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| Stem Cell Therapy Market Analysis |
The stem cell therapy market is estimated to be valued at US$ 54.14 Mn or Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Stem cell therapy involves the use of stem cells and their derivatives to treat
disease or repair damaged tissues. Mesenchymal stem cells derived from bone
marrow, adipose tissue, cord blood, placenta, etc. are widely used in various
regenerative applications including orthopedic, cardiovascular, neurological
disorders. The key advantages of stem cell therapy are its ability to stimulate
growth of new tissues, immunomodulatory properties and less rejection
possibility compared to traditional therapies.
Market Dynamics:
The growth of the stem cell therapy market is driven by rising incidences of
chronic diseases, increasing geriatric population, and technological
advancements in stem cell research. As per the World Health Organization,
chronic diseases accounted for around 60% of global deaths in 2016. With the
growing prevalence of cardiovascular diseases, neurological disorders,
diabetes, and cancer, the demand for safer and effective therapies is
increasing significantly. In addition, the rising share of the geriatric
population is expected to fuel the adoption of stem cell therapies globally as
aging populations are more prone to degenerative diseases. For instance,
according to the United Nations Population Fund, the number of people aged 60
years or over is expected to grow by 56% to reach nearly 2.1 billion by 2050.
Apart from demographics, ongoing research activities and clinical trials
focusing on expanding the application scope of stem cell therapies will
continue to boost market growth over the forecast period.
Segment Analysis
The Stem
Cell Therapy Market Analysis is primarily segmented into allogeneic
stem cell therapy and autologous stem cell therapy. The allogeneic stem cell
therapy segment dominated the market in 2022 and is expected to witness highest
growth over the forecast period due to increasing application in treatment of
blood cancers, metabolic disorders and autoimmune diseases. Allogeneic stem
cell therapy involves donor stem cells and hence carries lower risk of
rejection as compared to autologous stem cells.
PEST Analysis
Political: The stem cell therapy market is regulated by stringent regulatory
policies. However, supportive regulatory framework and funding for research is
driving the market growth.
Economic: Rising healthcare expenditure and increasing investment in cell-based
research is fueling the market expansion. The overall cost of stem cell therapy
is declining with technological advancements.
Social: Increasing prevalence of chronic diseases and awareness about potential
of stem cells in regenerative medicines is positively impacting the market.
Technological: Notable technological developments in cell processing, culture
media and cryopreservation techniques have enhanced the potential of stem cell
therapy in clinical applications. Advancements such as automated cell
processing are further supporting market growth.
Key Takeaways
The global stem cell therapy market size is expected to reach US$ 54.14 Bn by
2030, exhibiting a CAGR of 21% over
the forecast period. Rising prevalence of chronic diseases, increasing
geriatric population and favorable regulatory environment are the key factors
driving the market.
The North America stem cell therapy market accounted for the largest revenue
share in 2022 owing to presence of advanced healthcare facilities and increase
in clinical trials for applications in orthopedic disorders and cardiovascular
diseases in the region.
Key players operating in the stem cell therapy market are Magellan, Medipost
Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals
Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell
Technologies, Inc. These players are focusing on new product launches and
strategic collaborations to garner higher market share.
Read More: https://www.ukwebwire.com/stem-cell-therapy-market-trends/