Induced Pluripotent Stem Cells Production Market registering a CAGR of 8.0% over the forecast period
Induced Pluripotent Stem Cells Production Industry Overview The induced pluripotent stem cells production market was valued at USD 948.29 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2021 to 2028. Induced pluripotent stem cells have several advantages over Embryonic Stem Cells (ESCs), such as avoiding the stem cell-associated ethical implications and maximum flexibility in cell-based research applications. These advantages have offered induced pluripotent stem cells (iPSCs) significant momentum in recent years, creating a favorable market for entities operating in the market. The robust pipeline for iPSC-derived cell therapeutics coupled with emerging applications of iPSCs is anticipated to accelerate the market growth. As of 2021, the total number of iPSC clinical trials has risen to 54. For instance, Allele Biotechnology & Pharmaceuticals is developing a diabetics drug from iPSC-derived pancreatic beta cells. ...