According to Precedence Research, the global stem cells market was estimated at USD 9.3 billion in 2020 and predicted to hit over USD 17.79 billion by 2027, expanding growth at a CAGR of 8.61% over forecast period 2020-2027.
Global stem cells have acquired noteworthy attention from the multi-sectored community of scientists. Growing investment in stem cells research and the exponential success of regenerative medicines are projected to propel the market growth. Another growth rendering factor for the global stem cells market is increasing number of clinical trials across the globe. Stem cell technology has garner importance over the last few years as it is used to treat the diseased organs, damaged tissues and regenerative medicines. Increasing number of stem cells banking and government initiatives drives the growth of the stem cells market in emerging countries.
Additionally, growing awareness among regarding storage of stem cells has positively impacted the market propagation. However, growing awareness about alternative procedures is likely to hinder the market growth. Nonetheless, growing stem cell-based research and investment by pharmaceutical and biopharmaceutical companies will significantly propel the market growth over the forecast period.
In terms of application segments the oncology segments exhibited the highest growth rate owing to the existence of various pipeline products for the treatment of cancer and tumors.Increasing regenerative medicine centers are expected to increase the prospects for stem cells in near future.
Depending upon the product, the global stem cell market is classified into adult stem cell, human embryonic stem cells, very small embryonic like stem cell, and induced pluripotent stem cell.
Among these, adult stem cells dominated the global market in 2020 and is expected to hold the dominance over the forecast period owing to less contamination risk integrated with sub-culturing, less need of production labor and compatibility with the human body.
Amidst different technology segments, the cell acquisition technology dominated the stem cells market in 2020. Increasing awareness about the exponential significance of stem cells has propel to noteworthy growth in cell harvesting, which resulting in growth in the global stem cells market. Generally, the most common method used in order to cell acquisition is the bone marrow harvest as the tissues recovery from bone marrow stem cells is relatively faster.
Allogeneic therapy acquired largest market share among different therapy segments in 2020. The benefit of allogeneic stem cell is that the donor stem cells male their own immune cells which can help destroy cancer cells that may remain after high-dose treatment. This graft-versus-cancer is used in prevention of cancer relapse. The incidences of cancer relapse increasing significantly, generally it takes place within 1 year after therapy and these happenings are noticed in children and people suffering from oropharyngeal and breast cancer These facts are in turn accelerating growth of allergic therapies segment.
The autologous segment is expected to grow at robust growth rate over the forecast period owing to low risk associated with autologous therapy.Another major factor expected to fuel the growth include increased survival, affordability, reduced risk of graft-versus-host diseases and no requirement for recognition of HLA-matched donor.
In 2020, North America ledthe stem cells market in terms of revenue owing to huge R&D investments in cytological research. The increased number of clinical trials undergoing in the U.S. also drives the market growth in this region.Stem cells are highly used in regenerative medicines particularly in the dermatology sector. The U.S. and Canada with their well-developed healthcare infrastructure will encourage research and development activities and emerging players.
Stem cells market in Asia Pacific grows with the high CAGR on account of robust product pipelines in cell-based therapies and a huge patient pool.
Key Companies & Market Share Insights
Constant product advancements and enhancement in stem cell technology by the prominent market participants is escalating the competitive rivalry in the marketplace. Easy access to data via genomic, EHR databases, proteomich as fortified players to investigate numerous therapies to help in the treatment of beforehand untreatable conditions.The use of iPSC’s in order to grow stem cell therapies is also growing. For instance, Takeda Pharmaceutical Company Limited collaborated with The Cnter for iPS Cell Research and application for the development and commercialization of iPScell-derived chimeric antigen receptor T-cell therapy. The iCART program is anticipated to enter clinical trials by 2021.
Few major key players involved in the global stem cells market include:
Scope of the Stem Cells Market Report
|Market Size||USD 17.79 Billion by 2027|
|Growth Rate||CAGR of 8.61% From 2020-2027|
|Historic Data||2017 to 2020|
|Forecast Regiod||2021 to 2027|
|Segments Covered||Product, Application, Technology, Therapy|
|Regional Scope||North America, APAC, Europe, Latin America, MEAN, Rest of the World|
|Companies Mentioned||STEMCELL Technologies, Inc., Osiris therapeutics, Inc., Cynata Therapeutics, Human Longevity, Inc., Advanced Cell Technology, Inc., BIOTIME, Inc.Mesoblast Limited, Promethera Biosciences S.A. N.V., Merck Group, Takara Bio Group.|
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of product, application, technology, therapy and region as follows:
By Regional Outlook
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