Stem Cells Market Size Worth US$ ~24.4 billion by 2031 | Top Key Players: Pfizer Inc, Osiris Therapeutics Inc, ReNeuron Group plc, GlaxoSmithKline plc, Baxter, AlloSource

According to the deep-dive market assessment study conducted by Growth+Reports, the global stem cells market was pegged at ~US$ 10.57 billion in 2020. The market is expected to witness a CAGR of ~7.9% from 2021 to 2031.

Major factors attributing to the growth of the stem cell market include the rising number of stem cell research activities and a strong stem cell therapy pipeline. Moreover, the rising incidence of chronic conditions and government support in the form of funding for stem cell research are some other factors driving the stem cell therapy market.

However, ethical concerns and the possible risk of oncogene expression during the reprogramming of the cells are some of the factors likely to hinder the market growth to a certain extent.

Some of the prominent players operating in the global stem cells market include
• Pfizer Inc
• Osiris Therapeutics, Inc. (Smith & Nephew)
• ReNeuron Group plc
• GlaxoSmithKline plc
• Holostem Terapie Avanzate S.r.l.
• Baxter, AlloSource
• Astellas Pharma Inc
• Pluristem Therapeutics Inc
• Regen BioPharma, Inc

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In order to draw on each other’s strengths, companies in the market are forming collaboration and partnerships. For instance, in November 2020, Fujifilm Cellular Dynamics and Lonza Walkersville, Inc., entered into a partnership. Through this partnership, Fujifilm granted Lonza a non-exclusive right to use their patents related to iPSC generation, including episomal vectors and reprogramming factors, for the clinical manufacture and differentiation of iPSC lines for cell therapies.

Stem cells have the special ability to produce both copies of themselves as well as other types of cells. Due to this unique ability, stem cells exhibit potential applications. Applications of stem cells in regenerative medicine include healing heart defects, improving spinal cord injury, brain and cancer treatment, muscle regeneration, correction of neural defects, and regeneration of fallopian tube, among others.

Stem cell research is an emerging branch with high growth potential as there is continuous ongoing research to discover novel applications for the treatment of various diseases. Researchers are focusing on finding the potential applications of stem cells in the field of regenerative medicine. For instance, in February 2021, Kalyagen along with the Spanish Society of Regenerative Medicine and Cell Therapy launched a multicenter clinical trial - ‘the Effect of Stemregen and Adipose Stroma Vascular Fraction (SVF) Either Individually or in Combination in Patient With Heart Failure’ - to evaluate the use of stem cell therapies for advanced heart failure patients. Such research studies would drive the usage of stem cells and in turn, propel the market growth.

Ethical, religious, and political challenges are among the major factors restraining the growth of the stem cell therapy market. As these cells are derived from embryos, there have been ethical concerns regarding use of these cells. Moreover, compatibility of donors and the risk of tumorigenesis are some of the other factors affecting the market growth.

Regionally, Asia-Pacific is anticipated to be the fastest-growing region in the stem cells market during the forecast period. Rising incidence of non-communicable diseases, a large population base, and a large number of stem cell research activities are some of the factors driving the stem cell market growth. Companies in this region are forming partnerships and collaborations to conduct R&D. For instance, in August 2020, Cipla and Stempeutics entered into a collaboration to launch ‘Stempeucel’, the first 'Made in India' Cell Therapy to treat Critical Limb Ischemia (CLI). Stempeucel is an allogeneic cell therapy product that is designed such that it helps in enhancing the body's limited capability to restore blood flow in ischemic tissue. Such developments would drive the usage of stem cells and thereby drive the market growth in the region.

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