New York, USA, March 06, 2023 (GLOBE NEWSWIRE) -- Stem Cell Therapy Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), "Stem Cell Therapy Market Information by Cell Source, Type, Application, End user and Region - Forecast till 2030”, the market is projected to reach USD 92.08 Million by 2030 at 16.20% CAGR during the forecast period 2022-2030.
Market Scope
Stem cell therapy refers to a procedure that uses stem cells to prevent or treat any disease or condition. The global market for stem cell therapy has registered enormous growth in the last few years. The market's growth is primarily attributed to the increasing prevalence of chronic disorders across the globe. The global stem cell therapy market is likely to perceive an impressive growth rate over the current decade. The growing demand for fat & skin grafting procedures is a key driving force behind the market growth.
Stem cell therapy is a procedure involving the usage of a patient's own adipose tissue to increase the fat volume in the area of reconstruction, thus promoting 3Dimentional reconstruction. Patients who have undergone trauma or in a post-surgical event such as a mastectomy or lumpectomy, brain surgery, or who have had an accident or injury need this therapy. Stem cell therapy is also used in cosmetic or plastic surgeries.
Over the past few years, increasing stem cell reconstructive surgeries led by the increasing number of accidents, limb amputation, and implants are fostering growth in the stem cell therapy market. Besides, the factors such as increasing geriatric populations, rising number of patients suffering from chronic diseases, and continuous technological development are escalating the stem cell market value globally.
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Report Scope:
Report Scope:
| Report Attribute | Details |
| Market Size | USD 92.08 Million |
| CAGR | 16.20% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Cell Source, Type, Application and End user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing prevalence of chronic disorders |
| Rising number of clinical studies for stem cell therapy |
Market Dynamics
The rise in facial aesthetic treatments, technological advancements in the plastic surgery industry, and high demand for plastic surgery & integumentary system applications such as facelift procedures are key factors driving the stem cell therapy market growth. Additionally, the growing prevalence of skin diseases and increased activities in research laboratories, pharmaceuticals, and dermatology companies further foster stem cell therapy market revenues.
Moreover, the growing prevalence of obesity fosters the market growth of stem cell therapy, driving the plastic surgery & integumentary system demand. On the flip side, factors such as the high cost of stem cell therapy and stringent regulatory approvals are significant headwinds obstructing the market growth.
Besides, high risks of adverse effects associated with these surgeries can impede the market growth. Nevertheless, factors such as the increasing need for alternative treatments, government support for the development of new products, and rising healthcare expenditure are expected to support market growth over the assessment period.
Competitive Analysis
The fiercely competitive stem cell therapy market appears fragmented due to the presence of many well-established and small & new entrants. Innovation/ new technology launches remain popular among the key market players. The growth statistics of the market presage the probable heights the market can reach further.
For instance, on Feb.01, 2023, a research team from Kunming University of Science and Technology, China, announced the development of a new stem cell therapy for Parkinson's disease. The new therapy showed rapid and lasting effects on monkeys, who could barely move in their cages.
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These lab-made cells, known as mesenchymal stem cells (MSCs) restored in their brain, allowed animals suffering from the degenerative disease to stand up, grab food, and feed themselves in two to three weeks. Their movement and mental state kept improving over the next five years. Chinese scientists claim that this stem cell experiment raises hopes for effective Parkinson's disease treatment. Researchers further stated that if this cell treatment works successfully on humans, it could provide an affordable treatment for millions of sufferers worldwide and could be mass-produced.
Leading players in the global stem cell therapy market include ViaCyte, Inc. (US), Seraxis, Inc. (Germany), Betalin Therapeutics Ltd (Israel), Kadimastem (Israel), NextCell Pharma AB (US), Vertex Pharmaceuticals (US), Sernava Corp (Canada), Fresenius Medical Care AG & Co. KGaA (Germany), Novo Nordisk A/S (Denmark), and Generex Biotechnology (Canada), among others.
Segmentation
The stem cell therapy market report is segmented into therapy types, cell sources, applications, end-users, and regions.
The cell source segment is sub-segmented into adipose tissues, bone marrow, neural, embryo/cord, IPSCs, and PPSCs.
The therapy type segment is sub-segmented into autologous and allogeneic.
The application segment is sub-segmented into cancer, musculoskeletal disorders, diabetes, gastrointestinal diseases, cardiovascular, and others.
The end user segment is sub-segmented into hospitals & clinics, ambulatory surgical centers, academic & research centers, and others.
The region segment is sub-segmented into Asia-Pacific, Americas, Europe, and rest-of-the-world.
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Regional Analysis
North America dominates the global stem cell therapy market with the largest share globally. Factors such as the notable increase in incidences of stem cell surgeries and encouraging research & development activities in healthcare drive the market growth in the region. Additional factors, such as the increasing uptake of advanced technologies and high healthcare expenditures, substantiate the stem cell market size.
Owing to the rising demand for stem cell procedures, this market is expected to create a larger revenue pocket by 2030. The US, among other North American countries, accounts for the major stem cell market contributor due to the high expenditures on healthcare and the increasing demand for stem cell treatments.
Europe is another rapidly growing market for stem cell therapy globally. Advancements in medical technology and techniques in the region drive market growth. Additionally, the presence of a large patient population base alongside rising healthcare expenditures facilitates the regional market's growth. Research & development support and funding from public & private sectors in this region are expected to fuel the stem cell therapy market revenues over the review period.
The Asia Pacific region is rapidly emerging as a lucrative market for stem cell therapy. Increasing incidents of stem cell surgeries and the development of related technologies, mainly in the countries such as India, China, and Japan, escalate the region's market shares. Furthermore, the increasing adoption of newer technologies increases the demand for stem cell procedures. The APAC stem cell therapy market is projected to register a phenomenal CAGR during the forecast period.
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