The rising shift towards regenerative medicines is driving the global induced pluripotent stem cells, says Fortune Business Insights in a report, titled “Induced Pluripotent Stem Cells Market Size, Share and Global Trend By Derived Cell Type (Amniotic cells, Fibroblasts, Keratinocytes, Hepatocytes, Others), By Application (Regenerative medicines, Drug development, Toxicity testing, Reprogramming technology, Academic research, Others), By End-user (Hospitals, Education & research institutes, Biotechnological companies) and Geography Forecast till 2026.” Active government support through research grants is a factor backing the growth of the global induced pluripotent stem cells.
Top Leaders Overview:
Some of the leading companies in the Induced Pluripotent Stem Cells market
- Astellas Pharma
- Applied StemCell
- FUJIFILM Cellular Dynamics
- Axol Bioscience
- Bristol-Myers Squibb Company
- R&D Systems
- Fate Therapeutics
- Evotec AG
- ViaCyte Inc
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Launch of mTeSR™ Plus by STEMCELL Technologies Will Augment Growth
STEMCELL Technologies Inc., a global biotechnology company launched mTeSR™ Plus, an enhanced version of mTeSR™1, a widely published feeder-free human pluripotent stem cell (hPSC) maintenance medium. mTeSR™ Plus will be used to prevent onset acidosis. The launch of mTeSR™ Plus is likely to encourage global induced pluripotent stem cells growth owing to the design of the mTeSR™ Plus, which offers more consistent cell culture environment through sustained medium pH and stabilized components including FGF2. Furthermore, warning by FDA for marketing dangerous unapproved stem cells products is expected to alert pharmaceutical companies to market FDA approved products. This factor will, in turn, enable growth of the global induced pluripotent stem cells. For instance, the U.S Food and Drug Administration (FDA) sent a warning to Genetech, Inc. for marketing stem cell therapy without the U.S FDA approval and nonconformity of Good Manufacturing Practice (CGMP).
An Overview of the Impact of COVID-19 on this Market:
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Rising R&D Investment by Key Players Will Accelerate Growth in North America
Geographically, the global induced pluripotent stem cells market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global induced pluripotent stem cells market during the forecast period due to the increasing R&D investment by key players for potential pipeline products. In Europe, the global induced pluripotent stem cells market is anticipated to grow significantly during the forecast period. The active government support and product launches are predicted to favor growth in the region. For instance, in 2018, Ncardia, a company working for drug discovery using stem cell, launched Xpress.4U LightPace Cor.4U, a kit for improving and simplifying the use of optical pacing of cardiomyocytes, a human induced pluripotent stem cell. The aforementioned factors together are enabling growth in Europe.
Some of the major companies that are present in the global induced pluripotent stem cells market are Astellas Pharma Inc., Ncardia, Applied StemCell, FUJIFILM Cellular Dynamics Inc., Axol Bioscience Ltd., Bristol-Myers Squibb Company, R&D Systems Inc., Fate Therapeutics, Evotec AG, ViaCyte Inc., and other players.