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.
Browse over 12 market data Figures spread through 70 Pages and an in-depth TOC on "India Stem Cell Market" https://www.techsciresearch.com/report/india-stem-cell-market/4556.html
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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