The global stem cell manufacturing market is projected to reach USD 14.61 billion by 2023 from 10.75 billion in 2018, at a CAGR of 6.3%. Factors such as growing public-private investments and funding in stem cell-based research, rising public awareness regarding about the therapeutic potency of stem cell products, development of advanced genomic analysis techniques for quality control during stem cell manufacturing, technological advancements in stem cell manufacturing and preservation, and evolving regulatory frameworks for stem cell therapeutics in the US and Europe are driving the growth of the stem cell manufacturing market. However, the significant operational costs associated with stem cell manufacturing and banking are expected to restrain the market to a certain extent.
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Analysis of the market developments between 2014 and 2017 reveals that several growth strategies such as new product launches, upgrades, and approvals; agreements, partnerships, and collaborations; acquisitions & mergers; and expansions were adopted by market players to expand their product offerings and maintain a competitive position in the stem cell manufacturing market. Among these business strategies, new product launches, upgrades, approvals, agreements, partnerships, and collaborations were the most widely adopted growth strategies by players in the market.
Thermo Fisher Scientific (US) held the leading position in the global stem cell manufacturing market in 2016. The company offers a broad portfolio of stem cell manufacturing products. It has a strong geographic presence in over 50 countries across the world. Thermo Fisher focuses on organic growth strategies such as product launches, approvals, and upgradations. It has launched many innovative stem cell products in the last three years. Furthermore, Thermo Fisher Scientific is also focusing on acquisitions as a major strategy to strengthen its position in the stem cell manufacturing market. For example, the company acquired MTI-GlobalStem, Affymetrix, and Life Technologies Corporation to enhance its presence in the market.
Merck Group (Germany) secured the second position in the global stem cell manufacturing market in 2016. The company offers instruments and consumables for stem cell manufacturing and has a significant geographic presence across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The company adopts organic growth strategies such as product launches and expansions to maintain its position in the global stem cell manufacturing market. The company invests a significant amount of its revenue in the research and development of technologically advanced products. For instance, the company invested 13.2% (USD 2.18 billion) of its total revenue for research and development in the fiscal year 2016.
Download FREE Brochure:
https://www.marketsandmarkets.com/pdfdownload.asp?id=70743403
Analysis of the market developments between 2014 and 2017 reveals that several growth strategies such as new product launches, upgrades, and approvals; agreements, partnerships, and collaborations; acquisitions & mergers; and expansions were adopted by market players to expand their product offerings and maintain a competitive position in the stem cell manufacturing market. Among these business strategies, new product launches, upgrades, approvals, agreements, partnerships, and collaborations were the most widely adopted growth strategies by players in the market.
Thermo Fisher Scientific (US) held the leading position in the global stem cell manufacturing market in 2016. The company offers a broad portfolio of stem cell manufacturing products. It has a strong geographic presence in over 50 countries across the world. Thermo Fisher focuses on organic growth strategies such as product launches, approvals, and upgradations. It has launched many innovative stem cell products in the last three years. Furthermore, Thermo Fisher Scientific is also focusing on acquisitions as a major strategy to strengthen its position in the stem cell manufacturing market. For example, the company acquired MTI-GlobalStem, Affymetrix, and Life Technologies Corporation to enhance its presence in the market.
Merck Group (Germany) secured the second position in the global stem cell manufacturing market in 2016. The company offers instruments and consumables for stem cell manufacturing and has a significant geographic presence across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The company adopts organic growth strategies such as product launches and expansions to maintain its position in the global stem cell manufacturing market. The company invests a significant amount of its revenue in the research and development of technologically advanced products. For instance, the company invested 13.2% (USD 2.18 billion) of its total revenue for research and development in the fiscal year 2016.
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