The Market growth is driven mainly by factors such as increasing investment in stem cell research and the rising number of GMP-certified stem cell manufacturing plants. However, factors such as ethical concerns and the high cost of stem cell research and manufacturing process likely to hinder the growth of this market.
The global stem
cell therapy market is projected to reach USD 401 million by 2026 from USD
187 million in 2021, at a CAGR of 16.5% during the forecast period.
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Market Segmentation
Based on the cell source from which stem cells are obtained, the
global market is segmented into four sources. These include adipose
tissue-derived MSCs (mesenchymal stem cells), bone marrow-derived MSCs,
placenta/umbilical cord-derived MSCs, and other cell sources (which includes
human corneal epithelium stem cells, peripheral arterial-derived stem cells,
and induced pluripotent stem cell lines). In 2020, adipose tissue-derived MSCs
accounted for the markets largest share due to their increasing utilization in
treating inflammatory diseases and wounds & injuries. There are several
associated advantages, such as ease of harvesting stem cells by minimally
invasive methods, simplicity of the isolation procedure, and better quality
& proliferation capacity of adipose tissue-derived stem cells.
Based on therapeutic application, the global market is segmented
into musculoskeletal disorders, wounds & injuries, cardiovascular diseases,
surgeries, inflammatory & autoimmune diseases, neurological disorders, and
other therapeutic applications (which include ocular diseases, fat loss, and
peripheral arterial diseases). In 2020, the musculoskeletal disorders segment
accounted for the largest share of the therapeutic application segment. The
large market share of this segment is attributed to the increasing prevalence
of musculoskeletal disorders such as osteoarthritis, bone repair, and regeneration
Regional Analysis:
The Asia Pacific region
is estimated to grow at the highest CAGR in the market during the forecast
period. Some of the major factors fueling the growth of the APAC market include
regulatory approvals and guidelines for product approvals and the presence of
major stem cell players in countries such as South Korea, Japan, India, and Australia.
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Top Key Players:
Key players in the Stem Cell Therapy Market include Smith &
Nephew (UK), MEDIPOST Co., Ltd. (South
Korea), Anterogen Co., Ltd. (South
Korea), PHARMICELL Co., Ltd. (South
Korea), JCR Pharmaceuticals Co., Ltd. (Japan), and NuVasive, Inc. (US).
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