by The Stem Cells Market is estimated to be valued at Us$ 12.9 Bn in 2022 and is expected to exhibit a CAGR Of 9.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stem cells are undifferentiated cells that can differentiate into specialized cells and can divide to produce more stem cells. They offer potential treatments and cures for a variety of diseases including diseases such as cancer, diabetes, neurological disorders among others. Stem cell therapies involve using stem cells and their derivatives to replace or repair damaged tissues. The major applications of stem cells include research, cell based assay development, drug discovery and development.
Market Dynamics:
Growing prevalence of chronic diseases such as cancer, cardiovascular diseases are expected to drive the market growth of stem cells over the forecast period. Cancer is one of the leading causes of death worldwide and according to World Health Organization, around 10 million deaths were registered due to cancer in 2020. Stem cell therapies are promising alternative treatment to treat cancer and various clinical trials are underway to evaluate stem cell safety and effectiveness in cancer treatment. Furthermore, rising investments in R&D activities from both private and public organizations is also boosting the stem cells market. For instance, according to data published by National Institutes of Health U.S., the funding for stem cells research has increased from $1.45 billion in 2014 to $1.85 billion in 2021. Additionally, favorable government regulations and increased awareness about benefits of stem cell based treatments are some other factors expected to fuel the market growth over the forecast period.
Segment Analysis
The global stem cells market can be segmented into adult stem cells and embryonic stem cells. Adult stem cells currently dominate the market due to less ethical issues and regulatory hurdles compared to embryonic stem cells. Adult stem cells can be obtained from various tissues such as bone marrow, peripheral blood, brain, skeletal muscles, skin, dental pulp, liver, and adipose tissue.
PEST Analysis
Political: Governments across major countries have established stringent regulations regarding the use of stem cells in research and therapy. However, some countries still face regulatory challenges.
Economic: The stem cells market is expected to witness high growth due to increasing investments from government and private organizations to support stem cell research for clinical applications.
Social: While stem cell therapy is accepted by some sections, use of embryonic stem cells face ethical issues related to use of embryos. This impacts the market growth of embryonic stem cells negatively.
Technological: Advancements in induced pluripotent stem cell technology, use of biomaterials, development of assays and protocols have boosted the development of stem cell-based therapies.
Key Takeaways
The global Stem Cells Market size was valued at US$ 12.9 Bn in 2023 and is expanding at a CAGR of 9.1% during the forecast period. Rapid advancements in regenerative medicine coupled with growing clinical trials are expected to drive the market.
Regionally, North America dominated the stem cells market in 2023 owing to rapid adoption of advanced treatment methods and presence of major market players in the region. The US accounted for the largest share in the North American stem cells market.
Key players operating in the stem cells market are Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation, Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies. These players are focused on developing advanced stem cell therapies and expanding their clinical research to diverse therapeutic applications.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
