Stem Cell Therapy System Market Report Covers Detailed Industry Scope, Future Scenario and Outlook to 2028

The "Stem Cell Therapy Market" size is expected to grow from US$ 2,278.49 million in 2022 to US$ 6,206.89 million by 2028. The market is estimated to register a CAGR of 18.2% from 2022 to 2028.

The growth of the global stem cell therapy market is majorly driven by increasing research activities related to stem cell therapy for effective disease management, and growing prevalence of cancer. However, the availability of illegal and unapproved products, and the high cost of approved treatments hamper the market growth. Stem cells are preliminary body cells from which all other cells with specialized functions are generated. Under a controlled environment in the body or a clinical laboratory, these cells divide to form more cells, called daughter cells. With the advent of modern health science, these cells have been demonstrated to play a major role in understanding the occurrence of diseases, the generation of advanced regenerative medicines, and the discovery of other drugs. Stem cells are formed in embryos, bone marrow, body fats, and umbilical cord blood, among others.

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Companies Profiled in this report includes:

• MEDIPOST
• RichSource
• BioTime, Inc.
• Mesoblast Limited
• Holostem Terapie Avanzate Srl
• U.S. Stem Cell, Inc.
• TiGenix NV
• AlloSource
• NuVasive Inc
• JCR Pharmaceuticals Co. Ltd.

The US is investing massive resources in its healthcare sector for accelerating research and development activities in stem cell technologies. These activities are projected to drive organic developments such as product launches, product approvals, and new product innovations. Financial aid from investors, government authorities, and significant players is, thus, likely to favor the stem cell therapy market growth in the US. In July 2019, Century Therapeutics raised US$ 250 million through a financing round to develop induced pluripotent stem cells (iPSC), which will be utilized in an allogeneic cell therapy platform. Moreover, in December 2019, NIH launched the US's first clinical study of patient-derived stem cell therapy for the treatment of the retina. Such studies, combined with developments in regenerative medicine, are expected to drive the acceptance and adoption of stem cell therapy in the US, which, in turn, will drive the market by 2027. For instance, in May 2019, SpinalCyte, LLC, a clinical-stage regenerative medicine company, announced the launch of a new comprehensive platform to raise awareness of the potential benefits served by fibroblasts and their promising applications in regenerative medicine technology.

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Stem Cell Therapy Market Segmentation:

By Type:
• Adult Stem Cell Therapy
• Embryonic Stem Cell Therapy
• Induced Pluripotent Stem Cell Therapy

By Treatment:
• Allogeneic
• Autologous

By Application:
• Musculoskeletal
• Dermatology
• Cardiology
• Drug Discovery and Development
• Other Applications

By End User:
• Academic & Research Institutes
• Hospitals & Specialty Clinics

In 2020, Australia, Japan, Korea, and New Zealand took better measures than other Asia Pacific countries to flatten the curve of SARS-CoV-2 infection. They developed effective testing, tracing, and isolation systems to ensure that people comply with social distancing and similar key guidelines. Other countries, including Vietnam and Thailand, demonstrated the value of a proactive response to contain the virus and limit deaths. However, the onset of the COVID-19 crisis severely affected cancer, heart disease, diabetes, HIV, tuberculosis, and malaria prevention and treatment services in Asia Pacific. The number of COVID-19 cases in India has dropped significantly compared to trends recorded in 2020 and 2021. The repercussions of the pandemic, including supply chain disruptions owing to extended factory shutdowns and production delays, persisted for a short period. However, as the demand exceeded supply, the country experienced a hike in commodity prices.

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The stem cell therapy market in Canada is expected to grow in the future owing to the development of the healthcare sector and rapidly increasing investments in stem cell therapy technology. On the other hand, in Mexico, increasing awareness of the benefits offered by stem cell therapy would benefit the stem cell therapy market.

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This release was published on openPR.