Stem Cells Market is Expected to See a Growth of 10.4% from 2021-2028, Reaching US$ 25.68 Billion: TMR Study

Wilmington, Delaware, United States, April 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The market value of stem cells is also increasing due to the rising prevalence of chronic diseases such as cancer, diabetes, and cardiovascular disease. Stem cell therapy has shown promising results in the treatment of these conditions, and as the incidence of these diseases continues to rise, the demand for stem cell therapy is also expected to increase.

The global stem cells market stood at US$ 11.7 billion in 2020 and the global market is projected to reach US$ 25.6 billion by 2028. The global industry is anticipated to expand at a CAGR of 10.4% between 2021 and 2028.

Additionally, increasing investment in research and development in the field is also driving the demand for stem cells. Governments, academic institutions, and private companies are investing heavily in stem cell research, and this is leading to the development of new and innovative therapies that are expected to accelerate market growth.

Furthermore, the advancements in technology are another factor that is escalating the growth of the Stem Cells market. The development of new technologies, such as gene editing and 3D bioprinting, is enabling researchers to create more complex tissues and organs from stem cells, opening up new possibilities for stem cell therapies. Another major factor that is anticipated to augment the market prospect includes the increasing availability of stem cell therapies in emerging markets.

As healthcare systems in these markets continue to develop, there is increasing demand for advanced therapies, including stem cell therapy. In addition, the regulatory environment is also playing a key role in the growth of the stem cell market. In recent years, regulatory bodies have become more open to approving stem cell therapies, which has led to an increase in the number of stem cell therapies that are available to patients.

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Market Scope:

Key Findings of the Market Report

• On the basis of type, adult stem cell is likely to be most preferred, and expected to expand at a significant rate.
• This growth can be attributed to the increasing number of clinical trials and research studies being conducted on these cells, the favorable regulatory environment, and growing interest among researchers, clinicians, and patients.
• Based on the application, the regenerative medicine segment holds the highest market share, due to its potential to address a wide range of medical conditions, increasing interest among researchers and patients, and a favorable regulatory environment.
  

Global Stem Cells Market: Growth Drivers

• The global stem cells market is projected to expand at a steady pace from 2021 to 2028, due to the increased funding from governments, academic institutions and partnerships between companies.
• Another factor that is projected to augment the market growth includes the advancements in stem cell banking for future use.
• Additionally, the growing popularity of regenerative medicine is another factor that is anticipated to fuel the market prospects in the near future.
  

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Global Stem Cells Market: Regional Landscape

• North America is expected to dominate the Stem Cells market during the forecast period.
• The regional market is witnessing an increase, due to the presence of a large number of companies involved in stem cell research and development, as well as favorable regulatory environment and high levels of investment in the sector.
• Additionally, favorable regulatory environment, and high levels of investment in the sector in the region, are expected to further aid the market's growth
  

Competitive Landscape

Prominent players in the Stem Cells industry are taking advantage of the rapidly increasing demand for Stem Cells. To further their outreach, players are relying on collaborations, partnerships, and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:

• In March 2022, Sana Biotechnology announced that it had entered into a collaboration with Novartis to develop and commercialize new ex vivo gene therapies using Sana's engineered stem cells.
• In February 2022, Lineage Cell Therapeutics announced that it had entered into a licensing agreement with ViaCyte for the exclusive use of ViaCyte's encapsulation technology for the delivery of Lineage's cell therapies in the treatment of diabetes.
• In January 2022, Fate Therapeutics announced that it had received clearance from the U.S. FDA to begin a Phase 1/2 clinical trial of FT576, a CAR NK cell therapy derived from induced pluripotent stem cells (iPSCs) for the treatment of B cell lymphoma.
  

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Global Stem Cells Market: Segmentation

Type

• Adult Stem Cell
• Human Embryonic Stem Cell
• Induced Pluripotent Stem Cell
• Others

Source

• Autologous
• Allogenic

Application

• Regenerative Medicines
  • Neurology
  • Oncology
  • Cardiology
  • Others
• Drug Discovery & Development

End-user

• Therapeutics Companies
• Cell & Tissue Banks
• Tools & Reagents Companies
• Service Companies

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
  

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