The stem cell therapy market size is anticipated to record a valuation of USD 18.6 billion by 2027, according to the most recent study by Global Market Insights Inc.
Rising prevalence of chronic diseases is predicted to upsurge the demand for stem cell therapies. Prevalence of chronic diseases such as muscular dystrophy, neurological disorders and other diseases is increasing in developed as well as developing regions. In addition, chronic diseases such as cancer weakens the body’s immune system and makes body susceptible to other chronic conditions. Therefore, body becomes resistant to the conventional drugs and therapies. In such conditions, stem cell therapies have proven to be beneficial. Also, stem cell therapy eliminates risks of invasive surgical procedures, thus making it popular among the diseased population.
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Autologous stem cell therapy market accounted for USD 5.3 billion in 2020. Autologous stem cells possess unique properties such as they are capable of dividing and renewing themselves for long periods as well as ability to give rise to specialized cells. Patients usually prefer autologous stem cell therapy, as it has minimum risk of immunological rejection. However, on introduction of allogenic stem cell therapy, demand for autologous stem cell therapy has declined as it is difficult to scale up. There are concerns regarding risk of cross contamination during large scale manufacturing of autologous stem cell lines may impede the segment growth to some extent.
The neurology segment held more than 21.3% of revenue share in 2020 led by the extensive usage of stem cell products in research processes carried out for developing treatments for neurological diseases. Stem cell therapies are effective in various neurological diseases including Parkinson’s disease, Alzheimer’s disease, and age-related macular degeneration, traumatic brain injury and glioblastoma. Furthermore, stem cell possesses self-renewal, multi-directional differentiation, neurotrophic properties, and immune modulation effects that will foster their demand for treating neurological disorders, thereby augmenting the industry growth.
The hospital segment in the stem cell therapy market valued at USD 4.9 billion in 2020 impelled by the availability of advance technological products in hospitals that provides promising results in treatment of wide range of diseases that are impossible to cure. Moreover, increasing government initiative to promote better healthcare in hospital will fuel the demand for stem cell therapy treatment in hospitals. Also, on introduction and approval of any novel stem therapy, hospitals implement it immediately, thereby supplementing he segment progression.
Asia Pacific stem cell therapy market is expected to witness 11.3% growth rate through 2027 due to the rising development of stem cell-based therapies. Also, the establishment of several stem cell banks coupled with government initiatives to develop regenerative medicine is poised to strengthen the market expansion.
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A few notable companies operating in the market include Astellas Pharma Inc, MEDIPOST, Novadip Biosciences, Mesoblast Ltd, and Takeda Pharmaceuticals. Industry players are focusing on various strategies such as acquisitions, business expansion and novel product launches to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Stem Cell Therapy Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By therapeutic area
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Stem cell therapy ecosystem analysis
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.8.1 Company matrix analysis
3.9 PESTEL analysis
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