Pune, July 16, 2024 (GLOBE NEWSWIRE) -- Stem Cell Therapy Market Growth Analysis:
“According to SNS Insider research, The Stem Cell Therapy Market is valued at USD 287 Million in 2023 and is anticipated to surpass USD 1,113.12 Million by 2032, with a compound annual growth rate (CAGR) of 17.10% over the forecast period 2024-2032.”
Major factors witnessed skyrocket in the global stem cell therapy market are increasing awareness about umbilical stem cells, surging demand for regenerative treatment options, and hefty R&D initiatives toward developing new stem cell therapies.
Additionally, soaring incidence of chronic diseases and increasing application of regenerative stem cell therapies in managing chronic conditions are key factors pointing at significant revenue generation potential in the market. This is just an example, projected 56.19 million heart failure cases globally by March 2023 as per American Heart Association Journal! Therefore, such a drastic rise in the prevalence of chronic diseases is anticipated to drive demand for novel regenerative therapies designed for heart disease and hence propel stem cell therapy market growth.
This has led to the rise of chronic diseases prompting more research in regenerative stem cell therapy hence new hope for treating survivors of such illnesses. In December 2023 researchers from the Mayo Clinic and international collaborators showed that stem cell-derived regenerative therapy is an effective treatment for advanced heart failure. Hence, on account of these factors, they are anticipated to contribute one-third part of the growth in the stem cell therapy market during forthcoming years.
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Major Players Analysis Listed in this Report are:
- Thermo Fisher Scientific, Inc.
- Lonza
- Merck KGaA
- CellGenix GmbH
- Takara Bio
- Cellartis AB
- AcceGen
- Cell Applications, Inc.
- ATCC
- PromoCell GmbH
- Bio-Techne
- STEMCELL Technologies Inc.
- Other Players
Stem Cell Therapy Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 287 Million |
| Market Size by 2032 | US$ 1,113.12 Million |
| CAGR | CAGR of 17.10% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | •Increasing Prevalence of Chronic Disorders is responsible for the Increasing Demand for Stem Cell Therapy Solutions. •The Growing Demand for Stem Cell Banking is Boosting the Market Growth. |
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Segmentation Dynamics
The pharmaceutical and biotechnology companies segment accounted for 54% in the year 2023. Factors such as the growing incidence of chronic diseases, growth in the number of clinical trials, and rise in strategic activities along with healthcare enhancement are expected to be responsible for the dominance established by this segment. In August 2022, for example, StemCyte Inc. received U.S. FDA clearance to conduct the first-of-its-kind Phase II clinical trial using umbilical cord blood stem cell therapy in patients with post-COVID syndrome. In addition, in April 2022 the US FDA cleared BioCardias Investigational New Drug (IND) application to start a Phase I/II clinical of BCDA-04 for use by adults recovering from COVID-19 induced ARDS.
In 2023, the Cell acquisition segment accounted for a major revenue. The discovery of embryonic stem cells has created a new and exciting field for the development of designer treatments to combat diseases. They are pluripotent and can develop into any cell in the body. Nevertheless, extracting embryonic cells from the embryo has always been a contentious issue. That's when an alternative was discovered—iPS cells. Eg- In September 2020, A team of researchers from Singapore and Australia found out the molecular changes that occur when adult skin cells are reprogrammed into induced pluripotent stem cells (iPSCs). Those converted stem cells were then able to make placenta tissue, which might provide new treatments for certain conditions in the placenta that arise during pregnancy.
Stem Cell Therapy Market Key Segmentation
By Product
- Adult Stem Cells (ASCs)
- Human Embryonic Stem Cells (HESCs)
- Induced Pluripotent Stem Cells (iPSCs)
- Very Small Embryonic Like Stem Cells
By Application
- Neurological Disorders
- Orthopaedic Treatments
- Oncology Disorders
- Injuries and Wounds
- Cardiovascular Disorders
- Others
By Therapy
- Allogeneic
- Autologic
- Syngeneic
By End-Use
- Pharmaceutical & Biotechnology Companies
- Hospitals & Cell Banks
- Academic & Research Institutes
By Technology
- Cell Acquisition
- Cell Production
- Cryopreservation
- Expansion and Sub-Culture
Regional Analysis
Asia Pacific is likely to advance at the fastest pace of 16.8% CAGR over the forecast period, due large patient base and a strong pipeline of products in stem cell-based therapies. Based on this, the global stem cells market is projected to increase rapidly because incidence rates are increasing e.g. cancers and neurology infectious diseases with type 1 diabetes. Factors such as the availability of government funding to speed up the progress in stem cell research are backing in Favor of this region. In February 2022, the government of India established state-of-the-art stem cell research facilities in 40 top health research and educational institutions. From 2021-2024, research projects funded by the government through the Indian Council of Medical Research, have spent USD 80 million.
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Recent Developments
- In April 2024: The Agency for Science, Technology, and Research in Singapore (A*STAR) and SCG Cell Therapy Pte Ltd. agreed to further develop the production of genetically engineered iPSCs under good manufacturing practices (GMP).
- In June 2023: StemCyte allied with a US company focused on umbilical cord blood-derived allogeneic CAR-NK therapy. According to the terms of their agreement, StemCyte will provide the necessary raw materials for allogeneic cell therapy product processing.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Stem Cell Therapy Market Segmentation, By Product
8. Stem Cell Therapy Market Segmentation, By Application
9. Stem Cell Therapy Market Segmentation, By Therapy
10. Stem Cell Therapy Market Segmentation, By End-Use
11. Stem Cell Therapy Market Segmentation, By Technology
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Use Case and Best Practices
16. Conclusion
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