The stem cell therapy market projected to reach US$ 6,206.89 million by 2028; registering at a CAGR of 18.2% from 2022 to 2028, according to a new research study conducted by The Insight partners
Adult Stem Cell Therapy Segment to Hold Major Market Share During 2022–2028
The report highlights trends and drivers prevailing in the market. Increasing research activities related to stem cell therapy for effective disease management and the growing prevalence of cancer are among the factors contributing to the surging stem cell therapy market size.
Lucrative Regions in Stem Cell Therapy Market
Stem Cell Therapy Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Adult Stem Cell Therapy, Embryonic Stem Cell Therapy, Induced Pluripotent Stem Cell Therapy, and Other Stem Cell Therapy), Treatment (Allogeneic and Autologous), Application (Musculoskeletal, Dermatology, Cardiology, Drug Discovery and Development, and Other Applications); End User (Hospitals & Specialty Clinics and Academic & Research Institutes), and Geography
Stem Cell Therapy Market Trends and Forecast by 2031
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Based on treatment, the stem cell therapy market is bifurcated into allogeneic and autologous. The allogenic segment held a larger market share in 2022. The autologous segment is expected to register a higher CAGR during the forecast period.
Based on application, the stem cell therapy market is categorized into musculoskeletal, dermatology, cardiology, drug discovery and development, and other applications. The musculoskeletal segment held the largest market share in 2022. The drug discovery and development segment is expected to register the highest CAGR during the forecast period.
Based on end user, the stem cell therapy market is segmented into academic & research institutes and hospitals & clinics. The hospitals segment held the larger market share in 2022, and it is expected to register the higher CAGR during the forecast period.
Based on geography, the stem cell therapy market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, the Netherlands, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, Thailand, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Increasing Research Activities Related to Stem Cell Therapy for Effective Disease Management Bolster Market Growth
Stem cell therapy has been widely investigated across the world. Stem cells are mainly used to replace dying cells and reconstruct damaged tissues. Based on the results of extensive stem cell research conducted so far, many scientists have claimed that these cells could probably be utilized to generate cures and treatments for diseases such as cancer and cardiovascular disease. Newly developed stem cell therapies involve replacing disease-causing cells with stem cells. Many potential treatments involving stem cells are in different phases of clinical trials. The FDA has also approved a few stem cell therapies involved in treating complications related to stem cell transplants. In September 2021, the US Food and Drug Administration (FDA) announced approval for "Ruxolitinib" for treating "graft-versus-host-disease" (GVHD) in patients aged 12 and above. Ruxolitinib provides a patient new hope that suffers from fatal complications associated with stem cell transplants.
Researchers are further investigating the use of stem cell therapy in treating autoimmune disorders. For example, stem cells can turn into the cells of damaged organs and are used in treating autoimmune diseases. Treatment is carried out using mesenchymal stem cells or fetal stem cells. Hematopoietic stem cells are currently used for treating more than 80 medical conditions, including immune system diseases, blood disorders, neurological disorders, metabolic disorders, genetic disorders, and cancer types such as leukemia and lymphoma.
Impact of COVID-19 Pandemic on Stem Cell Therapy Market
The COVID-19 pandemic had a positive impact on the stem cell therapy market. The application of stem cells in the treatment of COVID-19 infection has gathered the attention of medical researchers, resulting in a higher number of clinical trials. Regenerative medicine based on cellular therapies may be developed as a treatment option for patients, lowering infection rates and mortality. Research institutes and companies are collaborating to develop novel treatment options for COVID-19. For instance, in April 2020, Infectious Disease Research Institute and Celularity announced that the US FDA had approved a clinical trial application to develop cell-based therapy for COVID-19. Thus, researchers are increasingly attempting to develop stem cell therapies targeting COVID-19. In January 2020, researchers from the University of Miami administered two stem cell infusions to COVID-19 patients suffering from lung damage. The results concluded that there were no significant side effects, and the therapy was reliable. Thus, increasing demand for regenerative medicines has had a positive effect on the stem cell therapy market during the COVID-19 pandemic.
Major players in the stem cell therapy market include Medipost, NuVasive Inc., JCR Pharmaceuticals Co. Ltd., AlloSource, Holostem Terapie Avanzate S.R.L., Mesoblast Ltd., U.S. Stem Cell, Inc., Biotime, Inc., RichSource, Caladrius, and TiGenix NV (Takeda Pharmaceuticals).
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