The global stem cell therapy market is experiencing growth due to increase in healthcare expenditure and surge in government support for R&D activities. North America grabbed the highest share of more than half of the total market revenue and is projected to retain its dominance by the year 2031. The lockdown restrictions and absence of investments during the pandemic affected the R & D activities.
Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) — As per the recent report published by Allied Market Research, the global stem cell therapy market size is estimated to generate $928.6 million by 2031. The market has witnessed the value of $205.1 million in 2021 and is anticipated to witness the fastest growth with 16.2% CAGR during the forecast period of 2022 to 2031. The report is an excellent source of the competitive scenario, top segments, Covid-19 impact, changing market dynamics, and value chain analysis. The report offers in-depth data for startups, investors, stakeholders, and market players to assist them implement strategies for acquiring a competitive edge and sustainable expansion.
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Report Coverage & Details:
|Market Size in 2021||$205.1 million|
|Market Size in 2031||$928.6 million|
|No. of Pages in Report||274|
|Segments covered||Cell Source, Application, Type, and Region.|
|Drivers||Rise in government support for research and development activities|
|Surge in healthcare expenditure|
|Opportunities||Increase in prevalence of diseases such as cancer|
|New product launches associated to the stem cell therapy|
|Restrains||Limitations on the use of embryonic stem cells due to ethical concerns and high cost of stem cell therapy|
Recent Developments in the Stem Cell Therapy Market
- In July 2023, Minovia Therapeutics, Ltd and Astellas Pharma Inc. announced a worldwide strategic collaboration and license agreement for the research, development, and commercialization of novel cell therapy programs for diseases caused by mitochondrial dysfunction.
- In July 2023, PromoCell announced the launch of the ‘PromoExQ MSC Growth Medium XF’ for cell therapy manufacturing applications. The xeno- and serum-free medium is compliant with the company’s EXCiPACT GMP certification scheme and has been optimized for in-vitro expansion of human MSCs in GMP regulated environment, offering consistent growth and maintenance of various types of multipotent MSCs
- In September 2020, Stemedica Cell Technologies, Inc. has received U.S. Food and Drug Administration (FDA) Investigational New Drug (IND) approval for Intravenous Allogeneic Mesenchymal Stem Cells in Patients with Moderate to Severe Lung Injury due to COVID-19.
- In August 2020, Pluristem Therapeutics Inc. announced today its subsidiary, Pluristem Ltd., has signed a non-binding Memorandum of Understanding (MOU) with the United Arab Emirates-based Abu Dhabi Stem Cells Center (ADSCC). The aim of the collaboration is to capitalize on each company’s respective areas of expertise in cell therapies to deliver regenerative medicine.
- In May 2020, California Institute for Regenerative Medicine (CIMR) approved emergency funding and allocated $5 million for regenerative medicines and stem cell research that could rapidly advance treatments for COVID-19.
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The research offers extensive segmentation of the global stem cell therapy market on the basis of cell source, application, type, and region. The research analyzes segments and sub-segments to find out the highest revenue-generating and fastest growing segments for startups and market players. The report provides market size and estimations for each segment and its sub-segment, offering insights to identify strategies that can be adopted for achieving growth.
On the basis of cell source, the adipose tissue-derived mesenchymal stem cells grabbed the largest share in 2021, contributing to more than half of the global stem cell therapy market and is likely to retain its dominant status throughout the forecast timeframe. The bone marrow-derived mesenchymal stem cells segment, on the other hand, is anticipated to witness a highest CAGR of 16.9% from 2022 to 2031.
By application, the cancer segment held the largest market share in 2021, accounting for nearly half of the total market revenue and is expected to retain its dominant share during the forecast period. Also, the same segment would showcase the highest CAGR of 16.8% throughout the forecast timeframe. The report also studies musculoskeletal disorder, wounds and injuries, cardiovascular disease, and others segments.
By type, the autologous transplants segment grabbed the highest share of more than half of the total market share in 2021 and is projected to continue its supremacy from 2022 to 2031. The allogeneic segment, however, would manifest the fastest CAGR of 16.4% throughout the forecast timeframe.
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On the basis of region, the market across North America was largest in 2021, accounting for more than half of the global market revenue and is anticipated to dominate the market share from 2022 to 2031. The Asia-Pacific, however, would manifest the fastest CAGR of 19.0% throughout the forecast timeframe. The research also discusses LAMEA and Europe regions.
Top market players profiled in the report involve, U.S. Stem Cell, Inc., Smith & Nephew plc, Takeda Pharmaceutical Company Ltd., NuVasive, Inc., Orthofix Holdings, Inc., Mesoblast Ltd., Novadip Biosciences, Astellas Pharma Inc., Fujifilm Holding Corporation, and Allele Biotechnology and Pharmaceuticals, Inc.
Comprehensive Healthcare Industry Research Studies:
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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