The global stem cell therapy market size was valued at USD 8.8 billion in 2020 and is estimated to expand at a CAGR of 10.5% during the forecast period, 2021–2028. The growth of the market is attributed to consistent government funding and initiatives for regenerative medicine research and development activities in industrialized economies.
Stem cell therapy is a non-invasive procedure for repairing or replacing damaged or diseased tissues and cells. It is a type of regenerative medicine that employs the utilization of stem cells to cure a variety of ailments. These stem cells have the ability to self-replicate and heal other damaged cells and tissues in the body. Stem cell treatment received a lot of attention recently, due to increased occurrence of numerous chronic ailments and uncommon genetic diseases throughout the world. Induced pluripotent stem cells (iPSCs) are adult stem cells that have been genetically reprogrammed to mimic embryonic stem cells (ESCs). iPSCs are comparable to ESCs in that they can develop into specialized tissue cells based on gene expression, making them a viable alternative to ESCs. ESCs are involved with legislation and socio-ethical concerns relating to contraception, abortion, and in vitro fertilization, as it is derived from early-stage embryos. The use of iPSCs avoids the use of human embryos, eliminating social and ethical concerns.
The impact of the global spread of COVID-19 infection on the sector was minimal. Across various regions, several research institutes and government agencies were concentrating on speedy and effective technologies for the treatment of life-threatening illnesses, including COVID-19. In addition, various clinical trials in the field of regenerative medicine were undertaken. However, it is still in the early stages of research in comparison to the single umbilical cord stem cell market.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing government initiatives for stem cell therapy in developed and developing countries is expected to drive market.
- Rising awareness regarding accessibility of stem cell therapy is anticipated to propel the market.
- Advancements in regenerative medicine in North America & Europe are projected to boost the market during the forecast period.
- Ethical issues associated with stem cell therapy are expected to hinder the market growth in the coming years.
- High-cost issues associated with stem cell therapy are anticipated to hamper the market growth during the forecast period.
- Increasing investments in research, clinical trials, and emergence of iPSCs as an alternative to ESCs creates lucrative opportunities for the market players.
Scope of the Report
The report on the global stem cell therapy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Stem Cell Therapy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Therapeutic Area (Cardiovascular, Neurology, Oncology, and Orthopedic), Types (Autologous Stem Cell Therapy and Allogenic Stem Cell Therapy), and End-users (Clinics and Hospitals)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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PHARMICELL Co., Ltd.; JCR Pharmaceuticals Co., Ltd.; NuVasive, Inc.; Smith & Nephew; MEDIPOST Co., Ltd.; and Anterogen Co., Ltd.
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Market Segment Insights
Oncology segment to expand at a considerable CAGR
On the basis of therapeutic area, the market is segmented into cardiovascular, neurology, oncology, and orthopedic. The oncology segment is projected to expand at a considerable CAGR during the forecast period due to increasing occurrence of cancer cases and effectiveness of stem cell therapy in treatment of cancer. The neurology segment is anticipated to account for a major market share during the forecast period, owing to the increasing prevalence of neurological disorders and high cost of therapy.
Allogenic Stem Cell Therapy segment to hold a significant share of the market
In terms of types, the market is divided into autologous stem cell therapy and allogenic stem cell therapy. The allogenic stem cell therapy segment is expected to hold a significant share of the market in the coming years, due to ease of production and manufacturing processes and the increasing availability of novel stem cell products. The autologous stem cell therapy segment accounts for a significant market share, as it provides high compatibility with human immune system, as the patients are their own donors of stem cells.
Hospitals segment to expand at a high rate during the forecast period
Based on end-users, the market is bifurcated into clinics and hospitals. The hospitals segment is expected to expand at a high rate during the forecast period, owing to the growing demand for stem cell treatments in hospitals to minimize difficulties caused by intrusive approaches such as surgical procedures. The clinics segment is expected to be grow rapidly during the forecast period, due to advancements in regenerative medicine.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period. Favorable government actions are responsible for significant regional growth. For example, the government of Canada and JDRF Canada announced a research grant of USD 6 million in November 2020 to speed up stem cell-based therapeutics for type 1 diabetes. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to growing prevalence of chronic diseases among people in the region.
Segments
The global market has been segmented on the basis of
Therapeutic Area
- Cardiovascular
- Neurology
- Oncology
- Orthopedic
Types
- Autologous Stem Cell Therapy
- Allogenic Stem Cell Therapy
End-users
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global market are PHARMICELL Co., Ltd.; JCR Pharmaceuticals Co., Ltd.; NuVasive, Inc.; Smith & Nephew; MEDIPOST Co., Ltd.; and Anterogen Co., Ltd.
The stem cell therapy market is extremely competitive, with a large number of big firms. Few big firms presently dominate the industry in terms of market share. Product breakthroughs and improvements in stem cell technologies by key market players are generating competition. Novadip Biosciences gained FDA clearance for its Investigational New Drug (IND) application for its autologous cell treatment product, NVD-003, in March 2021. Congenital Pseudarthrosis of the Tibia (CPT) is treated with this product. The company is expected to boost its market position by improving its product offerings and expanding its consumer base.
