Stem cells are widely used in regenerative medicine, particularly in dermatology. Oncology, on the other hand, is expected to grow at the fastest rate due to a large number of pipeline products available for the treatment of tumors or cancers. The market for stem cell therapy is expected to grow in future as the number of regenerative medicine centers increases. Umbilical cord is one of the richest sources of stem cells, with unique properties that outperform embryonic and adult stem cells. There is an increasing number of stem cell banks that work with hospitals to raise awareness about the storage of cord blood units in families, especially in emerging markets. The number of medical communities and government initiatives actively promoting the use of stem cells for treatment of more than 100 diseases is growing.

The COVID-19 pandemic has impacted many markets around the world. The prevalence of several chronic disorders in the acute stage is surging the demand for therapy, which, in turn, is increasing the demand for cell therapy. Rising healthcare investment leads to the development of cutting-edge technology and equipment. To control the spread of the virus and boost production, manufacturers opt for technologically advanced production technologies and reduced capacities. Healthy lifestyle adoption and increased healthcare expenditure are expected to drive the market growth. The rising prevalence of cancer, kidney, and chronic diseases necessitates the development of advanced diagnostic procedures. As a result, these factors are expected to fuel the market growth during the COVID-19 pandemic. As per Business Research Insights, the global stem cell therapy market size is anticipated to hit USD 1,007.5 million by 2026.

Business Research Insights Identifies the Following as the Top 7 Leading Stem Cell Therapy Players:

1. Osiris Therapeutics

Osiris Therapeutics, Inc. was founded in 1992 based on the stem cell technology discovered by Case Western Reserve University researchers led by Dr. Arnold Caplan. He recognized that this technology had enormous therapeutic potential. Osiris received the first regulatory approval in the world for Prochymal or remestemcel-L, a systemically administered stem cell drug. Osiris sold its MSC drug and patents to Australia's Mesoblast in 2013, and the drug was renamed Ryoncil.

Ryoncil was tested on a later-stage for ventilator-assisted COVID-19 patients with Acute Respiratory Distress Syndrome in a March 2020 pilot study at Mount Sinai Hospital in New York City. Based on the findings, the FDA approved a phase 2/3 study involving 300 patients at 30 locations across the U.S. In May 2020, the Cardiothoracic Surgical Trials Network, funded by the NIH and Mesoblast (the product's owner), began trials.

2. NuVasive

NuVasive is a San Diego-based medical device company. The primary focus of the company is the development of medical devices and procedures for minimally invasive spine surgery. NuVasive's products include surgical planning and monitoring software systems, access instruments, and implantable hardware. Degenerative disc disease, lumbar spinal stenosis, degenerative spondylolisthesis, cervical disc degeneration, early-onset scoliosis, and limb length discrepancy are all conditions that NuVasive’s products help treat.

3. Chiesi Pharmaceuticals

Chiesi, founded in 1935, focuses primarily on developing drugs for respiratory, neonatal, and rare disease conditions as well as those for treating muscular and skeletal conditions. It is a global pharmaceutical company controlled by an Italian family based in Parma, Emilia-Romagna. Chiesi has 30 global affiliates, nearly 6,389 total employees, and provides medicines to patients in 90 countries.

4. JCR Pharmaceutical

JCR Pharmaceuticals Co., Ltd., founded in 1975, develops, manufactures, and sells pharmaceuticals and raw materials. In addition, the company sells hospital and laboratory equipment. JCR Pharmaceuticals' products include leukemic drugs and hormonal agents such as genetically modified human somatotrophic hormone (growth hormone) and gonadotropic hormone.

5. Pharmicell Co., Ltd.

Pharmicell Co., Ltd. is involved in the biotechnology industry. Stem cell therapeutics, stem cell banking, bio-based business, and cosmetics are among the company's business areas. Pharmicell has dedicated itself to the research and development of stem cell therapy for incurable diseases. Pharmicell's unwavering dedication and efforts in stem cell therapeutic research resulted in NDA approval from the KFDA in 2011. The world's first stem cell therapy was successfully launched since then. Stem cell therapy has long been used to treat rare and incurable diseases. Pharmicell has concentrated on stem cell therapy for the treatment of various diseases by using bone marrow-derived mesenchymal stem cells and peripheral blood-derived hematopoietic stem cells.

6. MolMed

MolMed is a biotechnology company based in Milan and was founded in 1996. Initially, it provided contract manufacturing and other services to companies that develop gene therapy and stem cell therapy products. In 2000, the company changed its business model and began developing its own products. MolMed signed an agreement with San Raffaele Hospital in 2001 that gave it the option to license any gene therapy or cell therapy creation made at the hospital in the fields of cancer and HIV.

7. Takeda (TiGenix)

Takeda Pharmaceuticals was incorporated in 1925, after being founded in 1781. Actos (pioglitazone), a drug in the thiazolidinedione class used to treat type 2 diabetes, is one of the company's mainstays. It was first introduced in 1999. Takeda is a global pharmaceutical research and development company. It is Japan's largest pharmaceutical company and one of the industry's global leaders. It is dedicated to improving the health of patients worldwide through leading medical innovation. Takeda's ethical drugs are sold in over 100 countries around the world.

The current world health scenario states that the relaxation of lockdown and free movement of individuals will push the market forward.