Stem Cell Therapy Market Size to Surpass USD 31.41 Bn by 2030
August 5, 2022
The global stem cell therapy market size is projected to surpass around USD 31.41 billion by 2030 and it is growing at a CAGR of 13.73% over forecast period 2022 to 2030, as per new report study by Precedence Research.
/EIN News/ -- Ottawa, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The global stem cell therapy market size was reached at USD 11.22 billion in 2022. There has been an increase in the demand for these treatments due to various factors like the advancements in the technology and growing demand for the personalized medicine. Increased cases of various chronic disorders and a good result provided by the treatment is expected to drive the market growth in the coming years. There has been an increase in the research and development activities for providing personalized medicine and this shall drive the market growth in the coming years.
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Why North America region dominated the stem cell therapy market
- The North American region dominate the market with highest revenue share in 53% 2021. As many market players are present in the North American region these companies will be favorable for the growth of the market in the coming years. The availability of the advanced infrastructure in the healthcare industry shall we instrumental in the growth of the market.
- As most of the market players are associated for coming up with development in the use of stem cells for various treatments the market is expected to grow well in the North American region government in the United States is taking initiative for increasing the research activities. The favorable reimbursement policies and reforms that are supportive of the market shall drive the market growth in the North American region in the coming years period.
Why Asia Pacific region will grow faster in near future?
- Growing population and increased number of chronic diseases in the Asia Pacific region will drive the market growth for the stem cell therapy market in the coming years. As the government across various nations in the Asia Pacific region has taken various initiatives that are supportive of the research and development activities in this field and these organizations have also created an awareness regarding the availability of these treatments for the treatment of various chronic disorders and they are efficiency in treating such disorders will drive the market growth for the stem cell therapies or treatment in the Asia Pacific region during the forecast period.
- By product, the adult stem cells (ASCs) segment has had highest revenue share 85.9% in 2021
- The induced pluripotent stem cells (iPSCs) segment is anticipated to hit at a CAGR of 9.5%
- By application, the regenerative medicine segment contributed 91% market share in 2021
- The drug discovery and development application segment is growing at a CAGR of 9.5% between 2022 to 2030
- By therapy, allogenic stem cell therapy segment accounted highest share of 58.5% in 2021
- Asia Pacific region is growing at a CAGR of 9.2% from 2022 to 2030
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- The allogeneic stem cell treatment will have a greater demand due to easy availability of these products and better manufacturing processes that are available. This segment is expected to grow well due to its wide application across various diseases. The use of this therapy had generated a revenue of about 58% of the total market share in the past. These treatments are largely used for cancer.
- There's been an increased use of the stem cell treatment especially in treating the neurological disorders. The growing demand for these treatments in the neurological disorders is expected to have the highest compound annual growth rate in the coming years. This segment is expected to generate maximum revenue as this therapy is expensive which is associated with the treatment of the neurological disorders and the number of neurological disorders has increased across various nations.
- There shall be a maximum demand for these treatments or therapies in the hospitals and better treatment available at the hospitals will drive the market growth of the stem cell therapy in the coming years. Maximum sales were made through the hospital segment for the stem cell therapy. as the use of this therapy reduces the difficulties especially in the hospitals the consumers will seek this option more. Hospitals provide better treatment due to their collaborations with various Research Institute that come up with novel therapies which have a favorable in fact on the growth of the market.
Scope of the Report
|Market Size in 2021||USD 9.87 Billion|
|Revenue Forecast by 2030||USD 31.41 Billion|
|CAGR||13.73% from 2022 to 2030|
|Largest Market||North America|
|Fastest Growing Region||Asia Pacific|
|Forecast Year||2022 to 2030|
|Key Players||Caladrius, CELGENE CORPORATION, ReNeuron Group plc, Opexa Therapeutics, Inc., Virgin Health Bank, STEMCELL Technologies Inc., Biovault family, Pluristem Therapeutics Inc, Precious Cells International, Ltd, Mesoblast Ltd, Seneca Biopharmaceuticals, Inc.|
The stem cell therapy market is expected to grow well in the coming years due to the use of these treatment for treating various cardiovascular diseases and neurological disorders. Growing importance of these therapies in treating the autoimmune diseases will lead to the growth of the market in the coming years period constant research activities have improved the product in the past. Increase amount of funding provided by the governments and other private firms shall be helpful in improving the market further stem cell treatments.
In order to improve the market for the stem cell therapies a 10-year road map for the research activities associated with the stem cell was provided by the Australian government. Many major steps taken by various governments in a similar fashion will drive the market growth in the coming years period
Although this treatment is extremely beneficial against various diseases that do not have other cures the market is expected to see a few hurdles in the growth. Stem cells are obtained from the human embryo and destroying the human embryo is unethical even if it is associated with saving the life of the human beings. And this ethical problem with acquiring of the stem cells shall restrain the market growth in the coming years.
The use of the induced pluripotent stem cells for deriving stem cells from the huddle human body which are an alternative to the embryonic stem cell shall provide opportunities for the growth of this market in the coming years. It is an extremely effective alternative it does not involve any ethical issues. The development of this technology will be instrumental in providing better opportunity or growth prospects in the coming years period
One of the major challenges in the industry is that of the expansive nature of these treatments. Although these treatments are extremely beneficial and provide great results for various chronic disorders including cancer the cost of these treatments is extremely high and it is unaffordable for lower income groups across the globe. Also, the lack of awareness of the availability of these treatments in many developing nations will also hinder the market growth in the coming years.
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- BlueRock Therapeutics had announced that an approval was provided for the investigational new drug by the FDA in the year 2021 for its study of a product for the advanced stages of the Parkinson's disease.
- A regulatory approval was achieved by Stemputics and Cipla in the year 2020 for launching Stempeucel for India.
- Adult Stem Cells (ASCs)
- Human Embryonic Stem Cells (HESCs)
- Induced Pluripotent Stem Cells (iPSCs)
- Very Small Embryonic Like Stem Cells
By Therapy Type
- Regenerative Medicine
- Cardiovascular and Myocardial Infraction
- Liver Disorder
- Drug Discovery and Development
- Cell Acquiition
- Bone Marrow Harvest
- Umbilical Blood Cord
- Cell Production
- Therapeutic Cloning
- In-vitro Fertilization
- Cell Culture
- Expansion and Sub-Culture
By End User
- Research institutes
- surgical institutes
- North America
- Latin America
- Middle East & Africa (MEA)
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