Human Platelet Lysate Market To Witness High Growth Owing To Increasing Product Adoption In Regenerative Medicine And Cell Therapy
Human platelet lysate (HPL) has garnered significant importance in the recent years as a substitute for animal serum in the fields of cell therapy and regenerative medicine. HPL contains growth factors obtained from platelets that are essential for cell growth. It is devoid of the risks of animal-origin pathogens and immunogenic reactions. HPL is used as a supplement in cell culture media during the growth of various cell lines involved in therapeutic applications such as stem cells, mesenchymal cells, chondrocytes etc.
The global Human Platelet Lysate Market is estimated to be valued at US$ 53.0 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing product adoption in regenerative medicine and cell therapy has been a major driver for the growth of the human platelet lysate market. HPL has emerged as a preferred substitute for animal serum-based cell culture media owing to its inherent advantages such as non-immunogenicity and negligible risks of transfer of animal pathogens. Additionally, stringent regulations on the use of animal-derived components have further propelled the demand for HPL in research and therapeutic applications. The market is also witnessing increased demand due to rising funds for cell-based research. However, high product costs and lack of standardization in production processes are some factors expected to restrain the market to a certain extent over the forecast period.
SWOT Analysis
Strength: The human platelet lysate market possesses several strengths. Firstly, human platelet lysate acts as an alternative to fetal bovine serum, thus addressing concerns related to the use of animal-derived products. Secondly, it supports cell growth and differentiation, allowing more efficient cell manufacturing processes. Thirdly, it helps reduce production costs by eliminating the need for expensive growth factors in cell culture media.
Weakness: The human platelet lysate market faces some weaknesses. Firstly, it is subject to pricing pressures due to high production costs involved. Secondly, its supply is limited owing to constraints in the collection of thrombocytes from donated blood. Thirdly, it carries risks of transmittable pathogens from donated platelets.
Opportunity: The market presents various opportunities. Firstly, growing stem cell research & regenerative medicine offer huge scope for cell culture media including human platelet lysate. Secondly, increasing demand for therapeutic cells for treatment of chronic diseases will drive its adoption. Thirdly, investments in cell-based research by pharmaceutical companiesaugment market growth.
Threats: However, certain threats also loom large. Firstly, availability of substitutes like animal serum-free cell culture media can replace human platelet lysate. Secondly, stringent regulatory oversight on blood collection may affect supply.
Key Takeaways
The Global Human Platelet Lysate Market Demand sis expected to witness high growth over the forecast period. Regionally, North America is expected to dominate the market owing to early adoption and strong government funding for regenerative medicine research. Europe is also a major regional market supported by substantial biopharmaceutical research. Asia Pacific is anticipated to be the fastest growing market led by China, India and Japan due to increasing stem cell research and government initiatives.
Key players operating in the human platelet lysate market include STEMCELL Technologies Inc., Merck KGaA, Mill Creek Life Sciences, Merck & Co., Inc, AventaCell BioMedical, Compass Biomedical, Inc, Macopharma SA, Trinova Biochem GmbH, PL BioScience GmbH, Cook Regentec, Life Science Group Ltd., BBI Solutions, Regenexx, Thermo Fisher Scientific. STEMCELL Technologies Inc. and Merck KGaA currently have the largest market share.
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