New York, May 04, 2020 (GLOBE NEWSWIRE) -- The global Stem Cells market is forecast to reach USD 17.78 Billion by 2027, according to a new report by Reports and Data. The market for stem cell is witnessing an increased growth owing to the increased number of clinical trials across the globe. Stem cells are used in regenerative medicine, especially in the field of dermatology. However, the stem cell applications in oncology will witness higher growth due to a large number of pipeline projects present for the treatment of cancer or tumors.
Stem cell banking is gaining significance with the initiatives from the government. The number of stem cell banks is increasing in developing nations, which is further driving the market growth. Also, increasing awareness regarding the storage of stem cells has had a positive effect on the market. The market is still at a nascent stage, but it holds potential in both therapeutic and diagnosis fields.
Development of advanced genomic analysis technique, introduction of effective guidelines for cell therapy manufacturing, huge amount of research by cancer societies and proven effectiveness of transplants are some of the primary growth stimulants for the market. Certain manufacturing and pharmacological issues and regulatory hurdles are hindering the growth of the market.
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The COVID-19 impact:
The market will witness a huge surge as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A significant number of biotech firms are in the middle of the race to investigate the virus's genome and are preparing a viable vaccine. These companies are investigating the virus at an unprecedented rate, and considerable funds are being put into the research. The companies are in trial, and the public and private sectors are working continuously for the development of the vaccine.
Further key findings from the report suggest
- Allogenic Stem Cell Therapy held the largest market share. The market has an advantage as they produce their own immune stem cells, which has the potential to kill cancer cells that remain after high-dose treatment with cytotoxic drugs. Allogenic transplant is recommended for patients with a high risk of relapse after successive treatment of chemotherapy. An increase in the case of cancer relapse has fueled the demand for the segment.
- Successful clinical and commercial applications of stem cells require practical and robust cryopreservation protocols. Stem cells are notoriously sensitive to cryopreservation, which required specialized protocols to maintain the optimal cell viability and recovery.
- Induced pluripotent stem cells (iPSCs) procedure is used for the generation of a human organ for transplantation. This approach allowed different cells to self-organize into a complex organ and perform regular functions, including producing liver-specific proteins and metabolizing drugs. This method can reduce animal use in research by up to 50,000, as cells from one mouse can be used to treat 1,000 drug compounds for the treatment of liver diseases.
- The development of cutting-edge orthopedic treatments involve stem cell therapy which helps in pain relief and recovery time, it increases mobility and eliminates the need for medication and invasive surgery such as joint replacements. Regenerative medicine is forecasted to grow with a CAGR of 8.5% during the forecast period.
- North America is expected to account for a significant share of the global stem cell market. United States will be the primary contributor and is likely to witness high growth due to huge amount of funding by the government and private firms for clinical trials.
- Key participants include Celgene Corporation, Virgin Health Bank, ReNeuron Group plc, Biovault Family, Mesoblast Ltd., Precious Cells International Ltd., Caladrius, Opexa Therapeutics, Inc., Neuralstem, Inc., and Pluristem, among others.
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For the purpose of this report, Reports and Data have segmented into the global Stem Cells market on the basis of product, technology, therapies, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Adult stem cells
- Neuronal stem cells
- Mesenchymal stem cells
- Hematopoietic stem cells
- Umbilical cord stem cells
- Adiposeâ€derived stem cells
- Dental stem cells
- Dedifferentiated fat (DFAT) cells
- Other adult-derived stem cells
- Human embryonic stem cells
- IPS cells
- Very small embryonic like stem cells
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Cell acquisition
- Umbilical cord blood
- Bone marrow harvest
- Apheresis
- Cell Production
- Therapeutic cloning
- Cell culture
- In-vitro Fertilization
- Isolation
- Cryopreservation
- Expansion and sub-culture
Therapy Outlook (Revenue, USD Billion; 2017-2027)
- Allogenic Stem Cell Therapy
- Autologous Stem Cell Therapy
Application Outlook (Revenue, USD Billion; 2017-2027)
- Regenerative medicine
- Orthopedics
- Neurology
- Hematology stem cells
- Soft tissue injuries
- Cardiovascular and myocardial infarction-based
- Diabetes
- Oncology
- Liver disorder
- Others
- Drug discovery & development
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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