Chicago, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Stem Cell Therapy market in terms of revenue was estimated to be worth $286 million in 2023 and is poised to reach $615 million by 2028, growing at a CAGR of 16.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Increased adoption of stem cell therapies across the globe along with rise in FDA approved stem cell therapies are some the major factors anticipated to drive the growth of the market. Rise in number of clinical trial candidates in past few years is likely to give momentum to the stem cell therapy market growth during the forecast period.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=48
Stem Cell Therapy Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $286 Million |
| Estimated Value by 2028 | $615 Million |
| Growth Rate | Poised to grow at a CAGR of 16.5% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Cell Source, Type, Therapeutic Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, the Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | The emergence of iPSCs as an alternative to ESCs |
| Key Market Driver | Increased funding for stem cell research |
Based on type, the global stem cell therapy market is segmented into allogeneic and autologous stem cell therapy. The allogeneic segment accounted for the largest share of the market in 2022. Various advantages of allogenic stem cells such as convenient production and feasible for scaling up is one of the major factors uplifting the segmental market share. Additionally, allogeneic stem cell products provide an off-the-shelf treatment supply for several patients, owing to the production of multiple batches of therapeutic stem cells via single donation.
Based on source, the stem cell therapy market is segmented into adipose tissue-derived MSCs, bone marrow-derived MSCs, placental/umbilical cord-derived MSCs, and other cell sources. In 2022, adipose tissue-derived MSCs segment accounted for the dominant share of the market in 2022. The dominant share of this segment can be attributed to the increased demand for adipose-tissue in wound &surgical applications and inflammatory diseases.
Based on the therapeutic area, the stem cell therapy market is segmented into musculoskeletal disorders, wounds & surgeries, cardiovascular diseases, inflammatory & autoimmune diseases, neurological disorders, and other therapeutic applications. In 2022, musculoskeletal disorders accounted for the largest share of the stem cell therapy market. The rising prevalence of musculoskeletal disorders coupled with increasing approvals for novel stem cell therapy are some of the major factors projecting the market growth.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In 2022, North America accounted for a dominant share of the stem cell therapy market followed by Europe. The region held a dominant share due to increased funding for stem cell research coupled with increased FDA apporvals in US. In April 2023, US FDA approved Omisirge a is a nicotinamide modified allogeneic hematopoietic progenitor cell therapy derived from cord blood indicated for use in adults and pediatric patients 12 years and older with hematologic malignancies.
Buy a Stem Cell Therapy Industry Report (203 Pages PDF with Insightful Charts, Tables, and Figures): https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=48
Stem Cell Therapy market major players covered in the report, such as:
- Smith+Nephew (UK)
- MEDIPOST Co., Ltd. (South Korea)
- Anterogen Co., Ltd. (South Korea)
- CORESTEM (South Korea)
- Pharmicell Co., Ltd. (South Korea)
- NuVasive, Inc. (US)
- RTI Surgical (US)
- AlloSource (US)
- JCR Pharmaceuticals Co., Ltd. (Japan)
- Takeda Pharmaceutical Company Limited (Japan)
- Holostem Terapie Avanzate Srl (Italy)
- Orthofix (US)
- Regrow Biosciences Pvt Ltd. (India)
- and STEMPEUTICS RESEARCH PVT LTD. (India). Athersys (US)
- Mesoblast Ltd (Australia)
- Biorestorative Therapies, Inc. (US)
- Pluristem Inc. (Israel)
- Brainstorm Cell Limited. (US)
- ViaCyte, Inc. (US)
- Gamida Cell (US)
- Kangstem Biotech (South Korea)
- Hope Biosciences (US)
- Cellular Biomedicine Group (US)
- Personalized Stem Cells (US)
- and Among Others
Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=48
This report categorizes the Stem Cell Therapy market into the following segments:
Stem Cell Therapy Market, by Type
- Allogeneic Stem Cell Therapy
- Autologous Stem Cell Therapy
Stem Cell Therapy Market, by Cell Source
- Adipose tissue-derived MSCs (mesenchymal stem cells),
- Bone marrow-derived MSCs,
- Placental/umbilical cord-derived MSCs
- Other Cell Sources
Stem Cell Therapy Market, by Therapeutic Application
- Musculoskeletal Disorders
- Wounds & Surgeries
- Cardiovascular Diseases
- Inflammatory & Autoimmune Diseases
- Neurological Disorders
- Other Therapeutic Applications
Stem Cell Therapy Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific (APAC)
- Japan
- China
- India
- South Korea
- Rest of Asia Pacific (RoAPAC)
- Rest of World
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=48
Stem Cell Therapy Industry Recent Developments:
- In April 2023, US FDA approved Omisirge (omidubicel-onlv), a substantially modified allogeneic (donor) cord blood-based cell therapy.
- In July 2022, CORESTEM (South Korea) continued enrolling participants for the Phase 3 clinical trial of NeuroNata-R. This therapy has received conditional approval for treating ALS patients in South Korea
- In September 2020, Stemedica Cell Technologies received investigational new drug (IND) approval from the US FDA for intravenous allogeneic mesenchymal stem cells (MSCs) to treat moderate to severe COVID-19.
Key Market Stakeholders:
- Stem cell Research Institutes
- Cancer research institutes
- Stem cell therapy raw material suppliers
- Biotechnology & biopharmaceutical companies
- Drug manufacturers, vendors, and distributors
- Academic & government research institutes
- Venture capitalists & investors
- Government organizations
- Private research firms
- Academic & Research Institutes
- Research & development (R&D) companies
- Hospitals and Speciality Clinics
Report Objectives:
- To define, describe, and forecast the stem cell therapy market based on type, cell source, therapeutic application and region
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, opportunities and trends)
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall stem cell therapy market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Rest of the World
- To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the stem cell therapy market.
Related Reports:
Biologics Safety Testing Market
Nerve Repair & Regeneration Market
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/stem-cell-technologies-and-global-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/stem-cells-market.asp
