Human Platelet Lysate Market is expected to grow at 3.7% CAGR over the forecast period of 2018-2026.
According to a new study published by Persistence Market Research (PMR), the global human platelet lysate market is estimated to be valued at US$ 45.8 Mn in 2018 and is expected to expand at a CAGR of 3.6% over 2018–2026, to reach US$ 61.0 Mn by 2026 end. Based on Application, the Clinical Use segment clearly dominates the global Human Platelet Lysate market, with over 93.5% value share in 2017. This segment is expected to grow at 3.7% CAGR over the forecast period of 2018-2026.
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Increased emphasis on funding and rise in research centers, product innovation, clinical and staff efficiency, government regulations and user acceptance are the major driving factors fueling the growth of the human platelet lysate market during the forecast period. Growing awareness levels of blood donation and adoption of advanced blood collection and processing technology in emerging countries is also expected to boost the human platelet lysate market. In addition, a large donated blood pool in most of the developed countries is expected to fuel the demand for human platelet lysate (HPL) products over the forecast period. HPL are a convenient alternative to Fetal Bovine Serum (FBS) as an in-vitro cell culture growth supplement and are likely to be adopted extensively in the near future for various therapeutic applications. Moreover, human platelet lysate has emerged as a boom for cell manufacturing in cell- based therapeutics. Further, the rising demand for animal free serum media is anticipated to boost revenue growth of the Human Platelet Lysate market during the forecast period.
The global human platelet lysate market has been segmented on the basis of product, application, end user and region. Globally, Heparin-free Platelet Lysate and Platelet Lysate with Heparin both show lucrative market attractiveness. The Heparin-free Platelet Lysate segment is expected to be slightly more lucrative and is estimated to contribute 50.8% value share in the global human platelet lysate market during the forecast period. Among all end users of Human Platelet Lysate products, research and academic institutes are expected to be the most lucrative, given the increasing acceptance of Human Platelet Lysate products by the research fraternity. With nearly 37.7% market share, North America dominated the global Human Platelet Lysate market in 2017, partly due to increasing research and development activities, particularly stem cell and biopharmaceuticals especially in the United States.
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Key Research Findings
- Funding for Life Science research and investments in this area serves to expand various projects undertaken and personnel employed. Sources of R&D spending include governments, private funding or commercial organizations
- Academic research institutes have focused on advanced research, including applied research when government or industrial organizations prefer cost-effective ways to pursue development programs. A majority of basic research continues to be carried out at academia as companies focus on bringing products to the market with an eye towards generating profits
- Matured markets of North America and Europe collectively held 67.5% value share in the global Human Platelet Lysate market in 2017
- Individual share of the regional market in Europe is expected to decline over time, partly due to the economic downturn in the European Union. However, revenue from the matured markets in the EU will continue to grow with a collective growth share of 69.5% over the forecast period
- In several countries, Human Platelet Lysate products such Heparin-free Platelet Lysate and Platelet Lysate with Heparin are dispensed through direct sales channels to research and academic institutes, cell therapy providers, and biopharmaceutical companies. Research and academic institutes dominated the global market for Human Platelet Lysate in 2017 and are expected to gain market share during the forecast period