The overall growth of the induced pluripotent stem cells market is driven by increasing trends in the use of regenerative medicine in drug development coupled with the expansion of research and development of the stem cells on a global level. In addition, the diverse applications of induced pluripotent stem cells for disease modelling, drug development (patient-dependent drug efficacy), and many others are driving the growth of induced pluripotent stem cell market. The increasing use of regenerative medicine utilizing induced pluripotent stem cells, also propels the market growth. For instance, according to the estimates of National Institutes of Health (NIH), more than 500,000 people had used regenerative medicine technology in U.S. alone. However, certain ethical issues among the population can hamper the growth of induced pluripotent stem cells market. The complications in the generation of induced pluripotent stem cells such as low efficiency, genomic insertion, tumorigenicity, and incomplete generation of stem cells, can hinder the global market of induced pluripotent stem cells.
Geographically, global induced pluripotent stem cells market can be segmented by region into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North America is expected to hold the largest market share for induced pluripotent stem cells over the forecast period, followed by Europe owing to easy availability of highly developed technology protocols and standardizations of procedures. In addition, these regions are equipped with a large population of skilled professionals, and better infrastructure, in addition to investment in research and development and hence, drives the growth of induced pluripotent stem cells market. Asia-Pacific region is expected to be a high growth region over the forecast period owing to the increasing R&D ventures in countries such as Japan, China, and India, and increasing regulatory policies. However, the regions such as Latin America, Middle East, and Africa shows steady growth during the forecast period owing to the presence of limited healthcare infrastructure, and lack of skilled professionals.
Some of the market participants in the global induced pluripotent stem cells are BrightPath Biotherapeutics Co., Ltd, Biotime, Inc., Evotec AG, HipSci, and Fate Therapeutics, Inc.
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