Stem Cell Therapy Market is Expected to Reach $615 Million | MarketsandMarkets.
MarketsandMarkets Research Pvt. Ltd.
7 min read
MarketsandMarkets Research Pvt. Ltd.
Chicago, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Stem Cell Therapy market in terms of revenue was estimated to be worth $286 million in 2023 and is poised to reach $615 million by 2028, growing at a CAGR of 16.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Increased adoption of stem cell therapies across the globe along with rise in FDA approved stem cell therapies are some the major factors anticipated to drive the growth of the market. Rise in number of clinical trial candidates in past few years is likely to give momentum to the stem cell therapy market growth during the forecast period.
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Cell Source, Type, Therapeutic Application and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, the Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunity
The emergence of iPSCs as an alternative to ESCs
Key Market Driver
Increased funding for stem cell research
Based on type, the global stem cell therapy market is segmented into allogeneic and autologous stem cell therapy. The allogeneic segment accounted for the largest share of the market in 2022. Various advantages of allogenic stem cells such as convenient production and feasible for scaling up is one of the major factors uplifting the segmental market share. Additionally, allogeneic stem cell products provide an off-the-shelf treatment supply for several patients, owing to the production of multiple batches of therapeutic stem cells via single donation.
Based on source, the stem cell therapy market is segmented into adipose tissue-derived MSCs, bone marrow-derived MSCs, placental/umbilical cord-derived MSCs, and other cell sources. In 2022, adipose tissue-derived MSCs segment accounted for the dominant share of the market in 2022. The dominant share of this segment can be attributed to the increased demand for adipose-tissue in wound &surgical applications and inflammatory diseases.
Based on the therapeutic area, the stem cell therapy market is segmented into musculoskeletal disorders, wounds & surgeries, cardiovascular diseases, inflammatory & autoimmune diseases, neurological disorders, and other therapeutic applications. In 2022, musculoskeletal disorders accounted for the largest share of the stem cell therapy market. The rising prevalence of musculoskeletal disorders coupled with increasing approvals for novel stem cell therapy are some of the major factors projecting the market growth.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In 2022, North America accounted for a dominant share of the stem cell therapy market followed by Europe. The region held a dominant share due to increased funding for stem cell research coupled with increased FDA apporvals in US. In April 2023, US FDA approved Omisirge a is a nicotinamide modified allogeneic hematopoietic progenitor cell therapy derived from cord blood indicated for use in adults and pediatric patients 12 years and older with hematologic malignancies.
In April 2023, US FDA approved Omisirge (omidubicel-onlv), a substantially modified allogeneic (donor) cord blood-based cell therapy.
In July 2022, CORESTEM (South Korea) continued enrolling participants for the Phase 3 clinical trial of NeuroNata-R. This therapy has received conditional approval for treating ALS patients in South Korea
In September 2020, Stemedica Cell Technologies received investigational new drug (IND) approval from the US FDA for intravenous allogeneic mesenchymal stem cells (MSCs) to treat moderate to severe COVID-19.
Key Market Stakeholders:
Stem cell Research Institutes
Cancer research institutes
Stem cell therapy raw material suppliers
Biotechnology & biopharmaceutical companies
Drug manufacturers, vendors, and distributors
Academic & government research institutes
Venture capitalists & investors
Government organizations
Private research firms
Academic & Research Institutes
Research & development (R&D) companies
Hospitals and Speciality Clinics
Report Objectives:
To define, describe, and forecast the stem cell therapy market based on type, cell source, therapeutic application and region
To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, opportunities and trends)
To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall stem cell therapy market
To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Rest of the World
To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the stem cell therapy market.
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
