Stem Cell Therapy Market

Stem Cell Therapy Market Size (2022 to 2027)

The global stem cell therapy market size is forecasted to hike at a CAGR of 11.8% during the forecast period. The market is estimated to be USD 17.91 billion by 2027 and USD 10.29 billion in 2021.

Stem cell therapy, also known as regenerative medicine therapy, uses stem cells to prevent or treat the condition or disease. A stem cell is a particular type of cells differentiated from other types of cells into two defining features, including modifying into a specialized adult cell type and regeneration. These therapies can regenerate human cells, tissues, or organs to restore normal functioning of the body. Stem cell therapies are used to treat spinal cord injury, Parkinson's disease, sickle cell disease, diabetes, and heart diseases. An exponential rise in stem cell-based research by key players in the market and the vast success of regenerative medicine are expected to fuel market growth.

MARKET DRIVERS:

The global stem cell therapy market is mainly driven by increasing financial incentives and regulatory supports from the governments globally.

Automation in adult stem cell and cord blood processing and storage is the essential technologies anticipated to change the stem cell therapy market. Furthermore, key corporations and institutes in this market are involved in research collaborations and developing new methods.

A high infection rate has led to vaccines' development using different human diploid and non-tumorigenic cell lines. Growth in demand and awareness and ongoing research and development of vaccines against various diseases may fuel the market growth over the forecast period. Besides, the increasing demand for regenerative medicines is also likely to propel stem cell therapy market growth.

MARKET RESTRAINTS:

Stem cell therapy uses living cells for a wide range of therapeutic applications. High costs associated with stem cell therapy research and the ethical conundrum may restrain the market growth potential. The use of stem cells inside the human body is related to several biosafety concerns. Some religious principles are unacceptable for defiling the human body, even if it is for saving lives. Several ethical issues are associated with stem cells' use in as these cells are derived by destructing the human embryo, which is viewed as potential life. Such concerns about using embryonic stem cells for developing stem cell therapy are significant factors in restraining market growth across the globe. 

Impact of COVID-19 on Stem Cell Therapy Market:

The Stem Cell Therapy market is currently affected by the COVID-19 pandemic. Most of the projects in China, the US, Germany, and South Korea are held up. The companies face short-term operational concerns due to supply chain restrictions and lack of site access due to the COVID-19 pandemic lockdown. Asia-Pacific is also anticipated to get negatively affected by the spread of the COVID-19 due to the pandemic's effect in China, Japan, and India. China is a significant country in terms of the chemical industry and is the epicenter of this lethal disease. Hence it is facing issues in the supply of required chemicals and components.

REPORT COVERAGE:

This research report on the global stem cell therapy market has been segmented and sub-segmented based on the type, application, cell source, end-users, and region.

Stem Cell Therapy Market - By Type:

• Allogeneic Stem Cell Therapy
• Autologous

The allogeneic stem cell therapy segment held around 39% revenue share in 2020, and it is anticipated to grow considerably during the forecast duration. Stem cells collected in allogenic therapy are free of corrupting tumor cells, thus reducing disease recurrence risk that will surge its demand, thereby stimulating segment growth.

The autologous stem cell therapy segment is predicted to witness a 10.1% growth over the forthcoming years. However, there are concerns regarding cross-contamination during large scale production of autologous stem cell lines that will hinder segmental growth.

Stem Cell Therapy Market - By Application:

• Musculoskeletal Disorders
• Wounds and Injuries
• Cardiovascular Diseases
• Surgeries
• Gastrointestinal Diseases
• Other Applications

Stem Cell Therapy Market - By Cell Source:

• Adipose Tissue-Derived Mesenchymal Stem Cells
• Bone Marrow-Derived Mesenchymal Stem Cells
• Cord Blood/Embryonic Stem Cells
• Other Cell Sources

Stem Cell Therapy Market - By End User:

• Hospitals
• Clinics

The hospital segment held over 56% revenue share in 2020, and it is anticipated to grow significantly in the near future. The rising inclination towards stem cell therapies offered by hospitals proves beneficial for business growth. Hospitals have connections with research laboratories and academic institutes that carry out research activities for developing stem cell therapies. 

The clinic segment is expected to grow at around 10% during the forecast period. Nonetheless, as clinics offer specialized stem cell therapies, their treatment cost is much more expensive than hospitals that may reduce their preference.

Stem Cell Therapy Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, North America leads the global stem cell therapy market due to the rising adoption rate of novel stem cell therapies fueling market growth. Additionally, favorable government initiatives have encouraged regional market growth. For instance, Canada's government has initiated the Strategic Innovation Fund Program, in which gov will invest in research activities for stem cell therapies. Additionally, an excellent reimbursing scheme in the region, helping patients to spend more on health. The above factors could drive the North American market over the forecast period.

The stem Cell therapy market in the Asia Pacific is anticipated to expand at the highest CAGR over the forecast duration due to rising awareness of stem cell therapies' advantages among the population. Besides, developing collaboration between industry-academia to initiate research and development in stem cell therapy is anticipated to create a vast growth over the forecast period. For instance, as per the report of Pharma Focus Asia, members of the Asia-Pacific Economic Cooperation collaborated with Life Sciences Innovation Forum. They focussed on professionals' involvement with expertise in stem cell therapies from academia and research centers to promote stem cell research developments in regional market growth.

TOP COMPANIES IN THE MARKET:

Osiris Therapeutics, Inc., MEDIPOST Co., Ltd., Anterogen Co., Ltd., Pharmicell Co., Ltd., Holostem Terapie Avanzate SRL, JCR Pharmaceuticals Co., Ltd., NuVasive, Inc., RTI Surgical, Inc., and Allosource are some of the key companies operating in the global stem cell therapy market.

RECENT MARKET DEVELOPMENTS:

• In January 2019, the Center for Beta Cell Therapy in Diabetes and ViaCyte Inc. entered a collaboration for their first European clinical trial involving human stem cell-derived implants among T1D patients.
• In November 2018, Novartis AG received approval from the European Commission for its CAR-T (Kymriah) to treat B-cell acute lymphoblastic leukemia in pediatric and adult patients.