Key drivers of the stem cell therapy market include increase in stem cell research funding, expanding number of clinical trials related to stem cell therapies, and growing number of GMP-certified cell therapy production facilities. However, high costs associated with the development of stem cell therapy along with the ethical concerns related to embryonic stem cells are likely to hamper the market growth to a certain extent.
Stem
Cell Therapy Market is projected to reach USD
558 million by 2027 from USD 257 million in
2022, at a CAGR of 16.8% during the forecast period, according to a new report
by MarketsandMarkets™.
Browse in-depth TOC on "Stem
Cell Therapy Market"
155 – Tables
43 – Figures
166 – Pages
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KEY MARKET DYNAMICS
1 DRIVERS
1 Availability of funding for stem cell research
2 Increasing GMP certification approvals for cell therapy production
facilities
3 Increasing clinical trials for stem cell-based therapies
2 RESTRAINTS
1 Ethical concerns related to embryonic stem cells
2 High cost of cell-based research
3 OPPORTUNITIES
1 Emergence of iPSCs as an alternative to ESCs
2 Growing demand for cell & gene therapies
4 CHALLENGES
1 Technical limitations associated with
manufacturing processes
Market Segmentation
The global stem cell therapy market is segmented into adipose
tissue-derived MSCs (mesenchymal stem cells), bone marrow-derived MSCs,
placenta/umbilical cord-derived MSCs, and other cell sources.
Based on therapeutic application, the global stem cell therapy
market is segmented into musculoskeletal disorders, wounds & injuries,
cardiovascular diseases, surgeries, inflammatory & autoimmune diseases,
neurological disorders, and other therapeutic applications.
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Regional Analysis
The Asia Pacific region
is estimated to grow at the highest CAGR in the stem cell therapy market during
the forecast period. Japan and South Korea are the key revenue contributors of the Asia Pacific stem cell therapy market. Favorable government
support for product approvals and the presence of major players in these
countries are anticipated to drive the regional market growth.
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