LONDON, Nov. 1, 2022 /PRNewswire/ -- Stem Cell Therapy Global Market Report 2022", grew from $ 197.30 Million in 2021 to $ 554.25 Million in 2028 at a growth rate (CAGR) of 15.90%.
Stem cell therapy is a clinical process that involves the adoption of stem cells for the prevention or treatment of various ailments. It is also referred to as regenerative medical therapy and is used by healthcare professionals to repair damaged cells. Stem cells are highly effective in treating inflammatory, neurological, autoimmune, neurological, and orthopedic conditions as they have the ability to penetrate and develop into any form of cell inside the body.
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Stem Cell Therapy Market: Scope
The growing pervasiveness of chronic ailments, rapidly evolving healthcare infrastructure, and rising R&D activities in the field are primarily the augmenting the outlook of this business vertical.
Furthermore, surging government initiatives to promote the adoption of stem cell therapy, technological advancements in the field along with growing medical expenditure across various regions are creating lucrative opportunities for the marketplace to prosper.
Also, increasing adoption of stem cell therapy in cancer treatment, rising geriatric population base, and favorable reimbursement scenarios across various regions are adding momentum to the progression of global stem cell therapy market.
On the contrary, rigid government regulations pertaining to the stem cell therapy along with ethical issues associated with the same are hindering the remuneration of this business vertical.
Stem Cell Therapy Market: Competitive Analysis
The prominent players defining the competitive terrain of this market sphere are Osiris Therapeutics, Inc., MEDIPOST, Anterogen, Ltd., Cynata, Pharmicell, Cytori Therapeutics, Holostem Terapie Avanzate S.r.l., JCR Pharmaceuticals, NuVasive, RTI Surgical, STEMCELL Technologies, BIOTIME, Osiris Therapeutics, Human Longevity, Advanced Cell Technology, Promethera Biosciences, Mesoblast and AlloSource, and Others.
Several inorganic and organic growth strategies are being adopted by the aforementioned players for further business expansion. They are extensively emphasizing toward strengthening their competitive edge by investing on R&D activities, new products launches, mergers & acquisitions, collaborations, and partnerships, among others.
Stem Cell Therapy Market: Segmentation Analysis
By Type
- Allogeneic Stem Cell Therapy Market, By Application
- Musculoskeletal Disorders
- Wounds and Injuries
- Surgeries
- Acute Graft-Versus-Host Disease (AGVHD)
- Other Applications
- Autologous Market, By Application
- Wounds and Injuries
- Cardiovascular Diseases
- Gastrointestinal Diseases
- Other Applications
- By Therapeutic Application
- Musculoskeletal Disorders
- Wounds and Injuries
- Cardiovascular Diseases
- Surgeries
- Gastrointestinal Diseases
- Other Applications
- By Cell Source
- Adipose Tissue-Derived Mesenchymal Stem Cells
- Bone Marrow-Derived Mesenchymal Stem Cells
- Cord Blood/Embryonic Stem Cells
- Other Cell Sources
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Growth Analysis:
A wide array of beneficial factors is positively influencing the trends of the global stem cell therapy market.
There has been a steep rise in the pervasiveness of rare genetic diseases across the globe. Millions of individuals are diagnosed with genetic disorders such as cystic fibrosis, thalassemia, and phenylketonuria, among others. It is clinically evident that advanced cell therapies are highly effective in treating such ailments as compared to conventional medications and therapies. The ability of stem cell therapy to repair or replace damaged cell is escalating its demand across the globe.
Moreover, the world is witnessing a rapid surge in the prevalence of chronic ailments. This is powered by the hectic work schedule of the masses coupled with the adoption of unhealthy eating habits. Also, rise in alcohol consumption and excessive smoking is further leading to the occurrence of various diseases. Stem cell based treatment has proven to be effective in treating such disorders. This in turn is stimulating the overall market dynamics.
Also, government across various nations are encouraging the adoption of advanced cell therapies in the disease diagnosis and treatment sector. Concerned bodies are providing R&D centers with sufficient funds for research activities in the field. This in turn has led to the emergence of innovative cell based therapies.
Region-wise Insights:
Which is the fastest growing region in global stem cell therapy market?
North America is presently dominating the industry in terms of revenue share. This is ascribed to the growing prevalence of genetic disorders, increasing geriatric population base, and rising healthcare expenditure.
Also, favorable government incentives aimed at the development of advanced cell therapies along with rapidly evolving healthcare infrastructure are adding momentum to the North America stem cell therapy market growth.
How is Asia Pacific faring in the industry?
Asia Pacific is reckoned to generate significant returns over the stipulated timeframe. This is attributable to the growing elderly populace, presence of favorable government regulations, rising prevalence of chronic ailments, surging per capita income of the masses, along with elevating R&D activities in the field.
Category-wise Outlook:
Which type segment is currently leading this business vertical?
The allogenic stem therapy segment is poised to amass notable gains over the forecast duration owing to the widespread use of this therapy in cancer treatment. It enables the donor stem cells to use their immune system cells to further attack and destroy the cancer cells.
Which is the fastest growing therapeutic application segment in the market?
The musculoskeletal disorders segment is the fastest growing segment in the global stem cell therapy market. This is attributable to the rising occurrence of musculoskeletal disorders especially among the elderly population base.
Which cell source segment holds the most significant proportion in global stem cell therapy market?
The adipose tissue-derived stem cell segment has captured a substantial revenue share due to the wide array of benefits offered by this cell source like simple isolation process.
On Special Requirement Stem Cell Therapy Market Report is also available for below region:
North America
- U.S, Canada
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
Stem Cell Therapy Market: Major Developments
- In January 2020, Astellas Pharma, Inc. joined hands with Allele Biotechnology and Pharmaceuticals, Inc. to jointly expand their cell therapy technology portfolio. This decision will further enable Astellas to access Allele's advanced induced pluripotent stem cell technologies.
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