Stem Cell Therapy Market Overview
factors like high patient survival rate, low cost, no need for HLA typing for matching donors, minimal risk, and the possibility to use these cells without going through clinical trials or meeting strict manufacturing requirements will further propel the market growth.
The market is predominantly driven by the growing prevalence of various chronic diseases such as cancer, diabetes, hematopoietic disorders (leukemia, thalassemia, and others), degenerative disorders (osteoarthritis, Alzheimer’s disease, Parkinson’s disease, chronic renal failure, congestive cardiac failure,) and others. Additionally, enormously rising demand for stem cell therapy to control the growth of the above-mentioned diseases and disorders boost the market growth. Substantial investments made in R&D initiatives by government and private companies influence the growth of the market.
Stem cell therapy involves harvesting and processing a patient’s own stem cells, which are then populated on bio-absorbable polymer scaffold and surgical implants. It dramatically exceeds outcomes achieved with existing conventional treatment. Therefore, stem cell therapy now represents the biotechnology industry’s dominant, incumbent technology. Over the recent year, the stem cell therapy is gaining a huge market prominence, mainly due to its efficacy proven in the treatments of many chronic diseases such as diabetes, hematopoietic disorders, and degenerative disorders, among others.
Resultantly, the global Stem Cell Therapy Market is rising pervasively, witnessing increasing uptake of this therapeutics. The market is exploding with a number of researches currently ongoing, and there have been several breakthrough outcomes as well. According to Market Research Future (MRFR), the global stem cell therapy market was valued at USD 0.1 billion in 2022. The Stem Cell Therapy market is projected to grow from USD 0.12 Billion in 2023 to USD 0.28 billion by 2030, exhibitinga compound annual growth rate (CAGR) of 16.20% during the forecast period (2023 – 2030).
Stem Cell Therapy Market Players include Thermo Fisher Scientific Inc, AlloSource (US), RTI Surgical Inc (US), NuVasive Inc (US), JCR Pharmaceuticals Co. Ltd (Japan), HolostemTerapieAvanzateS.r.l. (Italy), Pharmicell Co., Ltd (South Korea), Anterogen Co., Ltd (South Korea), MEDIPOST Co., Ltd (South Korea), and Orisis Therapeutics, Inc. (US).
Stem Cell Therapy Market – Segments
MRFR has segmented the report into five dynamics to widen the scope of understanding,
By Technique : Primary (Direct) Stem Cell Therapy, Secondary (Indirect) Stem Cell Therapy, Salt Split Technique, Antigenic Mapping Method, Double Staining Method, Micro Immunofluorescence, and others.
By Product Type : Antibodies, Kits & Reagents, Instruments, Microscopes, Imaging Analysis Systems, Labeling Dyes & Species Product Type, and others.
By Application : Clinical research, Clinical Diagnostics, Infectious Diseases, Cancer, Cardiovascular Diseases, Autoimmune Diseases, Neurological Diseases, Research & Development, and others.
By End-user : Biotechnology Companies, Hospitals & Research Institutes, Contract Research Organizations, Diagnostic Centers, and others.
By Region : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
Stem Cell Therapy Market Regional Analysis
Based on region, the stem cell therapy market segmented into the Americas, Europe, Asia-Pacific and the Middle East and Africa. The Americas lead the market on account of factors such as growing healthcare expenditure and existence of heart diseases. After the Americas, Europe (Netherlands, France, Belgium and UK) grabs the second position. This can be attributed to factors such as the rising occurrence of osteoarthritis, cancer and stroke.
It is the Asia-Pacific which is the fastest growing region in this market and is likely to see further growth due to the increasing existence of smoking here. The Middle East & Africa (MEA) region holds a relatively smaller share of market due to lack of well-trained healthcare experts and low per capita income. However, both the increasing technology and oncology in the community and the hospital level are likely to positively influence the stem cell therapy market.
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