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Stem Cell Global Market Report 2024 Analysis, Trends, Growth, Research And Forecast 2033
Stem Cell Global Market
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According to The Business Research Company's, The stem cell market size has grown strongly in recent years. It will grow from $13.97 billion in 2023 to $15.34 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to advancements in regenerative medicine, growing prevalence of chronic diseases, research and development initiatives, increasing aging population, rising awareness and acceptance.
The stem cell market size is expected to see rapid growth in the next few years. It will grow to $23.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to expanding applications in oncology, innovations in personalized medicine, government support and funding, biotechnology collaborations and partnerships, clinical trials and regulatory approvals. Major trends in the forecast period include commercialization of stem cell therapies, application of crispr technology, regulatory framework development, investments in stem cell research, focus on exosome therapeutics.
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Market Drivers and Trends:
There is an increase in the prevalence of Chronic diseases worldwide which drives the Stem cell market. Stem-cell therapy is the use of stem cells to treat or prevent a disease or condition. Bone marrow transplant is the most widely used stem-cell therapy, but some therapies derived from umbilical cord blood are also in use. Currently, widely used stem cell treatment is the transplantation of blood stem cells to treat diseases and conditions of the blood and immune system, or to restore the blood system after treatments for specific cancers. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, the number of people with chronic diseases worldwide is projected to reach 142.66 million by the year 2050, which is an increase from 71.522 million in 2020.
Companies in the stem cell therapeutics market are focusing on development of new technologies such as the Induced Pluripotent Stem Cells (IPSC) to boost the efficiency of stem cell therapies. IPSC are obtained from blood or skin cells that are reprogrammed to an embryonic-like pluripotent state by incorporating genes that are essential for maintaining key properties and growth of an unlimited source of any kind of human cell required for stem cell therapeutic purposes. These IPSC's are not derived from human embryos, which removes the bioethical issues, thus allowing scientists to obtain federal funding and support easily. A Japanese company, Oksara opened a medicine center that produced cells derived from iPS Cells. Similarly, Takar Bio company launched human iPSC derived Beta Cells i.e., Cellartis for disease modeling and drug discovery.
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Major Key Players of the Market:
Danaher Corporation, Cryo-Cell International Inc., Daiichi Sankyo Company Limited, Lonza Group Ltd, PerkinElmer Inc., CellGenix GmbH, China Cord Blood Corporation, Organogenesis Holdings Inc., LifeCell International, AMAG Pharmaceuticals Inc., Cord Blood America Inc., StemCyte Inc., Cryoviva India, Cordlife Group Limited, Thermo Fisher Scientific Inc., CordVida, Cryo Stemcell Inc., Pluristem Therapeutics Inc., Mesoblast Limited, Americord Registry LLC, Smart Cells International, Athersys Inc., ReeLabs Pvt. Ltd., Cytori Therapeutics Inc., Esperite N.V., Stemade Biotech, ViaCord, Aldagen Inc, Isto Biologics, Brainstorm Cell Therapeutics Inc., Osiris Therapeutics Inc.
Stem Cell Market 2024 Key Insights:
• The stem cell market size is expected to see rapid growth in the next few years. It will grow to $23.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Rising Prevalence Of Chronic Diseases Fuels Growth In The Stem Cell Market
• Advancements In Induced Pluripotent Stem Cells (IPSC) Technology
• North America was the largest region in the stem cell market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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