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