The major factors driving the growth of the market are expanding number of clinical trials of stem cell therapies, rise in stem cell research funding and and growing number of GMP-certified cell therapy production facilities. However, high costs associated with the development of stem cell therapy and treatment is anticipated to hamper the market growth in coming years.
The report Stem Cell
Therapy Market is projected to reach USD 615
million by 2028 from USD 286 million in 2023, at a CAGR of 16.5% during the
forecast period.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=48
Market Segmentation: -
The adipose tissue-derived MSCs segment dominated
the stem cell therapy market in 2022.
The global stem cell therapy market is segmented
into adipose tissue-derived MSCs, bone marrow-derived MSCs, placenta/umbilical
cord-derived MSCs, and other cell sources. Prominent factors such as easy
availability of adipose-derived stem cell tissues and its diversified
properties properties similar to other mesenchymal stem cells/tissues is likely
to uplift the demand for adipose tissue derived MCs.
In 2022, the musculoskeletal disorders led the stem
cell therapy market.
Based on therapeutic application, the global stem
cell therapy market is segmented into musculoskeletal disorders, wounds &
surgeries, cardiovascular diseases, surgeries, inflammatory & autoimmune
diseases, neurological disorders, and other therapeutic applications. The large
share of this segment can be attributed increasing prevalence of
musculoskeletal diseases. Increasing investment in stem cell therapy for
neurological diseases is likely to skyrocket the segment in coming years.
Regional Analysis: -
The Asia Pacific region is likely to grow at
faster pace during the forecast period.
The Asia Pacific is estimated to be the
fastest-growing segment of the market. The growth of the stem cell therapy
markets in the region is driven by a rising emphasis on strategic initiatives
such as partnerships, collaborations & expansion and increased adoption of
stem cell therapies among the patient population. The rising prevalence of
cancer and increased investment in research & development of the launch of
novel stem cell therapies in the region are some of the major factors
anticipated to upsurge the market growth.
Growth Driver: Increased funding for stem cell
research
Government initiatives and funding mechanisms exert
a pivotal influence on the dynamics of the market. Favorable regulatory
frameworks and financial support from governmental bodies play a catalytic role
in fostering an environment conducive to research and development in stem cell
therapies. The need for newer and better therapies for the treatment of
autoimmune, neurological, and cardiovascular diseases has resulted in an
overall increase in research activities and the availability of funding for
cell-based research. In December 2022, Alpha Stem Cell Clinic received an USD 8
million, five-year grant from the California Institute of Regenerative Medicine
(CIRM) for the study of the use of self-renewing cells to treat human
disease.
Growth Opportunity: The emergence of iPSCs as an
alternative to ESCs
Induced pluripotent stem cells (iPSCs) are adult
stem cells that have been genetically reprogrammed back to an embryonic stem
cell-like state. iPSCs function similarly to embryonic stem cells (ESCs),
having the ability to differentiate into specialized tissue cells according to
the gene expression; this makes iPSCs an effective alternative to ESCs. As ESCs
are derived from early-stage embryos, they are associated with socio-ethical
issues and laws related to contraception, abortion, and in vitro fertilization.
The use of iPSCs bypasses the need for human embryos, thus avoiding
socio-ethical objections.
Recent Developments of Stem Cell Therapy Industry
- 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.
Request for Sample Pages :- https://www.marketsandmarkets.com/requestsampleNew.asp?id=48
Key Players
The stem cell therapy market is competitive, with a
small number of players competing for market shares. Smith+Nephew (UK),
MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), CORESTEM
(South Korea), Pharmicell Co., Ltd. (South Korea), NuVasive, Inc. (US), RTI
Surgical (US), AlloSource (US), JCR Pharmaceuticals Co., Ltd. (Japan), Takeda
Pharmaceutical Company Limited (Japan), Holostem Terapie Avanzate Srl (Italy),
Orthofix (US), Regrow Biosciences Pvt Ltd. (India), and STEMPEUTICS RESEARCH PVT
LTD. (India) among others are some of the leading players in this market. Most
companies in the market focus on organic and inorganic growth strategies, such
as product launches, expansions, acquisitions, partnerships, agreements, and
collaborations, to increase their product offerings, cater to the unmet needs
of customers, increase their profitability, and expand their presence in the
global market.
No comments:
Post a Comment