Stem Cell and Regenerative Therapy Market: Cell Therapy Segment to Dominate Global Market
Stem Cell and Regenerative Therapy Market: Effective Treatment Method for Damaged Cells in Number of Diseases
- Stem cells are body’s raw materials or cells from which all other cells with specialized functions are generated. These cells can be guided to become specific cells that regenerate and repair diseased or damaged tissues in patients suffering from various diseases.
- This stem cell therapy is called regenerative medicine or regenerative therapy to treat several diseases. Stem cell and regenerative therapy promotes the repair response of diseased, injured, or dysfunctional tissue using stem cells or derivatives of stem cells.
- Stem cell therapies can be used to treat patients with Parkinson's disease, amyotrophic lateral sclerosis, diabetes type 1, Alzheimer's disease, heart disease, stroke, burns, cancer, and osteoarthritis
- In advanced therapies, stem cells are used to replace damaged cells and serve as a replacement method for the donor's immune system to fight several types of blood-related diseases and cancer
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Key Drivers and Restraints of Global Stem Cell and Regenerative Therapy Market
- Rise in prevalence of different chronic diseases across the world and increase in investment or funding by major companies for stem cell and regenerative therapy are the major factors boosting the growth of the global stem cell and regenerative therapy market
- In May 2018, AstraZeneca collaborated with two wholly owned subsidiaries of Sweden-based Innovation Bridge (SWIB) Holding (SWIB Company), Procella Therapeutics and Smartwise, through which SWIB received an additional US$ 320 Mn funding aimed at future therapy for repairing damaged heart by stem cell research
- Increase in commercial applications of regenerative medicine in different chronic disease treatment also fuels the growth of the global stem cell and regenerative therapy market
- Moreover, launch of new products and rise in government funding to research institutes for stem cell therapy are the other factors driving the global market
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Unclear Regulatory Guidelines Hampers Global Market
- There is no specific regulatory guidelines to exercise appropriate quality oversight of stem cell and regenerative therapy products, both before and after approval. Hence, most of the products could not achieve commercial success. This hampers the growth of the global stem cell and regenerative therapy market.
- Moreover, strict manufacturing control regulations and technical limitations in terms of subject knowledge & procedure complication for stem cell production are the other factors likely to restrain the global market
Cell Therapy Segment to Dominate Global Market
- Based on product type, the global stem cell and regenerative therapy market can be divided into cell therapy, tissue engineering, and gene therapy
- The cell therapy segment dominated the global stem cell and regenerative therapy market in 2018. The segment is projected to expand at a higher CAGR during the forecast period.
- Ongoing clinical trials of new cell therapy products for cancer & heart diseases and rise in demand of these products in developed as well as developing countries are the other factors anticipated to fuel the growth of the cell therapy segment
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Oncology to be Highly Promising Segment
- In terms of application, the global stem cell and regenerative therapy market can be categorized into cardiovascular disorders, oncology, orthopedics, dermatology, diabetes, central nervous system disorders, and others
- Oncology is expected to be a highly lucrative segment during the forecast period owing to rise in prevalence of cancer across the world, ongoing research on stem cell therapy in oncology, and increase in funding by public as well as private players for new product development in oncology therapy
Hospitals to be Major End-user Segment
- Based on end-user, the global stem cell and regenerative therapy market can be divided into hospitals, clinics, and others
- The hospitals segment dominated the global stem cell and regenerative therapy market owing to rise in hospital admissions for chronic disease treatment and increase in preference for stem cell therapies offered by hospitals
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North America to Lead Global Stem Cell and Regenerative Therapy Market
- In terms of region, the global stem cell and regenerative therapy market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global stem cell and regenerative therapy market in 2018 due to high prevalence of chronic diseases, increase in public & private players funding for research, and early adoption of novel stem cell therapies
- In 2016, the Government of Canada provided US$ 12 Mn funding to The Stem Cell Network (SCN) over two years, and in 2017 extended funding by US$ 6 Mn to March 31, 2019. Recently, the government once again partnered with SCN, providing US$ 18 Mn over three years (2019–2022). SCN is an incorporated non-profit organization that supports stem cell and regenerative medicine research, training, and outreach activities across Canada.
- The market in Asia Pacific is expected to expand at a higher CAGR during the forecast period owing to increase in the geriatric population which is more prone to chronic diseases, rise in awareness among people about stem cell and regenerative therapy, and surge in health care expenditure
Key Manufacturers Operating in Global Stem Cell and Regenerative Therapy Market
Key manufacturers operating in the global market are:
- Novartis AG
- Caladrius Biosciences
- Daiichi Sankyo Company Limited
- Aldagen, Inc.
- Takeda Pharmaceutical Company Limited
- Gamida Cell Ltd.
- Astellas Pharma, Inc.
- Capricor Therapeutics
- ReNeuron Group plc
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