Pune, India, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Fortune Business Insights has published latest forecast for stem cells market in their report titled, “Stem Cells Market Forecast, 2021-2028”. As per the report, the global market size was USD 10.56 billion in 2020 and projected to grow from USD 11.90 billion in 2021 to USD 27.65 billion in 2028 at a CAGR of 12.8% in the forecast period, 2021-2028. The growing demand for advanced therapeutic cellular therapies is expected to drive the adoption of the product globally.
Industry Development:
- January 2021 – Thermo Fisher Scientific. Announced the development of a new medium for the expansion and development of human T-Lymphocytes for developers of cell therapy using the allogenic workflow. Gibco CTS OpTmizer Pro Serum Free Media solution targets healthy donor cells metabolism.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 12.8% |
| 2028 Value Projection | USD 27.65 billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 11.90 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 135 |
DRIVING FACTORS
Increasing Demand for Advanced Therapeutic Therapies to Promote Growth
The increasing demand for advanced therapeutic therapies has propelled the need for innovation and development across the healthcare sector. Major companies in the market are focusing on collaborations and partnerships to boost their R&D activities and further drive the sales of the product. For instance, in June 2019, Evotec announced its collaboration with Celgene Corporation to expand its iPSCs technology for the development and introduction of novel treatment options for neurodegenerative diseases. The increasing demand for advanced products has led the companies to come together and develop novel therapies that are likely to favor the global stem cells market growth during the forecast period.
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Market Segmentation:
On the basis of product type, the market is segregated into embryonic, mesenchymal, adult stem cells, and induced pluripotent stem cells. Furthermore, on the basis of application, the market is bifurcated into research and clinical applications. Based on the end-user, the market is classified into hospitals, pharmaceuticals & biotechnology companies, academic & research institutes, and others. Finally, based on region, the Stem Cells Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
| Segmentation of Stem Cells Market | By Cell Type
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By Application
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By End-User
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What does the Report Provide?
The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive Stem Cells Market growth in the forthcoming years.
Further Report Findings:
- North America stood at USD 5.66 billion in 2020 and is expected to hold the highest position in the market in the forthcoming years. This is due to the increasing number of launches of advanced therapies in countries such as the U.S. in the region. For instance, in January 2020, the New York Stem Cell Foundation (NYSCF) Research Institute partnered Cytovia Therapeutics Inc. to develop advanced NK cell therapy by adopting induced pluripotent stem cells (iPSCs).
- On the other hand, Europe is anticipated to hold the second position in the market during the foreseeable years. This is ascribable to factors such as the growing demand for novel therapies to treat chronic ailments across the healthcare setting between 2021 and 2028.
- Based on end-user, the pharmaceuticals & biotechnology companies segment is expected to hold the largest global stem cells market share in the forthcoming years. This is attributable to the rising investment in R&D activities to launch novel drugs and therapies worldwide.
COMPETITIVE LANDSCAPE
Key Players Focus on Partnerships to Amplify Their Market Positions
The market comprises small, medium, and large companies striving to maintain their presence and stronghold. The companies are focusing on partnerships to expand their product portfolio and further boost sales revenue. For instance, in November 2020 Mesoblast Ltd announced its partnership with Novartis for developing, manufacturing, and commercializing its mesenchymal stromal cell product. Other key players are focusing on organic and inorganic growth strategies to gain a major chunk of the market share and further have a competitive edge over their rivals.
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List of the Companies Profiled in the Global Market:
- Thermo Fisher Scientific (Massachusetts, U.S)
- Merck KGaA (Germany, Europe)
- Mesoblast Ltd (Melbourne, Australia)
- STEMCELL Technologies Inc. (Vancouver, Canada)
- Promethera Biosciences SA (Belgium, Europe)
- Cynata Therapeutics (Victoria, Australia)
- R&D Systems, Inc. (Minnesota, U.S)
- AMSBIO (Abingdon, United Kingdom)
- Other Prominent Players
Detailed Table of Content:
- Global Stem Cells Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cell Type
- Embryonic Stem Cells (ESCs)
- Mesenchymal Stem Cells (MSCs)
- Adult Stem Cells
- Induced Pluripotent Stem Cells (iPSCs)
- Market Analysis, Insights and Forecast – By Application
- Research Applications
- Clinical Applications
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Academic & Research Institutes
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Stem Cells Market Analysis, Insights and Forecast, 2017-2028
- Market Analysis, Insights and Forecast – By Cell Type
- Embryonic Stem Cells (ESCs)
- Mesenchymal Stem Cells (MSCs)
- Adult Stem Cells
- Induced Pluripotent Stem Cells (iPSCs)
- Market Analysis, Insights and Forecast – By Application
- Research Applications
- Clinical Applications
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Academic & Research Institutes
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S. (By Application)
- Canada (By Application)
- Market Analysis, Insights and Forecast – By Cell Type
- Europe Stem Cells Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cell Type
- Embryonic Stem Cells (ESCs)
- Mesenchymal Stem Cells (MSCs)
- Adult Stem Cells
- Induced Pluripotent Stem Cells (iPSCs)
- Market Analysis, Insights and Forecast – By Application
- Research Applications
- Clinical Applications
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Academic & Research Institutes
- Others
- Market Analysis, Insights and Forecast – By Country/Sub-region
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Spain (By Application)
- Italy (By Application)
- Scandinavia (By Application)
- Rest of Europe (By Application)
- Asia Pacific Stem Cells Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cell Type
- Embryonic Stem Cells (ESCs)
- Mesenchymal Stem Cells (MSCs)
- Adult Stem Cells
- Induced Pluripotent Stem Cells (iPSCs)
- Market Analysis, Insights and Forecast – By Application
- Research Applications
- Clinical Applications
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Academic & Research Institutes
- Others
- Market Analysis, Insights and Forecast – By Country/Sub-region
- Japan (By Application)
- China (By Application)
- India (By Application)
- Australia (By Application)
- Southeast Asia (By Application)
- Rest of Asia Pacific (By Application)
- Latin America Stem Cells Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cell Type
- Market Analysis, Insights and Forecast – By Application
- Market Analysis, Insights and Forecast – By End User
- Market Analysis, Insights and Forecast – By Country/Sub-region
TOC Continued…..
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