The rising prevalence of rare genetic illnesses is expected to fuel the expansion of the stem cell therapy market. Rare disorders such as thalassemia, phenylketonuria, cystic fibrosis, and others affect millions of individuals each year. According to World Health Organization (WHO), chronic diseases cause 41 million mortalities every year, equivalent to 71% of all mortalities globally. Traditional therapies and pharmaceuticals have proven ineffective in addressing various ailments, thereby, people are increasingly turning to advanced stem cell therapies, which will boost industry numbers. Furthermore, developments in stem cell therapies that improve the pace of recovery in cancer patients are projected to increase their demand. Significant government funding and initiatives for regenerative medicine research and development activities in the developed region will further stimulate market growth. For instance, the Medical Research Future Fund (MRFF) announced the Stem Cell Therapies Mission as part of the 2019-20 budget. Nearly US$ 150 million was allocated by the Australian government to research and development of safe and effective medicines for all afflicted people.
Allogeneic stem cell therapy leads the global market
Allogeneic stem cell therapy is dominating the global stem cell therapy market in 2021 and is expected to continue to dominate the market over the forecast period. Allogeneic cells are widely used for the treatment of cancer due to their graft-versus-cancer effect. This effect enables immune system cells to cancer cells by using stem cells from the donor. The activated immune system response by the donor is relatively stronger than the recipient’s immune system. Moreover, allogeneic stem cells are commonly used to treat various cancer types including lymphomas, leukemias, and myelomas. On the other hand, the autologous stem cell therapy segment is expected to grow at the highest growth rate during the forecast period as it is associated with fewer complications. Also, some of the other factors augmenting the segmental growth of the market include affordability, low risks, and a high survival rate of patients.
Increasing R&D activities and growing focus on regenerative medicines to aid market growth in North America
The North America stem cell therapy market is expected to grow significantly owing to the increased research and development initiatives by industry participants in the area. The Canadian government and JDRF Canada announced a new research funding of US$ 6 million in November 2020 to speed up stem cell-based therapeutics for type 1 diabetes. The favorable government actions and technological breakthroughs in regenerative medicine will further bolster regional market growth. The stem cell therapy market is expected to develop significantly in Europe owing to an increase in the number of product approvals by regulatory bodies and the significant number of clinical trials in the region. The increasing focus of industry players and government entities on the development of stem cell therapies will further enhance the market growth. For instance, in January 2019, the Center for Beta Cell Therapy in Diabetes and ViaCyte Inc. announced a partnership for their first European clinical trial employing human stem cell-derived implants in T1D patients.
The stem cell therapy market in the Asia Pacific is expected to grow significantly, owing to an increase in the number of research programs and the establishment of new stem cell banks in the region. Further, the growing prevalence of chronic diseases is further augmenting the demand for advanced therapeutics such as stem cell therapies in the region. Additionally, an increase in the number of clinical studies for regenerative medicines, rising demand for organ transplantation, and the commercialization of regenerative medicine are all expected to improve Latin America’s stem cell industry. In the Middle East and Africa, rising healthcare infrastructure upgrades and increased research and development activities by prominent players would raise market demand.
Market Structure and Competitive Landscape
Some of the prominent players operating in the market include Celgene Corp. (Bristol Myers Squibb), ReNeuron Group PLC, BioTime Inc., Mesoblast Ltd., Seneca Biopharma Inc., Opexa Therapeutics Inc., Pluristem Therapeutics Inc., STEMCELL Technologies Inc., ThermoGenesis Holdings Inc., Astellas Pharma Inc., and Caladrius Biosciences Inc. among others. To grow their business, companies use techniques including new product launches, mergers and acquisitions, partnership and collaborations, etc.
- In March 2021, NOVADIP Biosciences S.A. gained FDA approval for its Investigational New Drug (IND) application for its autologous cell treatment product NVD-003. This strategy is expected to boost their market position by improving their product offerings and expanding their consumer base.
- In April 2020, Seneca Biopharma Inc. announced the completion of its new cell manufacturing facility in Suzhou, China. The company will manufacture NSI-566 in this new facility, which is the company’s leading stem cell therapy.
- In January 2020, Astellas Pharma Inc. signed a license agreement with Allele Biotechnology and Pharmaceuticals Inc., a cell-based medicines firm, with the goal of expanding Astellas’ access to Allele’s induced pluripotent stem cell (iPSC) technologies for various cell therapies.
Key Market Segmentation
RationalStat has segmented the global stem cell therapy market on the basis of product, therapy type, technology, therapeutic application, end use, and region.
- By Product
- Adult Stem Cells (ASCs)
- Others (Epithelial/Skin)
- Human Embryonic Stem Cells (HESCs)
- Induced Pluripotent Stem Cells (iPSCs)
- Very Small Embryonic-Like Stem Cells
- Adult Stem Cells (ASCs)
- By Therapy Type
- Allogeneic Stem Cell Therapy
- Autologous Stem Cell Therapy
- By Technology
- Cell Acquisition
- Bone Marrow Harvest
- Umbilical Blood Cord
- Cell Production
- Therapeutic Cloning
- In-vitro Fertilization
- Cell Culture
- Expansion and Sub-Culture
- Cell Acquisition
- By Therapeutic Application
- Cardiovascular & Myocardial Infraction
- Others (Wounds & Injuries, Liver Disorders, Diabetes, etc.)
- By End Use
- Research Organizations
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, white papers, research reports, trade fairs, and company documents.
- Available industry and market-related documents in the public domain.
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others.
- Whitepapers, research papers, and industry blogs
Why Buy this Report?
The report is intended for stem cell therapy solutions manufacturers, healthcare organizations, medical research organizations, regulatory agencies, government organizations, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global Stem Cell Therapy Market is expected to grow at a CAGR of approximately 9% during the forecast period 2022-2028.
The global market for Stem Cell Therapy was US$ 10.0 – 11.0 Billion in 2021.
One of the key trends in the market is the efficacy of stem cell therapy to treat patients with COVID-19.
North America is the leading region in the market.
Major companies operating in the global Stem Cell Therapy Market are Celgene Corp. (Bristol Myers Squibb), ReNeuron Group PLC, Mesoblast Ltd., and Seneca Biopharma Inc., and STEMCELL Technologies Inc. among others.