The stem cell therapy market size is projected to reach US$ 8.9 billion by 2031 from US$ 3.5 billion in 2023. The market is expected to register a CAGR of 8.7% during 2023–2031. Research activities and product innovations are likely to remain key trends in the market.
Stem Cell Therapy Market Analysis
Research activities and product innovations are likely to remain key trends in the market. A report by EuroGCT reveals that blood stem cell transplant proves effective to treat blood cancer types such as leukaemia, lymphoma, and myeloma; myelodysplastic syndrome; and myeloproliferative disorders. Additionally, blood stem cell transplants clinically proven to treat Severe Combined Immunodeficiency (SCID) by replacing faulty immune cells with healthy donor cells. Therefore, research activities and product innovation is an influential factor responsible to account considerable market growth during 2021-2031.
Stem Cell Therapy Market Overview
Increasing funding or investment will enhance stem cell research. In 2023, the Hong Kong-based Lee Shau Kee Foundation to the University's Institute for Regeneration and Repair (IRR) received US$ 10.82 million to boost the University's stem cell research and tissue engineering. The fund will support the international collaboration program in stem cell biology that will help the IRR work to address diseases such as chronic organ dysfunction, trauma, and congenital and genetic conditions. Therefore, rising funding or investment will accelerate demand for stem cell therapy in the coming decade.
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Stem Cell Therapy Market: Strategic Insights
Market Size Value in US$ 2,278.49 million in 2022 Market Size Value by US$ 6,206.89 million by 2028 Growth rate CAGR of 18.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Stem Cell Therapy Market: Strategic Insights
| Market Size Value in | US$ 2,278.49 million in 2022 |
| Market Size Value by | US$ 6,206.89 million by 2028 |
| Growth rate | CAGR of 18.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Stem Cell Therapy Market Drivers and Opportunities
Increasing Research Activities Related to Stem Cell Therapy for Effective Disease Management to Favor Market
Stem cell therapy has been widely investigated globally as stem cells are mainly used to replace dying cells and reconstruct damaged tissues. Based on the clinical results by the scientists conducted targeting stem cell, claims that these cells could probably be utilized to generate specific treatments for several diseases such as cancer and cardiovascular disease. Additionally, developed stem cell therapies involve replacing disease-causing cells with stem cells. Researchers are further investigating the use of stem cell therapy to treat autoimmune disorders. Therefore, increasing research activities related to stem cell therapy for effective disease management is one of the major drivers for global stem cell therapy market share.
Use of Induced Pluripotent Stem Cells in Regenerative Medicines Provide Lucrative Market Opportunity
According to the Frontiers Media S.A. 2023 report, progress in the field of induced pluripotent stem cells (iPSCs) has opened new channel for research in therapeutics. iPSCs are mainly intended for research and clinical studies for disease modelling, regenerative medicine, and drug discovery/drug cytotoxicity studies. For example, iPSCs can be used to convert differentiated somatic cells to multipotent stem cells to generate different cell types of adult tissues. Therefore, iPSCs have shown promising results in regenerative medicine, particularly for replacing diseased or injured cells. Therefore, studies such as drug discovery involving screening of small molecules and toxicity testing for safety assessment have been successfully disclosed positive iPSCs-based results is likely to create lucrative opportunities for the stem cell therapy market players in the coming years.
Stem Cell Therapy Market Report Segmentation Analysis
Key segments that contributed to the derivation of the stem cell therapy market analysis are type, treatment, application, and end user.
- Based on type, the stem cell therapy market is segmented as adult stem cell therapy, embryonic stem cell therapy, induced pluripotent stem cell therapy, and other stem cell therapy. The adult stem cell therapy segment held a larger market share in 2023.
- By treatment, the market is bifurcated into allogeneic and autologous. The allogeneic segment held the largest share of the market in 2023.
- By application, the market is segmented into musculoskeletal, dermatology, cardiology, drug discovery and development, and other applications. The drug discovery and development segment held the largest share of the market in 2023.
- By end user, the market is segmented into hospitals & specialty clinics and academic & research institutes. The academic & research institutes segment held the largest share of the market in 2023.
Stem Cell Therapy Market Share Analysis by Geography
The geographic scope of the Stem Cell Therapy market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. In North America region, the US accounts largest share for stem cell therapy market. Presence of top manufacturers in the region and high research and development (R&D) activities are the factors contributing to the dominance of the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Stem Cell Therapy Market Report Scope
Stem Cell Therapy Market News and Recent Developments
The Stem Cell Therapy market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the stem cell therapy market are listed below:
- Allogene Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to “ALLO-605”. The newly granted product is the company’s next-generation AlloCAR T therapy for the treatment of relapsed or refractory multiple myeloma. The FDA granted Fast Track designation based on the potential of ALLO-605 to address the unmet need for patients who have failed other standard multiple myeloma therapies. (Source: Allogene Therapeutics, Inc., Company Website, June 2021)
Stem Cell Therapy Market Report Coverage and Deliverables
The “Stem Cell Therapy Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Stem cell therapy market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Stem cell therapy market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Stem cell therapy market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Stem Cell Therapy market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Treatment, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the stem cell therapy market in 2023.
Increasing research activities related to stem cell therapy for effective disease management to favor market is one of the most influential factors responsible for market growth.
Research activities and product innovation is likely to remain as a key trend for stem cell therapy market.
MEDIPOST, RichSource, BioTime, Inc., Mesoblast Limited, Holostem Terapie Avanzate Srl, US Stem Cell, Inc., TiGenix NV, AlloSource, NuVasive Inc, JCR Pharmaceuticals Co., Ltd. are the key players in the stem cell therapy market.
The estimated value of stem cell therapy market accounted US$ 8.9 billion in 2031.
The CAGR for stem cell therapy accounted 8.7% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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