- 29 October 2020 22:06
Stem Cells Market Size to Rake USD 17.79 Billion by 2027
The global stem cells market garnered revenue around USD 9.25 billion in 2019 and is predicted to exhibit a CAGR of 8.61% during the forecast period 2020-2027.
High target disease prevalence, product launches, and increasing strategic developments such as partnerships and agreements is driving the market for stem cells.
The market for stem cell is witnessing an increased growth owing to the increased number of clinical trials across the globe. Stem cells are used in regenerative medicine, especially in the field of dermatology. However, the stem cell applications in oncology will witness higher growth due to a large number of pipeline projects present for the treatment of cancer or tumors.
Stem cell banking is gaining significance with the initiatives from the government. The number of stem cell banks is increasing in developing nations, which is further driving the market growth. Also, increasing awareness regarding the storage of stem cells has had a positive effect on the market. The market is still at a nascent stage, but it holds potential in both therapeutic and diagnosis fields.
Development of advanced genomic analysis technique, introduction of effective guidelines for cell therapy manufacturing, huge amount of research by cancer societies and proven effectiveness of transplants are some of the primary growth stimulants for the market. Certain manufacturing and pharmacological issues and regulatory hurdles are hindering the growth of the market.
The COVID-19 impact:
The market will witness a huge surge as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A significant number of biotech firms are in the middle of the race to investigate the virus's genome and are preparing a viable vaccine. These companies are investigating the virus at an unprecedented rate, and considerable funds are being put into the research. The companies are in trial, and the public and private sectors are working continuously for the development of the vaccine.
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A latest study collated and published by Precedence Research analyzes the historical and present-day scenario of the global stem cell market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the stem cell market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the stem cell market is expected to progress during the forecast period 2020-2027.
The report offers intricate dynamics about the different aspects of the stem cell market that aids companies operating in the market in making strategic development decisions. The study elaborates on significant changes that are highly anticipated to configure the growth of the stem cell market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the stem cell market, and estimate statistics related to the market progress in terms of value (US$ Bn).
The study covers a detailed segmentation of the stem cell market, along with cross-country analysis, key information, and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the stem cell market, wherein, various developments, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Further key findings from the report suggest
- Allogenic Stem Cell Therapy held the largest market share. The market has an advantage as they produce their own immune stem cells, which has the potential to kill cancer cells that remain after high-dose treatment with cytotoxic drugs. Allogenic transplant is recommended for patients with a high risk of relapse after successive treatment of chemotherapy. An increase in the case of cancer relapse has fueled the demand for the segment.
- Successful clinical and commercial applications of stem cells require practical and robust cryopreservation protocols. Stem cells are notoriously sensitive to cryopreservation, which required specialized protocols to maintain the optimal cell viability and recovery.
- Induced pluripotent stem cells (iPSCs) procedure is used for the generation of a human organ for transplantation. This approach allowed different cells to self-organize into a complex organ and perform regular functions, including producing liver-specific proteins and metabolizing drugs. This method can reduce animal use in research by up to 50,000, as cells from one mouse can be used to treat 1,000 drug compounds for the treatment of liver diseases.
- The development of cutting-edge orthopedic treatments involve stem cell therapy which helps in pain relief and recovery time, it increases mobility and eliminates the need for medication and invasive surgery such as joint replacements. Regenerative medicine is forecasted to grow with a CAGR of 8.5% during the forecast period.
- North America is expected to account for a significant share of the global stem cell market. United States will be the primary contributor and is likely to witness high growth due to huge amount of funding by the government and private firms for clinical trials. - Key participants include Celgene Corporation, Virgin Health Bank, ReNeuron Group plc, Biovault Family, Mesoblast Ltd., Precious Cells International Ltd., Caladrius, Opexa Therapeutics, Inc., Neuralstem, Inc., and Pluristem, among others.
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- Adult Stem Cells
- Neuronal Stem Cells
- Mesenchymal Stem Cells
- Dental Stem Cells
- Umbilical Cord Stem Cells
- Adipose-derived Stem Cells
- HematopoieticStem Cells
- Dedifferentiated fat (DFAT) Cells
- Other ASC’s
- Very Small Embryonic Like Stem Cells
- Human Embryonic Stem Cells
- Induced Pluripotent Stem Cells
- Regenerative Medicine
- Liver Disorder
- Drug Discovery and development
- Cell Acquisition
- Bone Marrow Harvest
- Umbilical Blood Cord
- Cell production
- Therapeutic Cloning
- Cell Culture
- In-Vitro fertilization
- Expansion and Sub-Culture
- Allogenic Stem Cell Therapy
- Autologous Stem Cell Therapy
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Latin America