The global Induced Pluripotent Stem Cell (iPSC) market size was valued at USD 1,491.8 million in 2020 and is anticipated to grow at an estimated CAGR of 9.3% during the forecast period. Rising demand for vaccine production especially after the onslaught of the pandemic, increasing investments in the iPSC sector, widening of application portfolio due to continuous R&D activities are some of the factors contributing towards rapid iPSC market growth.
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Moreover, several organizations, both private and government have shown interest in the sector and are taking concentrated efforts to set up infrastructure that better serves their purpose and this trend is also expected to benefit the market growth for iPSC in the near future. iPSC cells are fast becoming a unique model for a detailed study of various processes occurring in mammals and have shown promising results in cell therapy pertaining to human diseases. iPSC can reproduce and self-renew in an unlimited manner in the differentiation process.
Both differentiation types namely, spontaneous and directed are connected with expression pattern and epigenetic transformation changes which results in epigenome and transcriptome adjustment specific to a distinct cell type. This inherent advantage is proving beneficial for iPSC industry growth. Time and again, research has indicated that both, iPSC as well as their derivatives have proved themselves to be potent in a host of applications such as biomedicine, toxicology, pharmacology, and regenerative medicine among others.
Companies and research institutes alike are taking concentrated efforts for the development of iPSC methods of production that are aimed at minimizing mutation possibilities of cell genomes under in vitro culturing and that reduce the overall possibility of injected cell malignant transformation. There has been a rapid rise in realization across the globe that it is absolutely necessary to develop methods for human iPSC culturing by completely eliminating the usage of animal cells and therefore, concentrated efforts are being taken in this direction. In addition, special efforts are also being taken to achieve maximum standardization of conditions pertaining to cell culturing and differentiation.
It is anticipated that over the near future iPSCs are bound to become an alternative to ESCs, particularly in specific areas such as pharmaceutical screening and cell replacement therapy. The close resemblance of iPSCs with ESCs, and their ability to get produced in unlimited numbers from particular differentiated cells of specific patients is contributing to this scenario and this factor is expected to benefit the market growth. Though the iPSC industry is relatively novel in nature, intensive research and activities concerning patient-specific iPSC and directed iPSC differentiation is a key industry trend that is bound to propel market growth over the forecast period.
The market is primarily segmented on the basis of the derived cell, application, and region.
By Derived Cell
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Cardiomyocytes emerged as the largest segment in 2020 and the segment is expected to continue its dominance over the iPSC industry over the forecast period. The segment is also expected to witness the highest growth rate over the forecast period. Cardiomyocytes, especially those derived from human sources provide a significant advantage to researchers due to the fact that they provide a smooth and continuous supply of cardiomyocytes that are from a common genetic background and can thus be used in multiple or simultaneous experiments.
These cell types are expected to be used in novel applications such as electrophysiology and metabolism studies in the near future and this trend has positively impacted the growth rate of the market segment. Fibroblasts occupied a significant market share in 2020 and this trend is expected to continue till 2028. The application of fibroblasts in novel application scenarios, in which not research has been done such as the study of hand osteoarthritis (hOA) has resulted in rapid market segment growth. Widening applicability in a host of such situations for deeper study of cellular mechanisms and molecular mechanisms has resulted beneficial for the market segment growth.
In terms of application, the market has been segmented into manufacturing, academic research, drug development & discovery, toxicity screening, and regenerative medicine. Drug development and discovery emerged in 2020 as the dominant market segment in the iPSC industry. The segment is also expected to witness the fastest growth over the next seven years. The active interest of major pharmaceutical companies to acquire and gain iPSC expertise due to its inherent benefits and potential revenue streams associated with it are some of the factors favoring the market growth.
Regenerative medicine is also a lucrative market segment of the iPSC industry and is bound to grow at a significant growth rate over the forecast period. A major challenge in the field of tissue engineering is identifying novel cellular technologies that accurately mimic and reflect human physiology. The evolution of scaffold technology to address this challenge is observed to have a great success rate in recent years and is expected to drive the iPSC market for regenerative medicine with assured growth over the forecast period.
North America emerged as the largest market in 2020 and this trend is expected to continue till the end of the forecast period. A strong presence of key industry participants in the region coupled with huge private and government funding to research institutions is a key driver for this scenario. Moreover, the presence of a solid infrastructure both for R&D and application scenarios such as tissue engineering, toxicity screening, among others is benefitting the market growth. It is anticipated that the region will continue its dominance till 2028.
The Asia Pacific is expected to witness the highest growth rate in comparison to other regional markets. Strong market growth in countries such as Japan and China, coupled with rising interest in regenerative medicine in the region is expected to fuel market growth. Though there does not exist a well-defined legislative structure pertaining to the iPSC industry, regional governments are taking concentrated efforts to rectify the same and these efforts are expected to aid market growth over the next eight years.
Companies are focusing on novel application areas such as phenotypic screening in order to identify new mechanisms of diseases and this has greatly spiked interest in iPSCs. The development of sophisticated infrastructure and platforms with an aim to industrialize proprietary iPSC-based applications is a key industry trend. Collaboration of private participants with research institutes such as the Harvard Stem Cell Institute is also a major defining trend.
Companies such as Thermo Fisher Scientific Inc., FUJIFILM Holdings Corporation (Cellular Dynamics), Takara Bio Inc, Astellas Pharma Inc., Fate Therapeutics, Axol Bioscience Ltd., Cynata Therapeutics Limited, Ncardia, REPROCELL USA, Inc., ViaCyte, Inc., are some of the key players operating in the iPSC market.
Market size value in 2020
USD 1,491.8 million
Revenue forecast in 2028
USD 2,893.3 million
9.3% from 2021 - 2028
2017 - 2019
2021 - 2028
Revenue in USD million/billion and CAGR from 2021 to 2028
By Derived Cell, By Application, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Thermo Fisher Scientific Inc., FUJIFILM Holdings Corporation (Cellular Dynamics), Takara Bio Inc, Astellas Pharma Inc., Fate Therapeutics, Axol Bioscience Ltd., Cynata Therapeutics Limited, Ncardia, REPROCELL USA, Inc., ViaCyte, Inc.