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APAC Stem Cell Assay Market Research Report - Segmented By Assay Type, Kits, Application , End User & Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Analysis on Size, Share, Trends & Growth Forecast From 2023 to 2028

Published: March, 2023
ID: 3534
Pages: 137
Formats: report pdf report excel report power bi report ppt

APAC Stem Cell Assay Market Size (2023 to 2028)

The stem cell assay market size in the Asia-Pacific region was valued at USD 155.41 Million in 2022. The regional market is estimated to grow at a CAGR of 24.2% from 2023 to 2028 and be worth USD 570.4 million by 2028.

The growing prevalence of chronic diseases such as cardiovascular disease and cancer in the Asia-Pacific region is one of the key factors propelling the growth of the APAC stem cell assay market. Cardiovascular disease (CVDs) is a leading cause of death in Asia, with approximately 10.8 million reported deaths attributed to heart diseases. A large proportion of these cases occur among individuals aged 45 years and above. Stem cell therapies have shown promising results in improving cardiac function by reducing inflammation, inhibiting fibrotic remodeling and promoting angiogenesis. These advancements in stem cell research offer potential treatments for various illnesses, further fueling the growth of the stem cell assay market in Asia.

The growing number of cell transplant procedures in the Asia-Pacific region further boosts the growth rate of the APAC stem cell assay market. Stem cells are essential to produce new cells in the body and play a crucial role in maintaining overall health. However, insufficient production of new blood cells can lead to severe complications such as infections, anemia and bleeding. In such cases, individuals often opt for stem cell transplants to replace damaged cells in their bodies. To ensure the quality and safety of these stem cells, it is imperative to conduct stem cell assays that assess the presence of substances and toxicity. By performing these assays, healthcare professionals can effectively evaluate the suitability of stem cells for transplantation, enabling them to provide optimal patient care.

The growing number of advancements in stem cell research in the Asia-Pacific propel the growth rate of the APAC market. Ongoing research on stem cells has yielded significant insights into various applications, including the identification and understanding of congenital disabilities. This progress in research and development holds immense potential for the healthcare sector, as it paves the way for advancements in health improvement and medical research. Stem cells have demonstrated the ability to generate specialized cells for the treatment of diseases such as Alzheimer's disease, Parkinson's disease, spinal cord injury, diabetes and arthritis. Moreover, researchers have also explored the potential of stem cells in regenerative medicine, offering faster and more effective disease management options. Stem cell assays play a crucial role in facilitating a deeper understanding of these applications, making them an indispensable component of the market's growth rate.

The high cost of stem cell transplant procedures primarily hampers the growth of the APAC stem cell assay market. The significant expenses associated with stem cell therapies pose a challenge to widespread adoption, limiting access for patients in the region. Furthermore, the market is impeded by a lack of awareness regarding the potential of stem cell therapy among both patients and healthcare professionals. Insufficient knowledge about the benefits and applications of stem cells hinders their acceptance and utilization in medical treatments. Additionally, the scarcity of skilled professionals and the time-consuming process of manufacturing novel stem cell therapies further impede market growth. Moreover, the lack of adequate infrastructure for stem cell research and treatment facilities presents a challenge in delivering these advanced therapies effectively.

This research report on the Asia Pacific stem cell assay market has been segmented and sub-segmented into the following categories.

By Assay Type:

  • Cell Viability & Toxicity Assays
  • Purification Assays
  • Differentiation assays
  • Function assays
  • Identification assays
  • proliferation assays
  • cell apoptosis assays

By Kits:

  • Adult stem cell kits
  • Human embryonic stem cell kits

By Application:

  • Regenerative Medicine
  • Therapy development
  • Drug discovery and development
  • clinical research

By End User:

  • Research institutes
  • Industry research

By Country:

  • India
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Thailand
  • Malaysia
  • Vietnam
  • Philippines
  • Indonesia
  • Singapore
  • Rest of APAC

The Asia Pacific region is predicted to grow at the fastest CAGR among all the regions in the worldwide market during the forecast period and account for a notable share of the global market. China emerges as a prominent player in the APAC market and is expected to hold the leading share of the APAC market during the forecast period. The growing number of clinical centers across China facilitating the widespread adoption of stem cell therapies majorly drives the Chinese market growth. Researchers in China have made notable advancements in applying stem cell treatments for conditions such as acute liver failure and lower limb ischemia. Furthermore, the availability of stem cell therapy in numerous hospitals throughout China contributes to the robust growth of the market. The growing investments by key players, the approval of advanced therapies, and a notable increase in healthcare expenditure by the population further boost the Chinese market growth. The government of China has proactively initiated initiatives to foster the development of stem cell therapy for diverse disease indications, generating substantial demand for stem cell assay services.

Similarly, Japan also plays a pivotal role in the market's growth trajectory. The presence of multiple research centers and an aging population contribute to the expansion of the stem cell assay market in the country. Notably, Japanese universities have achieved remarkable success in the transplantation of stem cell therapies for spinal cord injuries, further underscoring the country's contribution to advancements in this field.

KEY MARKET PLAYERS

Companies dominating the APAC stem cell assay market profiled in the report are Thermo Fisher Scientific Inc., Bio-Techne Corporation, Stem cell Technologies Inc., Merck KGaA, Promega Corporation, GE Healthcare, Bio-Rad Laboratories, Inc., Cellular Dynamics International Inc., Hemogenix, and Cell Biolabs Inc.

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