Stem Cell Therapy Market Increasing Awareness Related to the Stem Cells Therapy in Effective Disease Management
According to The Insight Partners market research study of ‘Stem Cell therapy Market to 2027 – Global Analysis and Forecasts by Type, Treatment, Application, and End User.’ The global stem cell therapy market is expected to reach US$ 5,129.66 Mn in 2027 from US$ 1,534.55 Mn in 2019. The market is estimated to grow with a CAGR of 16.7% from 2020-2027. The report provides trends prevailing in the global stem cell therapy market and the factors driving market along with those that act as hindrances.
Stem cells are preliminary body cells from which all other cells with specialized functions are generated. Under controlled environment in the body or a clinical laboratory, these cells divide to form more cells called daughter cells. Due to the advent of modern health science, these cells play a major role in understanding the occurrence of diseases, generation of advanced regenerative medicines, and drug discovery. There are certain sources such as embryo, bone marrow, body fats, and umbilical cord blood amongst others, where stem cells are generated. The global stem cell therapy market is driven by factors such as increasing awareness related to the stem cells therapy in effective disease management and growing demand for regenerative medicines. However, high cost related with stem cell therapy is likely to obstruct the growth of the stem cell therapy market during the forecast period. The growing research and development activities in Asia Pacific region is expected to offer huge growth opportunity for stem cell therapy market.
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Stem Cell Therapy Market: Competition Landscape and Key Developments
Leading companies operating in the stem cell therapy market are Medipost, pharmicell Co., Ltd., Holostem Terapie Avanzate S.R.L., Mesoblast Ltd., U.S. Stem Cell, Inc., Biotime, Inc., RichSource, Caladrius, TiGenix NV (Takeda Pharmaceuticals), and Genea Biocells among others.
Increasing Awareness Related to the Stem Cells Therapy in Effective Disease Management
Stem cell research has been widely investigated globally to enhance human health in a medical setting. For this, creating public awareness about stem cell research is vital for realizing this potential. The stem cell's main role is to replace dying cells and reconstruct damaged tissues. Based on the extensive stem cell research results, many scientists have claimed that the cells could probably generate cures and treatment for various diseases, including cancers, cardiovascular disease, and others. Newly developed stem cell therapies having the capability to replace disease, causing cells. Hence, patients now started relying on stem cell therapy that has long term positive outcomes. There is an increasing number of potential treatments that are undergoing in clinical trials phase. The FDA has approved very few stem cell therapies. For instance, in 2019, Fedratinib, approved by the FDA for the first-line treatment for myelofibrosis. Bone marrow transplantation is widely used stem cell based therapy. Blood forming stem cells were the first to be used in the clinic. This stem cell therapy has benefited thousands of patients who have leukemia.
Researchers are further investigating stem cell therapy in autoimmune disorder. Other adult stem cells based treatments are under clinical trials. Hematopoietic stem cells are currently used for treating more than 80 medical diseases, which include diseases of the immune system, blood disorders, neurological disorders, metabolic disorders, genetic disorders, and several types of cancers like leukemia, lymphoma, etc.
Stem Cell Therapy Market: Segmental Overview
The global stem cell therapy market, based on the type, is segmented into adult stem cell, induced pluripotent stem cells, embryonic stem cell, and other stem cells. Adult stem cell therapy is further segmented into hematopoietic stem cells, mesenchyme stem cells, neuronal stem cells, and umbilical cord stem cells. The adult stem cell segment held the largest share of the market in 2019. The same segment is estimated to register the highest CAGR in the market during the forecast period due to its effectiveness for the treatment of chronic conditions coupled with higher compatibility with immunity system. The end user segment is segmented into academic and research institutes and hospitals & specialty clinics.
Based on treatment, the stem cell therapy market is segmented into allogeneic and autologous. The allogeneic held the largest share of disease segment in the global market. However, autologous segment is expected to grow at the faster rate during the forecast period. Factors contributing in the growth of autologous market are low risk associated, affordable treatment and no risk of graft versus host diseases
Global Stem Cell Therapy Market – By Type
- Adult Stem Cell Therapy
- Embryonic Stem Cell Therapy
- Induced Pluripotent Stem Cell Therapy
- Other Stem Cell Therapy
Global Stem Cell Therapy Market – By Treatment
Global Stem Cell Therapy Market – By Application
- Drug Discovery and Development
- Other Applications
Global Stem Cell Therapy Market – By End User
- Hospitals and Specialty Clinics
- Academic and Research Institutes
Global Stem Cell Therapy Market– By Geography
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
- South America
- Rest of South America
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