June 25, 2024
Stem Cell Therapy Market

The Global Stem Cell Therapy Market Growth Is Projected To Driven By Growing Geriatric Population

Stem cell therapy is a type of regenerative medicine that uses stem cells and their derivatives to restore damaged or diseased tissues and organs. Mesenchymal stem cells (MSCs) and hematopoietic stem cells (HSCs) are commonly used in autologous stem cell transplantation to treat blood cancers such as leukemia. Stem cell therapy has the potential to treat a wide range of diseases and disorders including cancer, cardiac damage after heart attack, neurological disorders, diabetes, rheumatoid arthritis, and others. The need for regenerative therapies is growing as more people are suffering from chronic diseases associated with aging. As the global geriatric population continues to rise dramatically, the demand for treatments using stem cells and tissue engineering is also on the rise.

The global Stem Cell Therapy Market is estimated to be valued at US$ 54.14 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the stem cell therapy market is the growing focus on cryopreservation of stem cells. Cryopreservation or freezing stem cells helps preserve them for future therapeutic use and also assists in building stem cell banks. Several private and public cord blood stem cell banks have emerged in the recent past for long-term preservation and storage of stem cells derived from umbilical cord blood, adipose tissue, and other sources. Such stem cell banking is gaining traction as it provides “insurance coverage” for treating diseases in future for which stem cell therapies may be available. Advanced cryopreservation technologies are enabling longer preservation periods and improved post-thaw stem cell viability, driving increased adoption of stem cell banking globally.

Porter’s Analysis

Threat of new entrants: Low cost of setting a stem cell therapy facility poses a medium threat. However, stringent regulations and high R&D costs create entry barriers.

Bargaining power of buyers: Individual patients have low bargaining power due to diseases. However, large hospitals and research institutes can negotiate on price and demand customized solutions.

Bargaining power of suppliers: Few companies have capabilities to supply high-quality stem cells, creating high supplier power. Suppliers can influence prices.

Threat of new substitutes: Alternatives like gene therapy, growth factors, and tissue engineering pose medium threat. However, stem cell therapy offers regeneration benefits with minimal side effects.

Competitive rivalry: Intense competition exists among global players to develop new applications. Companies compete on technology innovation, quality, effective marketing, and customer relationships.

Key Takeaways

The Global Stem Cell Therapy Market Size is expected to witness high growth. The global Stem Cell Therapy Market is estimated to be valued at US$ 54.14 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030.

Regional analysis: North America accounted for the largest market share in 2023 and is expected to continue dominating during the forecast period. High adoption rates in the US and Canada, large patient pool, presence of leading market players, and government funding for research drives the market. Asia Pacific is expected to grow at the fastest pace due to increasing stem cell banking facilities, growing medical tourism, and rising healthcare expenditure in China, India and Japan.

Key players: Key players operating in the stem cell therapy market are Mars Inc., Nestle SA (Purina), Church & Dwight Co Inc., The Clorox Company, Dr. Elsey€TMs, Oil-Dri Corporation of America, Pestell Pet Products, Zolux Sas, Cat Litter Company, and Healthy Pet. The market players are focusing on new product launches, geographical expansion, collaborations and acquisitions to gain market share and strengthen their positions in the stem cell therapy market.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it