Global induced pluripotent market is expected to rise to an estimated value of USD 2.33 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing prevalence of chronic diseases and ailments requiring the development of modern technologically advanced therapeutic options.
Induced pluripotent are a specialized form of stem cells that are extracted from either skin or blood cells, and are then modified into the pluripotent form which gives them the capability of being used for the treatment where any different kind of human cells are required. In the pluripotent form, they can be modified to any kind of cell form that is utilized for the treatment of different diseases/disorders.
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Competitive Analysis: Global Induced Pluripotent Market
Global induced pluripotent market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of induced pluripotent market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Induced Pluripotent Market
Few of the major competitors currently working in the induced pluripotent market are Bristol-Myers Squibb Company; CELGENE CORPORATION; Astellas Pharma Inc.; Thermo Fisher Scientific; Cell Applications, Inc.; Axol Bioscience Ltd.; Organogenesis Holdings; Merck KGaA; FUJIFILM Holdings Corporation; Fate Therapeutics; KCI Licensing, Inc.; Japan Tissue Engineering Co., Ltd.; Vericel; ViaCyte, Inc.; STEMCELL Technologies Inc.; Horizon Discovery Group plc; Lonza; Takara Bio Inc.; Promega Corporation and QIAGEN.
Market Segmentation: Global Induced Pluripotent Market
Rise in the expenditure incurred by various private and government sources on R&D is expected to drive the growth of the market
High levels of understanding and awareness regarding the composition of the iPSC (Induced Pluripotent Stem Cell) has resulted in a rise of demand of the product from various end-users; this factor is expected to drive the growth of the market
Utilization of these cells for the creation of customized tissues and helping in understanding of human development; this factor is expected to drive the growth of the market
Complications and large costs associated with the development and manufacturing of these products are expected to restrain the growth of the market
Chances of health risks due to the acceptance of these products in the recipient’s body along with lack of efficiency in the process are factors restraining the growth of the market
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