected to provide significant growth opportunities for players in the human embryonic stem cells market. For instance, hESC has great promise for regenerative medicine and can lead to the rare treatment of diabetes, stroke, myocardial infarction, neural diseases, and other prominent human diseases. In April 2022, TreeFrog Therapeutics, a biotechnology company aimed at making safer, more efficient and more affordable cell therapies based on induced pluripotent stem cells (iPSCs), announced the launch of The Stem Cell SpaceShot Grant, a $100,000 research funding in the field of stem cell biology and regenerative medicine.

Restraints:

High cost of the procedure and stringent regulatory guidelines are some major factors expected to hinder growth of the global human embryonic stem cells market. Stem cell therapy costs can range anywhere from US$ 5000 - US$ 50,000. The cost of the media used for human embryonic stem cell manufacturing is even higher. Medium of Thermo Fischer cost around INR 32,954 for just 500ml. In India, it takes approximately a year to get the Drugs Control General of India (DCGI)’s approval for conducting any type of stem cell clinical trial.

To know the latest trends and insights prevalent in The Global Human Embryonic Stem Cells Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/human-embryonic-stem-cells-market-5275

Global Human Embryonic Stem Cells Market - Impact of Coronavirus (Covid-19) Pandemic

Outbreak of COVID-19 has had a positive impact on the growth of the global human embryonic stem cells market. This is attributed to the growing adoption of stem cell therapies and rising number of clinical trials worldwide. Many governments, pharmaceutical and biotech firms, and research institutes are focusing on developing or launching safe and effective drugs or vaccines to fight against the pandemic. For instance, in May 2020, Lineage Cell Therapeutics received a grant of US$ 5 million from the California Institute for Regenerative Medicine (CIRM) to support the use of VAC, Lineage’s allogeneic dendritic cell therapy, for the development of a potential vaccine against SARS-CoV-2, the virus that causes COVID-19.

Key Takeaways:

The global human embryonic stem cells market was valued at US$ 1,058.9 Mn in 2021 and is forecast to reach a value of US$ 1,955.3 Mn by 2028 at a CAGR of 9.2% between 2022 and 2028.

Among application, regenerative medicine segment held dominant position in the global human embryonic stem cells market in 2021, accounting for 60.4% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

Different types of stem cells are used for therapeutic purposes. With several applications in the clinical stage for various diseases, these cells are being widely explored by a number of pharma and biopharma companies worldwide. Furthermore, with the success in human embryonic stem cells and technological advancements in the field of stem cell, the number of clinical trials is also increasing across the globe. This trend is expected to continue during the forecast period, driving the growth of the human embryonic stem cells market.

Competitive Landscape:

Major players operating in the global human embryonic stem cells market include Takara Bio Inc., ViaCyte Inc., PromoCell GmbH, Merck KgaA, PeproTech Inc., Astellas Pharma Inc., Thermo Fisher Scientific, Lineage Cell Therapeutics Inc., and STEMCELL Technologies Inc., among others.

Recent Developments:

In August 2019, PromoCell announced that it now offers a broad range of high-quality HLA-typed cells from several organs that allows scientists to test their therapies and detect potential cross-reactions.

In April 2019, Thermo Fisher Scientific Inc. and Brammer Bio announced that they have entered a definitive agreement, under which Thermo Fisher will acquire Brammer Bio.