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Forecast Period
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2024-2028
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Market Size (2022)
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USD 261.07 Million
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CAGR (2023-2028)
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12.39%
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Fastest Growing Segment
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Allogenic Transplants
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Largest Market
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North America
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Market Overview
Global Stem Cell Therapy Market has valued at USD 261.07
Million in 2022 and is anticipated to project impressive growth in the forecast
period with a CAGR of 12.39% through 2028. Stem cell therapy, also referred to
as regenerative medicine, facilitates the repair response of diseased,
dysfunctional, or injured tissue through the utilization of stem cells or their
derivatives. It represents the subsequent phase in organ transplantation,
substituting donor organs—which are limited in availability—with cells. Stem
cells possess the capability to differentiate into various cell types within
the human body, functioning as a restorative mechanism. There exist two primary
classifications of stem cells: embryonic stem cells and adult stem cells. Stem
cells are further categorized into two major groups: pluripotent and
multipotent. Pluripotent stem cells, derived from embryos or fetal tissues,
undergo replication and contribute to the development of cells and tissues
within the mesoderm, ectoderm, and endoderm—the three primary germ layers.
Key Market Drivers
Increasing Technological Advancement in Stem Cell
Therapeutics
The progress of stem cell therapies has been
facilitated by advancements in stem cell isolation, expansion, and
differentiation techniques. Scientists are currently investigating different
sources of stem cells, such as embryonic stem cells, induced pluripotent stem
cells (iPSCs), and adult stem cells. Furthermore, emerging technologies like
gene editing (e.g., CRISPR) hold promise for improving the precision and
effectiveness of stem cell-based treatments. The constant awareness and
availability of stem cell therapies have triggered an increasing demand for
innovation and system development. Market players are actively seeking
collaborations to enhance their research and development activities, aiming to
expand the stem cell treatment market in both developing and developed nations.
Substantial funding has been invested in cell-based research, particularly in
the field of induced pluripotent stem cells. This technique involves genetic
reprogramming of adult human stem cells to obtain embryonic-like stem cells,
serving as a viable alternative in the market.
Surging Demand for Stem Cell Therapy
Stem cell therapy has garnered considerable
attention and acceptance owing to its potential in regenerative medicine. It
offers promise in the treatment of various conditions, including neurological
disorders, cardiovascular diseases, orthopedic injuries, and autoimmune
disorders. There has been a consistent growth in stem cell research, leading to
an increase in approvals from regulatory authorities. Consequently, the market
for stem cell therapy has experienced significant growth in the past and is
expected to continue growing during the forecast period. Ongoing research and
development activities in the field have also spurred demand for gene and cell
treatments utilizing stem cells. Furthermore, the rising number of registered
clinical trials is likely to have a considerable impact on market demand and
drive sales growth.
Increasing in Government Support for Research and
Development Activities
In developed nations and other countries with
strong purchasing power, the demand for innovative medicines is expected to
experience significant growth in the coming years. These medicines hold promise
for the treatment of various disorders, including cardiovascular, neurological,
and autoimmune conditions. The market for stem cell treatment or therapy is
projected to expand due to the increasing prevalence of these diseases
worldwide. The market has also witnessed growth in the past, fueled by
heightened funding. While using embryos in treatment raises ethical concerns,
it is important to acknowledge their potential in saving lives. Continuous and
development efforts have yielded innovative therapies. iPSCs are widely
utilized by researchers worldwide to conduct studies on cancer. This product
has been employed in clinical trials targeting diseases such as Parkinson's and
Alzheimer's, leading to a projected market growth in the coming years. During
the pandemic, researchers focused on developing treatments for combating the
COVID-19 virus, with the use of stem cells showing promise. To enhance research
activities in the stem cell market, the Australian government has made
significant investments and provided a comprehensive roadmap for the next
decade.
Rising Chronic Disorders
Chronic diseases are prevalent health issues
globally, affecting one out of every three adults worldwide. These conditions
encompass a range of ailments including cancer, musculoskeletal and neurologic
disorders, chronic injuries, and cardiovascular and gastrointestinal diseases.
They often necessitate hospitalization, long-term disability, diminished
quality of life, and can even be fatal.
Stem cells have been utilized in various clinical
trials for treating the virus, offering improved treatment options and
significantly reducing the number of cases. Furthermore, the use of
regenerative medicines may play a vital role in decreasing the infection rate
among individuals. Anticipated growth in demand for this product is expected in
the upcoming years, driven by an increase in clinical trials and obtaining
necessary approvals from regulatory authorities. With a rising prevalence of
chronic diseases worldwide, the demand for stem cell therapy is projected to
expand, presenting favorable market opportunities in the future.
Key Market Challenges
High-Cost Treatment
Developing and implementing stem cell therapies
involves significant research, clinical trials, and manufacturing costs. The
high costs associated with research, development, and production can limit
accessibility for patients. The expansion of the cell treatment market has been
hindered by its high cost. As individuals seek out the latest therapeutic
options, cell treatments have gained popularity as a treatment choice. Despite
the significant increase in demand, cell treatments remain prohibitively
expensive. Joint injections alone can cost up to $1,000, while more complex
procedures may reach up to $100,000. In the United States, the average cost of
stem cell therapy is projected to range between $4,000 and $8,000 per patient
in 2020. Consequently, the growth of the stem cell therapy market is
constrained by the elevated cost of treatment.
Competition with Established Therapies
Stem cell therapies may need to demonstrate
superiority over existing treatments to gain acceptance from medical
professionals, insurers, and regulatory bodies. Stem cell therapies are often
considered as potential alternatives or complements to established therapies in
various medical fields. While stem cells hold great promise, they also face
competition and comparisons with well-established treatment approaches. Stem
cell therapies require rigorous testing and regulatory approval to ensure
patient safety. The unpredictable behavior of stem cells and concerns about
potential side effects, such as tumor formation or immune responses, pose
challenges that must be addressed before widespread adoption.
Key Market Trends
Increased Clinical Trials and Research
The field of stem cell therapy is likely to see
continued growth in clinical trials and research studies. As scientists better
understand stem cell behavior and optimize their use, more evidence will be
generated to support their efficacy and safety for various medical conditions. Ongoing research will likely reveal new and
diverse applications for stem cell therapy across various medical conditions.
As the understanding of stem cells expands, scientists may identify previously
unrecognized opportunities for treatment.
International Collaboration
Collaboration among researchers and institutions on
a global scale could accelerate progress in stem cell research. Shared
knowledge and resources could lead to faster advancements and breakthroughs. Advances
in stem cell research could lead to more precise and personalized therapies. By
tailoring treatments to individual patients based on their specific needs and
genetic makeup, researchers can enhance therapeutic outcomes and minimize
potential risks. Successful outcomes from clinical trials could attract
investment and lead to the commercial development of stem cell therapies. This
could make these treatments more widely available to patients.
Segmental Insights
Type Insights
The allogenic stem cell
therapy segment achieved the highest market revenue in 2021 by establishing a
new immune system for patients through engraftment of donor cells. This
therapeutic approach offers potential treatment for various malignant and
non-cancerous disorders including acute leukemia, chronic leukemia, Hodgkin's
lymphoma, adrenoleukodystrophy, bone marrow failure syndromes, and more.
The rising number of cancer
patients has stimulated the demand for Omidubicel, an advanced cell therapy
specifically designed for individuals with blood cancer. Notably, in 2022, the
Managing Director of Duke Cancer Institute acknowledged the efficacy of allogenic
stem cell transplant using the novel cell therapy Omidubicel in a phase 3 trial
(NCT02730299), surpassing the standard myeloablative umbilical cord blood
treatment.
The growth of this segment
can be attributed to factors such as cost-effectiveness and the expansion of
stem cell banking. Additionally, numerous cell therapy companies are
redirecting their focus towards the development of allogenic cell therapy
products, which is expected to further propel the expansion of this segment.
Cell Source Insights
The adipose tissue-derived
mesenchymal stem cells segment emerged as the primary revenue contributor in
2022 and is expected to maintain its dominance throughout the forecast period
in the stem cell therapy market. This can be attributed to the growing number
of cancer patients, as well as the expanding target population, increased
exposure to harmful radiation, and government initiatives. Conversely, the bone
marrow-derived mesenchymal stem cells segment is projected to exhibit the
highest market growth during the forecast period, driven by a higher incidence
of chronic and fatal diseases like musculoskeletal disorders, and the rise in
tobacco smoking, including passive smoking, which is associated with cancer.