Stem Cells Industry Overview
The global stem cells market size generated a revenue of USD 9.38 billion in 2020 and is expected to reach USD 18.4 billion by 2028, registering a CAGR of 8.8% during the forecast period.
The factors contributing to the growth include increasing demand for biologics, technological advancement in stem cell therapeutics, and a growing focus on the development of personalized medicines. The increasing focus on the treatment of neurological disorders contributes to the market expansion. According to the World Health Organization (WHO), around 7.1% of the total global burden of diseases is cerebrovascular diseases and neurological disorders. Hence, companies are conducting basic research and preclinical trials for testing the regenerative capacity of stem cells in the treatment of neurological conditions.
Gather more insights about the market drivers, restrains and growth of the Global Stem Cells Market
For instance, in May 2020 Celavie Biosciences advanced its 5-year exploratory study on Parkinson’s disease. The company is developing regenerative stem cell therapies for treating central nervous system disorders and Parkinson’s disease. Celavie Biosciences released successful results for their exploratory clinical trials of OK99 stem cells for Parkinson’s disease.
Moreover, the gaining popularity of personalized medicines is further contributing to the market growth. Researchers are discovering new procurement methods that can be further applied for developing personalized medicines. For instance, iPSC therapies are developed using a small amount of sample from a patient’s blood or skin cell that is later reprogrammed to form new cells and tissue for transplant. Hence, with the application of these cells, potential personalized medicines can be developed.
Furthermore, Companies are focusing on developing therapies for reducing different stress associated with COVID-19. The process has multimodal immunomodulatory mechanisms of action, which makes it a promising therapy for treating acute respiratory diseases.
Stem Cells Market Segmentation
Based on the Product Insights, the market is segmented into ASCs, HESCs, iPSCs and very small embryonic like stem cells
Based on the Application Insights, the market is segmented into regenerative medicine and drug discovery and development
Based on Therapy Insights, the market is segmented into autologous and allogenic
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Share Insights:
Key Companies Profile:
Companies are progressively receiving approval for their stem cell therapies. For instance, in April 2020, Mesoblast Ltd received clearance from U.S. FDA for an IND (Investigational New Drug application for MSC product candidate remestemcel-L.
Some key participants operating in the global stem cells market include:
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