stem cell therapy market : Latest Trends, Demand and Analysis 2027
Market Research Future (MRFR) assessed the global stem cell therapy market is likely to exhibit a healthy CAGR to earn decent revenue by 2023.
Drivers and Restrains Impacting Stem Cell Therapy Market
The surge in awareness about therapeutic applications of stem cells in the management of several disease is expected to drive the expansion of the global stem cell therapy market in the near future. The growth of the stem cell therapy market can be attributed to the tremendous increase in the demand for effective therapeutic solution for malignancy and the prevent heart diseases, osteoarthritis, and stroke among others. The prevailing sedentary lifestyle, increase in consumption of alcohol, and rise in number of smokers can contribute the upsurge of the stem cell market in the years to come. On the contrary, the stem cell therapy market value generation can drop owing to the high expense of surgical procedures, chemotherapy treatments, the increase in risk of body cell rejecting cells derived from embryos. Problems with the approval of new stem cell therapies from drug regulatory authorities can also restrain the market growth.
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Segment Study of Stem Cell Therapy Market
The segment analysis of the global stem cell therapy market is done by type, cell source, therapeutic application, and end user.
The type-based segments of the global market of stem cell therapy are Allogeneic and Autologous. The autologous segment can thrive by 2023.
The therapeutic application-based segments of the global market of stem cell therapy are bone regeneration, medicine, cardiovascular diseases, wound healing, treatment of eyes, neurodegenerative disorders, metabolic disorders, cancer, hematopoietic disorders, diabetes, and immunodeficiency. The expansion of market can be attributed to the rise in demand for stem cell to treat neurodegenerative disorders.
The cell source-based segments of the stem cell therapy market are adipose tissue, neural, bone marrow, iPSCs, and embryo/cord blood-derived. The segment of embryo or cord blood-derived is expected to earn high revenue owing to the high traction of the product.
The end-user-based segments of the stem cell therapy market are biotechnology companies, hospitals, contract research organizations, research institutes, and stem cell banks.
Regional Analysis of Stem Cell Therapy Market
The stem cell therapy market in the Americas is likely to earn high revenue due to growing prevalence of several cardiac malaises and increase in healthcare expenditure. As per the Centers for Disease Control and Prevention, a large number of Americans were diagnosed with heart problem that can prompt the market upsurge in the near future. The rise in demand for heart patients in the region can contribute to the augmentation of the stem cell therapy market. Similarly, according to the American Cancer Society, the hike in cases of malignancy in the region has driven the oncologist to adopt stem cell therapy, which, can contribute to the uprise of the market in the near future. The increase in success rate of cancer treatment with stem cell therapy can favor the expansion of North America cell therapy market rise.
In Europe, the stem cell therapy market is studied for the UK, Belgium, Netherlands, and France. The stem cell therapy market in the region can secure the second largest share of the market during the forecast term. The rise in occurrence of osteoarthritis, stroke, and cancer is driving the adoption of stem cell therapy, which, in turn, can favor the market.
In the Asia Pacific region, the market of stem cell therapy can thrive at a healthy CAGR owing to the high rate of adoption of stem cell therapy. The increase in number of smokers in the region contribute to the rise in cases of lung cancer, which, in turn, can support the market growth in the years to come.
The Middle East Asia and Africa, the market of least share due to low per capita income and lack of availability of well-trained healthcare professionals. However, the rising oncology and technology both at the hospital level and in the community are expected to influence the market in a positive way.
Stem Cell Therapy Market Key Players
Osiris Therapeutics, Inc. (US), Anterogen Co., Ltd. (South Korea), MEDIPOST Co., Ltd. (South Korea), Pharmicell Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd. (Japan), Holostem Terapie Avanzate S.r.l. (Italy), NuVasive, Inc. (US), AlloSource (US), RTI Surgical, Inc. (US), and Thermo Fisher Scientific Inc are some major companies in the stem cell therapy market that are listed by MRFR.