The Global Stem Cell Market Estimated to Reach $16782.2 Million in Revenue by 2028

According to Triton's report, the global stem cell market, which garnered $9382 million in 2020, is predicted to advance at 7.54% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Stem Cell Market’ entails the Global Analysis and Forecasts by Treatment Type (Allogeneic Stem Cell Therapy, Autologic Stem Cell Therapy, Syngeneic Stem Cell Therapy), Technology (Expansion and Sub-Culture, Cryopreservation, Production [Therapeutic Cloning, IVF, Stem Cell Culture], Acquisition [Stem Cell Apheresis, Stem Cell Umbilical Cord, Stem Cell Bone Marrow Market]), Therapeutic Application (Diabetes, Orthopedic Treatments, Neurological Disorders, Cardiovascular Disorders, Oncology Disorders, Injuries and Wounds, Other Therapeutic Applications), Application (Drug Discovery and Development, Regenerative Medicine), Product (Adult Stem Cell [Neural Stem Cell, Mesenchymal Stem Cell, Hematopoietic Stem Cell, Dental Stem Cell, Umbilical Cord Stem Cell], Human Embryonic Stem Cell, Mouse/Rat Neural, Pluripotent), and by Geography (Asia-Pacific, Middle East and Africa, Latin America, Europe, North America).

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Triton’s report calculates the global stem cell market to expect growth based on revenue at a CAGR of 7.54% during the studied years 2021-2028. It is further anticipated to showcase revenue worth $16782.2 million by 2028.

Stem cells are termed to have the potential to stimulate wound repair in a paracrine manner. These cells are used for several therapeutic applications to treat conditions, such as diabetes, oncology disorders, neurological disorders, and cardiovascular diseases, among others.

The growing awareness regarding umbilical cord stem cells, rise in stem cell research and development, and surging demand for regenerative medicine, are elements significantly motivating the growth of the stem cell market worldwide. Stem cells are known to have high potential in treating multiple terminal diseases, and are used to replace damaged neurons resulting from spinal cord injuries or other neurological conditions. Therefore, the growing R&D activities to introduce new stem cell therapies to treat chronic illnesses drive the stem cell market’s growth. However, the elevated cost of stem cell therapies, stringent regulations, and ethical concerns pertaining to stem cells, are factors restricting the expansion of the stem cell market during the forecast period.

The stem cell market is broadly divided into treatment type, technology, therapeutic application, application, and product. In terms of treatment type, the market is sectioned into allogeneic stem cell therapy, autologic stem cell therapy, and syngeneic stem cell therapy. Similarly, the technology segment is subdivided into expansion and sub-culture, cryopreservation, production, and acquisition. Further, based on production, it is categorized into therapeutic cloning, IVF, and stem cell culture. In contrast, acquisition is further divided into stem cell apheresis, stem cell umbilical cord, and stem cell bone marrow market.

Additionally, the therapeutic application is branched into diabetes, orthopedic treatments, neurological disorders, cardiovascular disorders, oncology disorders, injuries and wounds, and other therapeutic applications. At the same time, the application is bifurcated into drug discovery and development, and regenerative medicine. The product section includes adult stem cell, human embryonic stem cell, mouse/rat neural, and pluripotent. Here, the adult stem cell is sub sectioned into neural stem cell, mesenchymal stem cell, hematopoietic stem cell, dental stem cell, and umbilical cord stem cell.

Globally, North America is leading the stem cell market. The region’s dominance is mainly owing to the surged investment in R&D activities and other pharmaceuticals by prominent market players. Moreover, the growing number of chronic conditions among the region’s population is augmenting the growth of stem cell therapies for multiple treatments. For instance, the high occurrence rate of health conditions across Canada has generated opportunities for the development of novel stem cell therapies to treat such conditions. Hence, these factors are majorly driving the stem cell market across North America.

Thermo Fisher Scientific Inc, Smith & Nephew Plc, StemCell Technologies, Miltenyi Biotec, Takara Holdings, GE Healthcare, International Stem Cell Corp, Qiagen NV, Stryker Corporation, Corning Inc, AllCells LLC, Cytori Therapeutics, Merck KGAA (Sigma Aldrich), Becton Dickinson and Company (BD), and Pluristem Therapeutics Inc are established enterprises thriving in this market.

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Question & Answer: Stem Cell Market

Question 1: What elements are significantly motivating the growth of the stem cell market?

Answer: The growing awareness regarding umbilical cord stem cells, rise in stem cell research and development, and surging demand for regenerative medicine, are elements significantly motivating the growth of the stem cell market worldwide.

Stem cells are known to have high potential in treating multiple terminal diseases, and are used to replace damaged neurons resulting from spinal cord injuries or other neurological conditions. Therefore, the growing R&D activities to introduce new stem cell therapies to treat chronic illnesses drive the stem cell market’s growth.

Question 2: What factors are restricting the expansion of the stem cell market?

Answer: The elevated cost of stem cell therapies, stringent regulations, and ethical concerns pertaining to stem cells, are factors restricting the expansion of the stem cell market during the forecast period.

Question 3: Which region is leading the stem cell market?

Answer: Globally, North America is leading the stem cell market. The region’s dominance is mainly owing to the surged investment in R&D activities and other pharmaceuticals by prominent market players. Moreover, the growing number of chronic conditions among the region’s population is augmenting the growth of stem cell therapies for multiple treatments. For instance, the high occurrence rate of health conditions across Canada has generated opportunities for the development of novel stem cell therapies to treat such conditions. Hence, these factors are majorly driving the stem cell market across North America.

Question 4: Which are the established enterprises present in the stem cell market?

Answer: Thermo Fisher Scientific Inc, Smith & Nephew Plc, StemCell Technologies, Miltenyi Biotec, Takara Holdings, GE Healthcare, International Stem Cell Corp, Qiagen NV, Stryker Corporation, Corning Inc, AllCells LLC, Cytori Therapeutics, Merck KGAA (Sigma Aldrich), Becton Dickinson and Company (BD), and Pluristem Therapeutics Inc are established enterprises thriving in this market.

Related Report:

Global Medical Aesthetics Market

The global medical aesthetics market is likely to display growth in its revenue during 2019-2028 at a CAGR of 5.53%. It is further expected to gain revenue worth $18527.3 million by 2028.

A large number of the population aged 25-60 are shifting preference towards cosmetic surgeries due to the growing awareness of sustaining a youthful look. This rise in cosmetic procedures is anticipated to surge medical aesthetics sales, thereby contributing to the studied market’s growth.

Factors such as the rising popularity of medical aesthetic treatments and growing acceptance of home-use aesthetic products, are driving the progress of the medical aesthetics market. Additionally, increasing medical aesthetics measures and technological advancements create several growth opportunities for the medical aesthetics market.

However, the elevated cost of implantable medical devices, reimbursement issues, and availability of counterfeit products, significantly weigh down the studied market’s expansion worldwide.

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This release was published on openPR.