The global market for stem cell therapy is estimated at US$ 9.5 billion in 2022 and is expected to grow significantly during the forecast period. The constant development in stem cell therapies is expected to drive market growth in the upcoming years. Rat
RationalStat provides market share analysis, production capabilities of the top companies, Covid-19 impact analysis, competition overview across the target markets, market strategies, and potential growth areas for the target players studied in the global stem cell therapy market.
Market Overview and Dynamics: Growth of Stem Cell Therapies in the Global market to be backed by government support
The global stem cell therapy market is expected to grow at a CAGR of around 9% during the forecast period of 2022-2028. The constantly increasing research and development activities in stem cell therapies by major players in the market are anticipated to play a key role in the growth of the global stem cell therapy market. R&D activities will result in the creation of new and advanced products offering enhanced protection. This is expected to attract the majority of the population as new products are comparatively reliable and safe to use. For instance,
• In December 2019, Mayo Clinic commenced a phase I clinical trial to assess the safety and feasibility of mesenchymal stem cell treatment in patients with intracerebral hemorrhage. This treatment is used to treat acute spontaneous hemorrhagic stroke.
• In July 2018, the Emory Orthopedics & Spine Center, in collaboration with Sanford Health, Duke University, Andrews Institute, and Georgia Institute of Technology, received a US$ 13 million grant from the Marcus Foundation for a multicenter clinical trial studying stem cell options for treating osteoarthritis.
Besides, the emergence of chronic diseases and the rise in GMP certification approvals for cell therapy production are some of the major drivers responsible for the growth of the global stem cell therapy market. Furthermore, the growth of the biotechnology sector is expected to influence the growth of the global stem cell therapy market as it helps in developing tools and therapeutics through the modification and engineering of stem cells.
In addition, significant government funding and initiatives for regenerative medicine research and development activities in the developed region will further stimulate market growth.
• For instance, the Medical Research Future Fund (MRFF) announced the Stem Cell Therapies Mission as part of the 2019-20 budget. Nearly US$ 150 million was allocated by the Australian government to research and development of safe and effective medicines for all afflicted people.
• Based on therapy type, allogeneic stem cell therapy holds a dominant share in the global stem cell therapy market and is expected to maintain its position in the upcoming years. This is majorly due to the use of allogeneic stem cells in the treatment of various cancer types including lymphomas, leukemia, and myelomas due to its graft-vs.-cancer effect.
• Based on the Therapeutic application, oncology holds a prominent share in the global stem cell therapy market as stem cell therapy finds application in the treatment of a variety of cancers. Other departments like Orthopedic, Neurology, Cardiovascular & Myocardial Infraction, and Hematology hold a significant share of the global stem cell therapy market.
• Based on region, North America dominates the global stem cell therapy market owing to the increasing research and development activities coupled with constant government support. Other regions like Europe and the Asia Pacific are expected to grow significantly in the forecast period.
Competition Analysis: Increasing number of clinical trials and R&D activities to lead the growth of the global stem cell therapy market in the upcoming years
Due to the presence of many well-established companies in the global stem cell therapy market, there is intense competition in the global stem cell therapy market. The global stem cell therapy market is expected to witness a pool of export opportunities due to the increasing prevalence of chronic diseases and increasing cases of cancer, growing awareness of the global population about preventive healthcare, and gradually improving healthcare infrastructure.
Regulatory approvals, manufacturing expansion, and innovation in therapies are the key industrial activities observed in the global stem cell therapy market. Significant consolidation is expected in the global stem cell therapy market during the forecasting period 2022-2028.
• In March 2021, NOVADIP Biosciences S.A. gained FDA approval for its Investigational New Drug (IND) application for its autologous cell treatment product NVD-003. This strategy is expected to boost their market position by improving their product offerings and expanding their consumer base.
• In April 2020, Seneca Biopharma Inc. announced the completion of its new cell manufacturing facility in Suzhou, China. The company will manufacture NSI-566 in this new facility, which is the company's leading stem cell therapy.
Some of the prominent players operating in the market include Celgene Corp. (Bristol Myers Squibb), ReNeuron Group PLC, BioTime Inc., Mesoblast Ltd., Seneca Biopharma Inc., Opexa Therapeutics Inc., Pluristem Therapeutics Inc., STEMCELL Technologies Inc., ThermoGenesis Holdings Inc., Astellas Pharma Inc., and Caladrius Biosciences Inc. among others.
RationalStat has segmented the global stem cell therapy market on the basis of product, therapy type, technology, therapeutic application, end-use, and region.
• By Product
o Adult Stem Cells (ASCs)
o Human Embryonic Stem Cells (HESCs)
o Induced Pluripotent Stem Cells (iPSCs)
o Very Small Embryonic-Like Stem Cells
• By Therapy Type
o Allogeneic Stem Cell Therapy
o Autologous Stem Cell Therapy
• By Technology
o Cell Acquisition
Bone Marrow Harvest
Umbilical Blood Cord
o Cell Production
o Expansion and Sub-culture
• By Therapeutic Application
o Cardiovascular & Myocardial Infraction
o Others (Wounds & Injuries, Liver Disorders, Diabetes, etc.)
• By End Use
o Research Organizations
• By Region
o North America
o Latin America
Rest of Latin America
o Western Europe
Rest of Western Europe
o Eastern Europe
Rest of Eastern Europe
o Asia Pacific
ASEAN (Indonesia, Vietnam, Malaysia, etc.)
Rest of Asia Pacific
o Middle East & Africa
Rest of the Middle East & Africa
For more information about this report https://store.rationalstat.com/store/global-stem-cell-therapy-market-investment-growth-opportunity-analysis/
Kimberly Shaw, Content and Press Manager
Phone: +1 302 803 5429
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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