Stem cells are preliminary body cells from which all other cells with specialized functions are generated. Under controlled environment in the body or a clinical laboratory, these cells divide to form more cells called daughter cells. Due to the advent of modern health science, these cells play a major role in understanding the occurrence of diseases, generation of advanced regenerative medicines, and drug discovery. There are certain sources such as embryo, bone marrow, body fats, and umbilical cord blood amongst others, where stem cells are generated. The global stem cell therapy market is driven by factors such as increasing awareness related to the stem cells therapy in effective disease management and growing demand for regenerative medicines. However, high cost related with stem cell therapy is likely to obstruct the growth of the stem cell therapy market during the forecast period. The growing research and development activities in Asia Pacific region is expected to offer huge growth opportunity for stem cell therapy market.
The stem cell therapy market was valued at US$ 1,534.55 million in 2019 and is expected to grow at a CAGR of 16.7% from 2020to 2027 to reach US$ 5,129.66 million by 2027.
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Leading companies operating in the stem cell therapy market are Medipost, pharmicell Co., Ltd., Holostem Terapie Avanzate S.R.L., Mesoblast Ltd., U.S. Stem Cell, Inc., Biotime, Inc., RichSource, Caladrius, TiGenix NV (Takeda Pharmaceuticals), and Genea Biocells among others.
The global stem cell therapy market, based on the type, is segmented into adult stem cell, induced pluripotent stem cells, embryonic stem cell, and other stem cells. Adult stem cell therapy is further segmented into hematopoietic stem cells, mesenchymal stem cells, neuronal stem cells, and umbilical cord stem cells. The adult stem cell segment held the largest share of the market in 2019. The same segment is estimated to register the highest CAGR in the market during the forecast period due to its effectiveness for the treatment of chronic conditions coupled with higher compatibility with immunity system. The end user segment is segmented into academic and research institutes and hospitals & specialty clinics.
The stem cell therapy market for is expected to grow, owing to factors such Increasing awareness related to the stem cells therapy in effective disease management, growing demand for regenerative medicines, and growing cancer prevalence across the globe are likely to have a positive impact on the growth of the market in coming years.
Researchers are further investigating stem cell therapy in autoimmune disorder. Other adult stem cells based treatments are under clinical trials. Hematopoietic stem cells are currently used for treating more than 80 medical diseases, which include diseases of the immune system, blood disorders, neurological disorders, metabolic disorders, genetic disorders, and several types of cancers like leukemia, lymphoma, etc.
To comprehend global Stem Cell Therapy market dynamics in the world mainly, the worldwide market is analyzed across major global regions: North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia and Italy), Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), South America (Brazil, Argentina), Middle East & Africa (Saudi Arabia, UAE, Egypt and South Africa)
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