Westford, USA, Aug. 09, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Stem Cell Therapy Market will attain a value of USD 28.60 Billion by 2031, with a CAGR of 11.2% over the forecast period (2024-2031). About 7.1% of all diseases globally are neurological disorders and cerebrovascular diseases, as per approximations by the World Health Organization (WHO). Consequently, companies are investigating the potential of stem cells to regenerate in neurological illnesses through basic research and preclinical investigations. Companies are now investing a large amount of money in cellular cancer treatments, which is anticipated to promote the growth of the global stem cell therapy market.
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Stem Cell Therapy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $12.23 Billion |
| Estimated Value by 2031 | $28.60 Billion |
| Growth Rate | Poised to grow at a CAGR of 11.2% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Cell Source, Type, Cell Source and Therapeutic Application |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increased focus on allogeneic therapies |
| Key Market Opportunities | Emergence of iPSCs as an alternative to ESCs |
| Key Market Drivers | Increasing prevalence of chronic diseases |
Allogeneic Therapy Leads the Market through Enhances Treatment Efficacy
The ability of allogeneic therapy to supply easily obtainable stem cells from healthy donors, resulting in prompt treatment initiation, is what propels its dominance in the worldwide stem cell therapy market. Together with improvements in matching methods and a decrease in graft-versus-host disease cases, this boosts treatment effectiveness and expands the therapy's application, which in turn supports market expansion.
Increased Effectiveness of SCT makes the Neurological Disorders Application the Fastest Growing Sub-Segment
As neurological illnesses like Parkinson's and Alzheimer's are so common, they are driving the growth of the worldwide stem cell therapy market. This demand encourages great attention to research, and invention of new treatment attempts followed by additional improvements in the availability and effectiveness of stem cell therapies in dealing with several diseases which in turn makes their commercial viability stronger.
Higher Penetration of Stem Cell Therapy Products Makes North America a Leading Consumer
The market is led by North America, which is explained by several factors, including the region's concentration of cutting-edge businesses and major players that increased the penetration of stem cell therapy goods. North America is well-known for its robust biotechnology sector, wide-ranging R&D endeavours, and emphasis on personalised medicine promotion.
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Stem Cell Therapy Market Insight
Drivers:
- Increasing Prevalence of Chronic Diseases
- Technological Advancements and Research Investments
- Strategic Initiative by Market Players to Widen the Scope of Growth
Restraints:
- Ethical Concerns Related to Embryonic Stem Cells
- High Cost of Treatment Hinders Market Expansion
- Technical Limitations
Prominent Players in Stem Cell Therapy Market
The following are the Top Stem Cell Therapy Companies
- Novartis AG (Switzerland)
- Pfizer Inc. (US)
- Mesoblast Limited (Australia)
- Celgene Corporation (US)
- TiGenix NV (Belgium)
- Gamida Cell Ltd. (Israel)
- Vericel Corporation (US)
- Medipost Co., Ltd. (South Korea)
- Astellas Pharma Inc. (Japan)
- Osiris Therapeutics, Inc. (US)
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Key Questions Answered in Global Stem Cell Therapy Market Report
- What is the estimated market size for stem cell therapy worldwide by 2031?
- What factors, in terms of neurological disorders, are propelling the growth of the global stem cell therapy market?
- Which region is the market leader for stem cell therapy, and what factors support this dominance?
This report provides the following insights:
- Analysis of key drivers (Rising burden of chronic diseases, offering the potential to regenerate damaged tissues, expanded the understanding of stem cells & their applications and genetic engineering techniques have propelled the field forward), restraints (High cost associated with stem cell therapies, lower-income regions limited access and ensuring compliance with various regulations for clinical trials), opportunities (Having the ability to differentiate into specialized tissue cells, proactive laws related to contraception and development of regenerative medicine), and challenges (Technical difficulties faced at various manufacturing stages and limited manufacturing capability) influencing the growth of stem cell therapy market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the stem cell therapy market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the stem cell therapy market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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