(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Stem Cell Therapy Market: Analysis By Type, By Stem Cell Source, By Application, By End User, By Region Size and Trends Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering. The global stem cell therapy market value in 2023 stood at US$9.65 billion, and is likely to reach US$23.07 billion by 2029. The global stem cell therapy market value is projected to grow at a CAGR of 15.97%, during the forecast period of 2024-2029.
Stem cell therapy is a form of treatment that involves the use of stem cells to repair, replace, or regenerate damaged or diseased tissues in the body. Stem cells are unique because they have the ability to develop into different types of cells, such as muscle cells, nerve cells, or blood cells. This versatility makes them a valuable tool in regenerative medicine. While there are a growing number of potential therapies being tested in clinical trials there are only a few stem cell therapies that have so far been approved.
The stem cell therapy market has experienced significant growth over the years primarily due to rising prevalence and incidence of chronic diseases. Conditions such as musculoskeletal disorders, cardiovascular diseases, and neurological disorders have become increasingly prevalent, leading to a growing demand for innovative and effective treatments. Stem cell therapies have emerged as a promising solution, offering potential regenerative and therapeutic benefits for these conditions. Further, advancement in regulatory frameworks and increased public-private investments in developing innovative stem cell solutions have also played a crucial role.
Additionally, technological advancements in cell therapy manufacturing and the emergence of new technologies, such as induced pluripotent stem cells (iPSCs), have further propelled market growth. Other significant trends including increasing demand for regenerative medicine, positive shift towards personalized medicine, the emergence of iPSCs as an Alternative to ESCs, etc. are expected to drive market growth further.
Market Segmentation Analysis:
By Type: According to the report, the global stem cell therapy market is bifurcated into two segments based on the type: Allogeneic and Autologous.
Allogeneic segment acquired majority of share in the market in 2023 as allogeneic therapies involve the use of donor cells, which can be more readily available and scalable compared to autologous therapies, making them more attractive for both manufacturers and patients. On the other hand, autologous segment is the fastest growing segment due to due to its personalized approach, where stem cells are harvested from and returned to the same patient, minimizing the risk of immune rejection and enhancing treatment efficacy.
By Stem Cell Source: According to the report, the global stem cell therapy market is bifurcated into four sources of stem cells: adult stem cells, embryonic stem cells, induced pluripotent stem cells, and others.
Adult stem cells segment acquired majority of share in the market in 2023 due to their well-established applications, safety profile, and regulatory acceptance. Adult stem cells, such as those derived from bone marrow or adipose tissue, are already widely used in clinical practice for treating conditions like blood disorders and orthopaedic injuries.
Furthermore, adult stem cells have a lower risk of immune rejection when used in autologous therapies and are supported by a robust body of clinical research, making them a preferred choice for both providers and patients. While, induced pluripotent stem cells segment is expected to grow at the fastest CAGR during forecasted period due to their versatility and potential for personalized medicine. iPSCs can be generated from adult cells and reprogrammed to become any cell type, offering an advantage in developing customized treatments for a wide range of diseases. This flexibility, combined with their ability to bypass the ethical concerns associated with embryonic stem cells, positions iPSCs as a powerful tool in regenerative medicine and research.
By Application: According to the report, the global stem cell therapy market is bifurcated into six applications: musculoskeletal disorders, cardiovascular diseases, oncology, neurological disorders, dermatology and others.
Musculoskeletal disorders segment acquired majority of share in the market in 2023, due to the high prevalence of conditions such as osteoarthritis, degenerative disc disease, and sports injuries, which are increasingly being addressed with stem cell-based treatments. Stem cell therapies offer promising solutions for repairing and regenerating damaged tissues, such as cartilage and bone, which are critical in treating musculoskeletal issues. On the other hand, oncology segment is expected to grow at the fastest CAGR during forecasted period due to the increasing application of stem cell therapies in treating various types of cancer and improving patient outcomes.
Additionally, ongoing research is exploring the use of stem cells for developing targeted therapies, enhancing the effectiveness of conventional treatments, and addressing cancer metastasis. As advancements continue and new therapies receive approval, the oncology segment is poised for rapid expansion, driven by a growing need for innovative cancer treatments and improved survival rates.
By End-user: The report further bifurcates the market into three end-users: hospitals and specialty clinics, academic and research institutes and others.
Hospitals and specialty clinics segment acquired majority of share in the market in 2023 due to their central role in delivering advanced medical treatments and managing complex patient cases. Additionally, hospitals and specialty clinics are increasingly integrating stem cell treatments into their service offerings, driven by rising patient demand for innovative therapies and the growing availability of approved stem cell treatments. This focus on cutting-edge care and personalized medicine contributes to the segment's substantial market share and rapid growth.
By Region: The report provides insight into the stem cell therapy market based on the geographical operations, namely, North America, Europe, Asia Pacific, and rest of the world.
North America stem cell therapy market enjoyed the highest market share in 2023 due to its advanced healthcare infrastructure, significant investment in research and development, and a well-established regulatory framework that supports innovation and commercialization. The region benefits from a high number of leading biotech companies, extensive clinical trial activities, and substantial funding from both public and private sectors. Additionally, the presence of prominent research institutions and a strong focus on developing and adopting cutting-edge medical technologies contribute to North America's dominant position in the global stem cell therapy market.
While, Asia Pacific region has been experiencing the fastest growth in the global stem cell therapy market due to a combination of rapidly advancing healthcare infrastructure, increasing investment in biotechnology, and a growing emphasis on research and development. The region's large and diverse patient population, coupled with rising prevalence of chronic diseases, has heightened demand for innovative treatments. Additionally, favorable government policies, such as regulatory reforms and funding initiatives, along with cost-effective manufacturing capabilities, have attracted both domestic and international players to invest in stem cell research and therapy, further driving the market's expansion in this region.
Competitive Landscape and Recent Developments:
The global stem cell therapy market is partially fragmented catering to domestic and international demand. Players operating in the global stem cell therapy market focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as investments in research and development activities, new product launches, and expanding production capacities.
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