Stem Cell Assay Market Growth Accelerated by Rising Prevalence of Chronic Diseases

Stem cell assays are used to study the proliferation, differentiation, and therapeutic potential of stem cells. The growing prevalence of chronic diseases such as cancer, neurological disorders, and cardiovascular diseases is fueling the demand for stem cell research and its application in developing new therapies. Stem cell assays help evaluate the safety and efficacy of novel stem cell therapies. The Global Stem Cell Assay Market Size is estimated to be valued at US$ 1159.49 Bn in 2024 and is expected to exhibit a CAGR of 32% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising prevalence of chronic diseases is one of the key factors driving the growth of the stem cell assay market. According to the World Health Organization (WHO), chronic diseases accounted for approximately 60% of all reported deaths in the world in 2020. Stem cell therapies offer potential treatment options for various chronic and degenerative conditions. As a result, stem cell research activities and clinical trials are on the rise globally. Stem cell assays play a vital role in evaluating stem cell potency and functionality to facilitate the development of safe and effective stem cell-based therapies. Thus, the growing research in stem cell therapies for chronic diseases is expected to propel the demand for stem cell assays over the forecast period.

Segment Analysis
The global stem cell assay market is dominated by the drug discovery and development segment. The segment contributes over 35% share owing to increasing R&D investments by pharmaceutical and biotechnology companies. Stem cell assays play a crucial role in drug testing as they allow analysis of potential drug effects on different stem cell types. The disease modeling segment is also growing at a steady rate due to wide applications of stem cell assays in modeling genetic diseases and testing disease specific drug toxicity.

Key Takeaways
The global stem cell assay market is expected to witness high growth over the forecast period.

Regional analysis: North America is expected to remain the largest regional market over the forecast period, growing at a CAGR of 27%. This can be attributed to presence of major pharmaceutical companies and stem cell research centers in the US and Canada. Strong government funding for stem cell research through organizations like NIH is also supporting market growth. Asia Pacific is poised to be the fastest growing region during the forecast period owing to rising stem cell therapy investments by countries like China, Japan, and India.

Key players operating in the stem cell assay market are Merck & Co. Inc, GlaxoSmithKline plc, Mapp Biopharmaceutical, Nanoviricides Inc., Bavarian Nordic, Chimerix, Biocomo, Geneone Life Sciences Inc, NewLink Genetics Corporation, Novavax Inc, Johnson & Johnson Private Limited, Arbutus Biopharma, Sarepta Therapeutics, Hemispherx Biopharma Inc, IMV Inc, Peptineo, Biocryst Pharmaceuticals Inc. Merck, GSK and Mapp Biopharmaceutical currently dominate the market owing to their established portfolios of stem cell-based therapies and drugs.

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