As cited by the research report titled ‘Global Induced Pluripotent Stem Cells Production Market Size study, by Derived Cell Type (Hepatocytes, Fibroblasts, Keratinocytes, Amniotic Cells and Others), By Application (Academic Research, Drug Development And Discovery, Toxicity Screening, Regenerative Medicine), By End-User (Hospitals, Research Laboratories) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global induced pluripotent stem cells production (iPSCs) market was worth USD 0.5 billion in 2020 and is projected to grow with a CAGR of 8.0% during the study period, eventually accumulating USD 1.60  billion by the year 2027.
 

Implementation of iPSCs in drug sector and high application of the technology in treating different diseases & injuries are the major factors driving global induced pluripotent stem cells production market growth. Moreover, there has been an upsurge in demand for iPSCs owing to increasing requirement for reproducible large-scale stem cell and differentiated progeny production, with minimum variation.
 

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For the record, induced pluripotent stem cells (iPSC) are pluripotent stem cells generated from skin or blood cells that are genetically reprogrammed into an embryonic stem cell-like state, further enabling to produce an infinite source of all forms of human cell that are required for therapeutic reasons.
 

Favorable government initiatives, significant expenditure in R&D activities, availability of advanced research facilities and trained personnel, and encouraging policies related to cell treatments are positively swaying the industry dynamics.
 

In February 2021, Evotec SE entered a partnership with the Medical Center Hamburg-Eppendorf for the development of a highly innovative iPSC- based cell therapy for the treatment of heart failure.
 

Similarly, Axol Bioscience Ltd. and Censo Biotechnologies entered into an agreement in March 2021, to become a prominent provider of product and service solutions in the iPSC-based neuroscience, immune cell, and cardiac modeling for drug discovery.
 

On the downside, high cost associated with the reprograming of cells is likely to hamper the market progression over the estimated timeline.
 

Based on derived cell type, global induced pluripotent stem cells production industry is segmented into hepatocytes, keratinocytes, fibroblasts, amniotic cells, and others. Considering application range, the marketplace is categorized into academic research, toxicity screening, drug development and discovery, and regenerative medicine. While the end user ambit includes, hospitals, and research laboratories.
 

On the geographical front, North America is expected to capture significant market share over the projected timeframe, on account of growing awareness regarding the benefits of iPSC and rising demand for high throughput analysis for drug toxicity.
 

Meanwhile, Asia Pacific market is anticipated to exhibit substantial growth rate over the estimated timeline of 2021-2027, owing to expanding R&D projects across countries like Japan, Australia, and Singapore.
 

Prominent players swaying global induced pluripotent stem cells production industry trends are Applied StemCell Inc., StemCellFactory III, Thermo Fisher Scientific Inc., Fate Therapeutics Inc., ReproCELL Inc., Merck Group, Hitachi Ltd. Evotec SE, Axol Bioscience Ltd., and Lonza Group.