Stem Cell Therapy Market REPORT OVERVIEW
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The global stem cell therapy market size was USD 493.4 million in 2021 and is projected to touch USD 2778.38 million by 2031, exhibiting a CAGR of 18.9% during the forecast period
Stem cell therapy is a treatment process wherein regenerative cells are utilized to cure disorders instead of organs. It is an excellent treatment procedure that eliminates the need for organs and cures patients effectively. The development of advanced genome-based cell lines is expected to boost the adoption of cell transplants. The prevalence of several chronic disorders may propel market growth drastically. The therapy eliminates risks associated with immunosuppression risks, infections, and rejections. It eliminates the dependence upon organ donors and enables medical professionals to cure chronic diseases effectively. This therapy elevates the cell's reparative response and cures several complex organ failures.
The demand for cell therapy is increasing rapidly because of evolving consumer preferences and heavy investments. It can cure diseases such as cornea, cardiovascular diseases, and others. It is also termed a bone marrow transplant that enhances the patient's immune system to fight against cancers. As per the national cancer institute, approximately 1,806,590 cancer cases were reported in 2020. These factors will positively influence market growth.
COVID-19 Impact: Rising Demand for Advanced Medical Facilities to Fuel Market Growth
COVID-19 pandemic has negatively affected several markets globally. The demand for therapy is increasing rapidly because of the prevalence of several chronic disorders. COVID-19 infection leads to several organ disorders in the acute stage, thereby boosting the demand for cell therapy. The rising investments in the healthcare and medical sectors lead to the development of advanced gear and equipment. Manufacturers opt for technologically advanced production technologies and reduced capacities to control the spread of the virus and boost their production. Adoption of a healthy lifestyle and increased healthcare expenditure is expected to propel market growth. The increasing prevalence of cancer disorders, kidney disorders, and chronic disorders lead to the development of advanced diagnostic procedures. Therefore, these factors are estimated to fuel the market growth during the COVID-19 pandemic.
LATEST TRENDS
"Increasing Adoption of Cell Therapy in Organ Failure Treatment to Boost Sales"
Stem cell therapy is extensively used to cure organ disorders. It is an effective tool that eliminates the need for an organ donor. It enhances the cell's immunity against disorders and enhances its ability to withstand damages caused by infections or other damages. High costs associated with organ donors and the shortage of organ donors is responsible for the emergence of advanced cell diagnostic procedures. Recently, because of the COVID-19 pandemic, the rising cases regarding organ failures and other disorders increase the adoption of advanced therapies. It enhances the bone marrow's ability to regenerate cells and repair damages that the body has undergone. It is developed in a laboratory and functions like a normal cell. The cell transplant procedure is developed to solve risks associated with organ mismatch, bacteria, and other faults in organ transplants. Governments invest heavily in the development of advanced healthcare facilities to enhance the health of citizens and improve medical procedures. Therefore, the rising healthcare investments propel market growth considerably.
Stem Cell Therapy Market SEGMENTATION
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- By Type Analysis
By type, the market is classified into allogeneic and autologous.
The autologous segment is expected to lead because of its ability to cure the patient using its potent cells. It eliminates the need for a donor and is an effective method for curing patients. It is used extensively for curing spinal problems and several injuries. Autologous stem cell therapy is used to cure severe injuries. The transplant of the cell elevates the patients' healing abilities and improves the immune system of patients. Increasing cases of cardiovascular disorders lead to the adoption of stem cell therapy, thereby boosting industry growth
- By Application
Based on application, it is divided into cardiovascular diseases, cornea, wounds & injuries, musculoskeletal disorders, and others.
The cardiovascular diseases segment is estimated to dominate market growth because of the rising cases of cardiovascular diseases among the population. Inactive lifestyle and an unhealthy diet are mostly responsible for several heart disorders, hypertension, and cardiac arrests. As a result, the demand for cell diagnostics is increasing rapidly. These factors are likely to magnify the growth of the stem cell therapy market.
DRIVING FACTORS
"Emergence of Several Chronic Disorders to Enhance Adoption of Cell Diagnostic Procedures "
Increasing cases of chronic disorders among the population are responsible for the rising demand for advanced therapies. Sedentary lifestyles and unhealthy diets lead to the emergence of several health problems. As per the data published by the World Health Organization (WHO), the number of people suffering from chronic diseases in India touched 62%. People aged above 15 years are prone to suffer from the disorder in India. Cell therapy enables patients to tackle the disorder by boosting their immune systems. It is an effective treatment that ensures the optimum health of people in a city or region. The rising investments by manufacturers to develop equipment and tools required for the cure may boost the growth of the stem cell therapy market.
"Increasing Accidents and Cardiovascular Disorders to Escalate Growth"
Stem cell therapy is extremely useful to cure injuries and road accidents. It can cure patients suffering from impact to the spinal cord or huge cuts. As per the information published by WHO, approximately 1.3 million cases of road fatalities are reported every year. Stem cells enhance the bone marrow and help the body heal using regenerative cells, which, in turn, boosts their chances of recovery significantly. Furthermore, the rising cases of cardiovascular disorders such as heart diseases, blood clots, hypertension, cardiac arrest, and others. Cell therapy helps patients to recover from such diseases effectively. Governments invest heavily to develop advanced medical facilities that effectively cure several disorders and accidents. Therefore, the rising investments and adoption of advanced healthcare services fuel the demand for treatment, thereby driving the stem cell therapy market growth.
RESTRAINING FACTORS
"Immunological Rejection and Side Effects Associated with Cell Therapy to Restrain Industry Growth"
The issues regarding the immunological rejection of regenerative cells can negatively affect the adoption of the therapy. In certain cases, the body is unable to recognize the stem cell, which, in turn, leads to several side effects. Further, the side effects of the therapy such as nausea, headache, and fatigue are expected to negatively affect the reliability of the treatment. This factor may hamper its demand in the global market significantly. Additionally, the issues regarding the effectiveness of cell diagnostic procedures are likely to hinder the progress of the stem cell therapy market.
Stem Cell Therapy Market REGIONAL INSIGHTS
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"Developed Healthcare Infrastructure to Propel Market Growth in North America"
North America is projected to lead the stem cell therapy market share because of the developments in healthcare infrastructure. The rising cases of cardiovascular disorders and increasing investments in advanced medical facilities lead to the adoption of advanced healthcare facilities. Increased spending capacity and rising investment in advanced therapies in the region are responsible for the growth of the market. Rapid urbanization and the development of facilities are responsible for the growth of the market in the region.
Europe is expected to hold the second-largest market share because of rapid urbanization and the emergence of several industries. The prevalence of cardiovascular disorders escalates the demand for cell therapy. Pollution, deskbound jobs, and pollution are major factors that fuel the demand for advanced diagnostic procedures. These factors would propel the growth of the stem cell therapy market.
In Asia Pacific, rapid development and technological advancements in the healthcare and medical sector are expected to boost the growth of the market. Rising per-capita income and increased spending on the medical and healthcare sector would boost the adoption of cell transplants. Increasing cases of diabetes and heart disorders foster demand for stem cell therapy in India.
Key Industry Players
"Increasing Focus on Research and Development to Tackle Challenges Help Companies Grow"
The prominent companies operating in the market devise advanced strategies to mitigate challenges. The rising investments in research and development shall enhance the efficiency and reliability of the therapies, thereby enabling manufacturers to improve their sales. Furthermore, manufacturers partner with crucial players to commercialize allogeneic therapy in the market. For example, CRISPR Therapeutics and ViaCyte partnered with each other to commercialize and develop allogeneic cell therapy capable of curing diabetic disorders. Furthermore, manufacturers study the key trends of the market to develop advanced healthcare solutions that help curb cell-based disorders effectively.
List of Market Players Profiled
- Osiris Therapeutics
- NuVasive
- Chiesi Pharmaceuticals
- JCR Pharmaceutical
- Pharmicell
- Medi-post
- Anterogen
- Molmed
- Takeda (TiGenix)
Industry Development
- September 2019- Vertex Pharmaceuticals Inc announced its acquisition of Semma Therapeutics for a sum of USD 950 million. This strategy will enable Vertex to invest heavily in the development of transformative medications for patients suffering from severe disorders.
REPORT COVERAGE
This report offers an analysis of the recent market trends and the top segments. It comprehensively studies the impact of COVID-19 globally and the driving and restraining factors. Examines strategies deployed by the key players of the market and the regional developments. Additionally, it provides readers with a detailed overview of the entire market and its dynamic factors.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 493.4 Million in 2021 |
Market Size Value By |
US$ 2778.38 Million by 2031 |
Growth Rate |
CAGR of 18.9% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What will be the stem cell therapy market Size reach in 2031?
The stem cell therapy market size will reach USD 2778.38 million during the forecast period.
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What is the CAGR of the stem cell therapy market size in 2031?
The stem cell therapy market size would exhibit a CAGR of 18.9%% during the forecast period.
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What are the segments of the stem cell therapy market size?
The stem cell therapy market size is segmented by type allogeneic and autologous and by application into cardiovascular diseases, cornea, wounds & injuries, musculoskeletal disorder, and others.
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Which regions might see the demand maturing in certain segments in near future?
North America, Europe, Asia Pacific, and the Middle East & Africa are expected to witness demand in specific segments during the upcoming years.
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Which is the key factor driving stem cell therapy market size growth?
Increasing cases of cardiovascular disorders, chronic disorders, and road accidents may drive the stem cell therapy market size growth.
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Which are the top companies in the stem cell therapy market size?
Chiesi Pharmaceuticals, JCR Pharmaceutical, Pharmicell, Medi-post, Anterogen, Molmed, and Takeda (TiGenix) are the top companies in the stem cell therapy market size.