Market Highlights
Market Research Future (MRFR) evaluated the global stem cell therapy market 2020 for the review period 2018–2023. The stem cell therapy market can surge at 10.3% CAGR through the study period. The surge in awareness about disease management property of stem cells, as they have the ability to differentiate into specialized cells, is expected to support the expansion of the stem market in the near future. Neurological disorders, such as Alzheimer and Parkinsonism are difficult to treat with medication. Stem cell therapy for these disorders has been a breakthrough. The increase in cases of neuropathy, creating high requirement stem cell therapy can impact the expansion of the market in the review period. The rapid development in advanced genetic analysis techniques and support from the government in the same can propel the expansion of the market in the review period. However, lack of expertise can threat the global stem therapy market expansion. Meanwhile, increase in stem cell preservation bank can counter the market slow down through the analysis period.
Market Segmentation
The segment analysis of the stem cell therapy market size is done by therapeutic application, type, end user, and cell source.
The type-based segment of the stem cell therapy market are Autologous and Allogeneic.
The therapeutic application-based segment of the stem cell therapy market are bone regeneration, medicine, neurodegenerative disorders, cardiovascular diseases, wound healing, treatment of eyes, metabolic disorders, hematopoietic disorders, cancer, diabetes, and immunodeficiency among others.
The cell source-based segments of the stem cell therapy market size are bone marrow, adipose tissue, neural, embryo or cord blood-derived, and iPSCs.
The end-use based segments of the stem cell therapy market are contract research organizations, biotechnology companies, stem cell banks, and hospitals research institutes.
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Regional Analysis
The rise in cardiac patients in the North America region is anticipated to significantly contribute to the regional market acquiring a large portion of the world market. The surge in healthcare expenditure, increase in cases of congenital disorder, and surge in concern of parents towards their children are some additional forces that can contribute to the expansion of the stem cell therapy in the years ahead.
In Europe, the stem cell therapy market size is likely to experience surge in the near future. EU market drivers are similar to North America. However, the presence of different pharmaceuticals and hefty investment in RD of more promising stem cell therapies can add momentum to EU stem cell therapy market size in the forecast period. The increase in cases of osteoarthritis, stroke, and cancer among other disorders that require stem cell therapy is creating its demand, thus can prompt the stem cell therapy market across the analysis period. In addition, the growing cases of donating stem cell and successful stem cell transplants boosting demand for stem cell therapies can promote the expansion of EU market.
In Asia Pacific region, the stem cell therapy market can experience considerable growth pace in the review period. Middle East and Africa market can exhibit a steady rise due to lack of expertise and low per capita income. However, the penetration of modern medical technology can speed up the market rise.
Key Players
Thermo Fisher Scientific Inc, MEDIPOST Co., Ltd. (South Korea), Osiris Therapeutics, Inc. (US), Pharmicell Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd. (Japan), Holostem Terapie Avanzate S.r.l. (Italy), RTI Surgical, Inc. (US), NuVasive, Inc. (US), and AlloSource (US) are some well-established players in the stem cell therapy market that are listed by MRFR.
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