The new report by Expert Market Research titled, ‘Global Stem Cell Market Report and Forecast 2023-2031’, gives an in-depth analysis of the global stem cell market, assessing the market based on its segments like types, treatment types, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 17.6 billion
- Forecast CAGR (2023-2031): 10.3%
- Forecast Market Size (2031): USD 42.6 billion
The stem cell business is growing due to an increase in activities to use stem cells in regenerative treatments due to their medicinal qualities. The increasing use of human-induced pluripotent stem cells (iPSCs) for the treatment of hereditary cardiac difficulties, neurological illnesses, and genetic diseases such as recessive dystrophic epidermolysis bullosa (RBED) is driving the market forward.
Furthermore, because human-induced pluripotent stem cells (iPSCs) may reverse immunosuppression, they serve as a major source of cells for auto logic stem cell therapy, boosting the industry’s expansion. Furthermore, the rising incentives provided by major businesses to deliver breakthrough stem cell therapies, as well as the increased use of modern resources and techniques in research and development activities (R&D), are propelling the stem cell market forward.
Because of increased research and development (R&D) in the United States and Canada, North America accounts for a significant portion of the overall stem cell business. Furthermore, the increased frequency of non-communicable chronic diseases such as cancer and Parkinson’s disease, among others, is boosting the use of stem cell therapy, boosting the industry’s growth.
Furthermore, the region’s strong healthcare sector is improving access to innovative cell therapy treatments, assisting the regional stem cell industry’s expansion. Aside from that, due to the rising use of regenerative treatments, the Asia Pacific area is predicted to rise rapidly. Furthermore, rising clinical trials are assisting market expansion due to low labour costs and the availability of raw materials in the region, contributing considerably to overall industry growth.
Stem Cell Industry Definition and Major Segments
A stem cell is a type of cell that has the ability to develop into a variety of cells, including brain cells and muscle cells. It can also help to repair tissues that have been injured. Because stem cells have the potential to treat a variety of non-communicable and chronic diseases, including Alzheimer’s and diabetes, they’re being used in medical and biotechnological research to repair tissue damage caused by diseases.
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The major product types of stem cell are:
- Adult Stem Cell
- Human Embryonic Cell
- Pluripotent Stem Cell
The market can be broadly categorised on the basis of its treatment types into:
- Allogeneic Stem Cell Therapy
- Autologic Stem Cell Therapy
- Syngeneic Stem Cell Therapy
Based on applications, the market is divided into:
- Neurological Disorders
- Orthopaedic Treatments
- Oncology Disorders
- Injuries and Wounds
- Cardiovascular Disorders
The EMR report looks into the regional markets of stem cell-like:
- North America
- the Asia Pacific
- Latin America
- the Middle East and Africa
Stem Cell Market Trends
The market is expected to rise due to increased research activity in regenerative medicine and biotechnology to personalise stem cell therapy. The usage of stem cells is predicted to increase as the need for treatment of common disorders, such as age-related macular degeneration (AMD), grows among the growing geriatric population. Due to multiple error bars during research operations, it becomes extremely difficult to characterise cell products because each cell has unique properties. As a result, the integration of cutting-edge technologies such as artificial intelligence (AI), blockchain, and machine learning is accelerating. Artificial intelligence (AI) is being used to analyse images quickly, forecast cell functions, and classify tissues in order to identify cell products, which is expected to boost the market growth.
With the rising frequency of cancer and cancer-related research initiatives, blockchain technology is increasingly being used to collect and assimilate data in order to improve access to clinical outcomes and the latest advances. Blockchain can also help with data storage for patients while improving the cost-effectiveness of cord-blood banking for advanced research and development (R&D) purposes. In addition, the use of machine learning techniques to analyse photos and infer the relationship between cellular features is boosting the market growth. The increased interest in understanding cellular processes and identifying critical processes using deep learning is expected to move the stem cell business forward.
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Key Market Players
The major players in the market are Pluristem Therapeutics Inc., Thermo Fisher Scientific Inc., Cellular Engineering Technologies, Merck KGaA, Becton, Dickinson and Company, and STEMCELL Technologies Inc… The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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