The stem cell therapy market is estimated to be valued at US$ 54.14 Mn or Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stem cell therapy involves the use of stem cells and their derivatives to treat disease or repair damaged tissues. The major application areas of stem cell therapy include musculoskeletal disorders, wound healing, oncology, cardiovascular diseases, and others. Stem cells can divide and differentiate into specialized cell types and potentially repair or replace damaged tissues and cells.
Market Dynamics:
The growth of the Stem Cell Therapy Market Analysis is majorly driven by the increasing prevalence of chronic diseases globally. For instance, according to WHO, chronic diseases accounted for approximately 60% of the 57 million global deaths in 2008, and chronic diseases are projected to account for almost three quarters of all deaths worldwide by 2020. Furthermore, advancements in stem cell research and development of new therapies are also contributing to the market growth. For example, in 2021, EVERSANATM, a leading provider of commercial services to the life sciences industry, launched an exclusive stem cell therapy supply chain solution for clinical stage companies. Moreover, stem cell banking is also gaining traction, which is further expected to boost the market growth over the forecast period.
SWOT Analysis
Strength: Stem cell therapy offers potential cures and treatments for currently incurable diseases. It has minimal risk of transplant rejection and is non-invasive in nature. It also has ability to differentiate into specialized cell types.
Weakness: High costs associated with stem cell therapy procedures. Strict regulations and ethical concerns regarding the source of stem cells.
Opportunity: Rising incidence of chronic diseases and increasing demand for advanced treatment options. Growing public-private investments to support cell-based research activities.
Threats: Limited donor cells availability. Risk of tumor formation post transplantation of stem cells.
Key Takeaways
The global stem cell therapy market is expected to witness high growth, exhibiting CAGR of 21.% over the forecast period, due to increasing prevalence of chronic diseases. Asia Pacific region is anticipated to grow the fastest in the global market owing to rising healthcare expenditure, increasing awareness about stem cell therapy.
Regional analysis: North America dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to growing awareness among people and rising healthcare expenditure in the region. Asia Pacific exhibits the fastest growth due to large patient population, increasing healthcare expenditure and improving healthcare infrastructure.
Key players: Key players operating in the stem cell therapy market are Magellan, Medipost Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell Technologies, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it