Newark, NJ, May 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global stem cells market is expected to grow from USD 1.15 billion in 2019 to USD 2.85 billion by 2027, at a CAGR of 12.03% during the forecast period 2020-2027. North America is projected to grow with the highest CAGR. Increasing awareness of therapeutic potency of stem cells, increasing number of acceptance for artificial stem cells, and availability of funds from private and public sector are the factors behind the growing demand for stem cells. Also, technical advancements have led to innovations that have increased the applicability of stem cells in the market.
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Some of the notable players in the stem cells market are MEDIPOST Co. Ltd., JCR Pharmaceuticals Co. Ltd., Anterogen Co. Ltd., Osiris Therapeutics Inc., NuVasive Inc., Pharmicell Co. Ltd, Thermo Fisher Scientific, Qiagen NV, Stemcell Technologies Inc., RTI Surgical Inc., and others. Many companies are joining their hands with pharmaceuticals to increase their business horizon.
The therapy type segments include autologous and allogenic. Allogenic is expected to hold a large part of market share during the forecasted period. The reason behind this is the production scale-up process, rising commercialization of allogeneic stem cell therapy products and higher applications of allogeneic stem cells in medical therapies. The cell source segments include bone marrow, adipose tissue, neural, embryo/cord blood-derived and iPSCs. The adipose fabric holds a significant market share because of its availability in the global market. Also, it is popular among the medical centres as compared to other sources. The therapeutic application segment includes musculoskeletal, wound & injury, CVD, surgery and GVHD. Musculoskeletal is expected to grow maximum during the upcoming years as the availability of stem cell-based products for the treatment of musculoskeletal disorders are rising, and patient preference for effective & early treatment strategies is growing.
Stem cells are fundamental units of the body, and they differentiate into cells of the same type as well as for other kinds. Stem cells help to grow other cells which are essential for survival. They act as a source of growth in animals and plants. Stem cells market has been expanding all over the world as clinical trials are increasing. The development of various storage banks, advancement of stem cell production and characterization has increased the capacity of the market. Availability of data like genomic, proteomic has helped improve customization of stem cells to cure several diseases which was previously non-curable. Developing countries are also joining the league by increasing the awareness. The number of stem cells storage bank is expanding in these countries. In many states, the government has started the initiatives to assist the market growth. Stem cells are vastly used in medical therapies. They are used in regenerative medicine in the field of dermatology. It plays a signifiant role in the treatment of cancers and tumor.
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About the report:
The global stem cells market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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