The global stem cell therapy market was valued at $205.1 million in 2021, and is projected to reach $928.6 million by 2031, growing at a CAGR of 16.2% from 2022 to 2031. Stem cells are the body's raw materials that are the cells from which all other cells with specialized functions are generated. Stem cell therapy which is also known as regenerative medicine promotes the repair response of diseased, dysfunctional or injured tissue using stem cells or their derivatives. It is the further step in organ transplantation and uses cells instead of donor organs, which are limited in supply. Researchers grow stem cells in a laboratory. These stem cells are manipulated to specialize into specific types of cells, such as heart muscle cells, blood cells or nerve cells. The cells further can be implanted into a person. For instance, if the person has heart disease, the cells could be injected into the heart muscle. The healthy transplanted heart muscle cells could then contribute to repairing the injured heart muscle. In the process of stem cell transplantation, the stem cells are replaced with damaged cells by chemotherapy or serve as a way for the donor's immune system to fight some types of cancer and blood-related diseases, such as leukemia, lymphoma, neuroblastoma and multiple myeloma. These transplants use adult stem cells or umbilical cord blood.
The growth of the stem cell therapy market size is driven by an increase in demand for stem cell therapy, an increase in government support for research and development activities and an increase in healthcare expenditure.
Furthermore, the increase in the prevalence of diseases like cancer, and new product launches associated with stem cell therapy are considerably contributing toward the stem cell therapy industry growth. However, limitations on the use of embryonic stem cells due to ethical concerns and the high cost of stem cell therapy are negatively impacting the stem cell therapy market growth. Conversely, the surge in the applications of induced pluripotent stem cells in embryonic stem cell therapy offers the stem cell therapy market opportunity.
Impact of COVID-19 Pandemic on Stem Cell Therapy Market Size
The coronavirus (COVID-19) was discovered in late December in the Hubei province of Wuhan city in China. The situation of COVID-19 has varied outcomes when related to vaccinations. There is an emerging gap in the economic recovery between high-income and low & middle income countries. After the pandemic severely disrupted global trade, the world is witnessing a robust rebound, which is helping with the recovery in the year 2021. Trade contributes to speeding up economic recovery from the pandemic by providing sustained foreign demand for exports and ensuring the availability of imported intermediate products and services. The COVID-19 pandemic affected the stem cell therapy industry in a negative way, like various other cell and gene therapies industries, were affected. According to the data of the National Institute of Health, the coronavirus (COVID-19) has caused significant disruption to the stem cells industry, which has historically faced substantial complexities in the supply of materials, and manufacturing and logistics processes. The costs and reimbursements associated with stem cell therapy were increased in the pandemic owing to the lockdown laws imposed during the pandemic.
Stem Cell Therapy Market Segmentation
The stem cell therapy market is segmented into Cell Source, Application and Type. By cell source, the market is classified into adipose tissue-derived mesenchymal stem cells, bone marrow-derived mesenchymal stem cells, cord blood/embryonic stem cells, and other cell sources. By application, the market is classified into cancer, musculoskeletal disorders, wounds and injuries, cardiovascular diseases, gastrointestinal diseases, and other applications. By type, the market is classified into allogeneic transplants and autologous transplants. Furthermore, allogeneic transplants are sub-classified as pediatric and adult. Also, autologous transplants are sub-classified as pediatric and adult. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
By Cell Source Segment Review
By cell source, adipose tissue-derived mesenchymal stem cells segment was the major revenue contributor in 2021 and is anticipated to continue this trend during the stem cell therapy market forecast period, due to the increase in the number of patients suffering from cancer. In addition, increasing target population, exposure to harmful radiation and increasing governmental initiatives also contributed toward the growth of the market. On the other side, bone marrow-derived mesenchymal stem cells segment is projected to exhibit the fastest market growth during the forecast period, owing to the higher incidence of chronic and fatal diseases such as musculoskeletal diseases, and the rise in smoking of tobacco that includes passive smoking, which may lead to cancer.
By Application Segment Review
By application, the cancer segment was the major revenue contributor in 2021 and is anticipated to continue this trend during the forecast period, due to an increase in the number of patients suffering from cardiovascular, musculoskeletal and gastrointestinal diseases. In addition, an increase in R&D activities also contributed to the growth of the market.
By Type Segment Review
By type, the autologous transplants segment is anticipated to grow with the largest stem cell therapy market share throughout the forecast period. This is attributed to the increase in the use of autologous stem cells, and the availability of the number of stem cell products. Recent advances in cellular technology have contributed to improve the understanding of various disease cells and their metabolism at a molecular level, thus driving the need of stem cell therapies for the treatment.
By Region Review
North America accounted for the largest stem cell therapy market share of revenue in 2021 and is anticipated to maintain its dominance from 2021 to 2031, owing to the presence of a large patient population, strong presence of key players, ease of product availability, well developed healthcare infrastructure, favorable reimbursement policies in the healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced therapeutics. However, Asia-Pacific is expected to grow at the highest CAGR, owing to an increase in the number of cancer affected population and a rise in the number of applications of stem cell therapy.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the stem cell therapy market analysis from 2021 to 2031 to identify the prevailing stem cell therapy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the stem cell therapy market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global stem cell therapy market trends, key players, market segments, application areas, and market growth strategies.
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Table of Contents
Companies Mentioned
- Allele Biotechnology and Pharmaceuticals, Inc.
- Astellas Pharma Inc.
- Fujifilm Holding Corporation
- Mesoblast Ltd.
- Novadip Biosciences
- NuVasive, Inc.
- Orthofix Holdings, Inc.
- Smith & Nephew plc
- Takeda Pharmaceutical Company Ltd
- U.S. Stem Cell, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 274 |
| Published | September 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 205.1 million |
| Forecasted Market Value ( USD | $ 928.6 million |
| Compound Annual Growth Rate | 16.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
