Stem Cells Market Growth & Trends
The global stem cells market size is expected to reach USD 31.6 billion by 2030, registering a CAGR of 9.74% from 2023 to 2030, according to a new report by Grand View Research, Inc. Stem cells are cells that can differentiate into a variety of other cells, eventually forming organs or tissues. Many studies have been conducted over the years to assess the true potential of stem cells, leading to a variety of applications in the fields of genetic disease treatment, neurological disorders, oncology, and organ regeneration. The market is driven by the rising number of banks, growing focus on increasing therapeutic potential of these products, and extensive research for the development of regenerative medicines, among other factors.
The growing focus on regenerative therapies is fueling market expansion. iPSCs are becoming increasingly popular for the creation of customized cellular therapies, and opening up new possibilities in regenerative medicine. For instance, in September 2020, researchers from Duke-NUS and Monash University discovered the first stem cell that can aid in the treatment of placenta issues during pregnancy. The researchers devised a new method for producing induced trophoblast stem cells that can be used to generate placenta cells. The research will aid in the development of an in-vitro human placenta model and pave the way for future therapies.
Moreover, COVID-19 is acting as a catalyst for promoting the market growth. Several countries such as U.S., China, and Iran, have started conducting clinical trials using cellular therapies for treatment of COVID-19 infections. Furthermore, the use of cell therapy in the treatment of COVID-19 patients has yielded excellent results, which is fueling market expansion. In January 2020, a group of researchers in Beijing, China, tested stem cell treatment on patients to see if it was beneficial against COVID-19. The study found that administering intravenous clinical-grade MSCs to COVID-19 patients during first trial of treatment, improved their functional results and promoted enhanced recovery.
Increasing prevalence of cancer is one of the key factors contributing to the growth over the forecast period. Failure of combination therapy and chemotherapy for treatment of cancer has led to the shift in preference of physicians from such therapies to autologous and allogeneic stem cell therapy, thereby boosting the growth. Moreover, key market players and the government bodies are continuously investing in cancer research. For instance, in November 2021, California Institute for Regenerative Medicine invested USD 4 million in therapy targeting patients with acute lymphoblastic leukemia (ALL), chronic lymphocytic leukemia (CLL) and mantle cell lymphoma (MCL)
Introduction of novel technologies for the usage and adoption of cell based therapy is expected to boost the growth over the forecast period. Automation in adult stem cell & cord blood processing and storage are the key technologies expected to positively influence the market growth. For instance, various scientists are aiming for the approval of safe, and successful treatments using stem cells in a broad range of diseases. In 2021, companies such as Biotech Cellino invested USD 75 million in an effort to merge Artificial Intelligence technology for the development of automated stem cell manufacturing, that has the ability to regularizing access to cell treatments while aiming to be cost effective.
On the other hand, high cost of therapy is expected to hinder the market growth. For example, Bio informant, a stem cell research firm, reported that the cost of stem cell therapy ranges between USD 5,000 and USD 8,000 per patient, with some cases costing as much as USD 25,000 or more depending on the complexity of the procedure. Furthermore, restrictions on stem cell research activities have traditionally hampered embryonic stem cell growth, resulting in a meager share of the total market despite its advantages.
Request a free sample copy or view report summary: Stem Cells Market Report
Stem Cells Market Report Highlights
- ASCs segment accounted for the largest share in 2022 as it is considered as a gold standard in stem cell-based therapies. They are widely accepted owing to their consistent clinical success especially in hematopoietic transplants and there is a relatively less controversial view regarding their origin
- The iPSC segment is expected to witness a lucrative CAGR through 2023-2030 owing to the increasing focus of companies in using iPS for cell therapies. For instance, in July 2020, Cynata Therapeutics Limited announced positive results for the phase 1 clinical trial of CYP-001, the company’s lead iPSC derived Cymerus
- Regenerative medicine dominated the market in 2022 owing to increasing funding by the government for the development of regenerative medicines. For instance, in October 2020, the AusBiotech-led consortium received funding of USD 300,000 from MTPConnect’s Industry Growth Centre Project Fund for the development of regenerative medicines in Australia
- Cell acquisition technology held the largest market share in 2022 and is expected to expand at the fastest CAGR through 2023-2030 owing to increasing research studies involving cell harvesting
- Allogenic therapy dominated the market in 2022 owing to the increasing application of allogeneic stem cell transplants for cancer treatment
- Pharmaceutical and biotechnology companies held the largest market share in 2022, and is anticipated to exhibit at fastest CAGR owing to upsurge in R&D, increasing clinical trials coupled with strategic activities by major market players
- North America market encompasses U.S. and Canada. The factors contributing to the market growth in the region include robust government funding, increasing research, and the presence of prominent players in this region
- Asia Pacific is expected to grow with the fastest CAGR of through 2023 to 2030 owing to increasing expansion by key companies in this region. For instance, in April 2020, Seneca Biopharma completed its new stem cell manufacturing facility in Suzhou, China
Access Press Release@ https://www.grandviewresearch.com/press-release/global-stem-cells-market
Stem Cells Market Segmentation
Grand View Research has segmented the global stem cells market based on product, technology, application, therapy, end-user, and region:
Stem Cells Product Outlook (Revenue, USD Million, 2018 - 2030)
- Adult Stem Cells (ASCs)
- Hematopoietic
- Mesenchymal
- Neural
- Epithelial/Skin
- Others
- Human Embryonic Stem Cells (HESCs)
- Induced Pluripotent Stem Cells (iPSCs)
- Very Small Embryonic Like Stem Cells
Stem Cells Application Outlook (Revenue, USD Million, 2018 - 2030)
- Regenerative Medicine
- Neurology
- Orthopedics
- Oncology
- Hematology
- Cardiovascular and Myocardial Infraction
- Injuries
- Diabetes
- Liver Disorder
- Incontinence
- Others
- Drug Discovery & Development
Stem Cells Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Cell Acquisition
- Bone Marrow Harvest
- Umbilical Blood Cord
- Apheresis
- Cell Production
- Therapeutic Cloning
- In-vitro Fertilization
- Cell Culture
- Isolation
- Cryopreservation
- Expansion And Sub-Culture
Stem Cells Therapy Outlook (Revenue, USD Million, 2018 - 2030)
- Autologous
- Allogenic
Stem Cells End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Pharmaceutical & Biotechnology Companies
- Hospitals & Cell Banks
- Academic & Research Institutes
Stem Cells Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players in Stem Cells Market
- Advanced Cell Technology Inc.
- STEMCELL Technologies Inc.
- Cellular Engineering Technologies Inc.
- CellGenix GmbH
- PromoCell GmbH
- Kite Pharma
- Lonza
- Cellartis AB
- Angel Biotechnology
- Brainstorm Cell Therapeutics
- Celgene Corporation
- Osiris Therapeutics
- Genea Biocells
- Bioheart Inc.
- Waisman Biomanufacturing
- Tigenix
- Caladrius Biosciences
- Gamida Cell
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment