Stem Cell Therapy Market Insights
Stem cells are products derived from the human body. Stem cell therapy is also known as regenerative medicine. Regenerative medicine refers to a group of biomedical approaches (such as tissue engineering) to stem cell therapies. These therapies have the ability to regenerate human cells, tissues, or organs, in order to restore normal functioning of the body. Stem cell therapies are used for treatment and improvement of disease such as spinal cord injury, Parkinson’s disease, sickle cell disease, diabetes, and heart disease.
The global stem cell therapy market was valued at US$ 7,342.0 million in 2018, and is expected to witness a CAGR of 21.0% during the forecast period (2018 – 2026).
Figure 1. Global Stem cell Therapy Market Value Analysis (US$ Mn) and Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2019)
Increasing research and development activities are expected to drive growth of the stem cell therapy market
Increasing research and development activities are one of major factors driving growth of the stem cell therapy market. For instance, in January 2010, the Augusta University (U.S) initiated Phase I clinical trial to evaluate the safety and effectiveness of a single, autologous cord blood stem infusion for treatment of cerebral palsy in children. The study is estimated to complete in July 2019. Cerebral palsy is a severe, lifelong disability disease that affects children, and has various signs and symptoms such as poor coordination, stiff muscles, and tremors.
Moreover, increasing product launches by key players is expected to boost demand for stem cell therapy over the forecast period. For instance, in March 2017, Osiris Therapeutics, Inc., launched their product called Prestige Lyotechnology for long-term storage of living cells and tissues. Prestige Lyotechnology mainly focuses on placental products such as stem cells. Such technological advancements are expected to support the growth of the stem cell therapy market.
Stem Cell Therapy Market - Regional Analysis
Regional segmentation of the global stem cell therapy market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America stem cell therapy market is expected to account for the largest market share, owing to increasing research and development activities in the region. For instance, in February 2018, City of Hope Medical Center, U.S initiated clinical phase I study of the pre-transplant immunosuppressive therapy for haploidentical transplants in patients with sickle cell disease. The study is expected to complete in February 2023.
Moreover, Europe is expected to gain significant share in the global stem cell therapy market over the forecast period, owing to increasing number of approvals by regulatory authorities in the region. For instance, in November 2018, Novartis AG received an approval from the European Commission for its CAR-T (Kymriah) for treatment of B-cell acute lymphoblastic leukemia in pediatric and adult patients.
Asia Pacific is also expected to witness significant growth in the stem cell therapy market over the forecast period, owing to increasing number of research programs in the region. For instance, in March 2019, the Chinese Academy of Sciences (CAS) announced the launch of three stem cell clinic research programs for treatment of severe eye diseases and gynecological diseases. The program is registered by the National Health Commission and the National Medical Products Administration. The stem cell research programs are majorly focused on treatment of retinal pigment degeneration, ovarian dysfunction, and intrauterine adhesions in women.
Figure 2: Global Stem Cell Therapy Market Value (US$ Mn), By Region
Source: Coherent Market Insights Analysis (2019)
Stem Cell Therapy Market - Competitive Landscape
Key players operating in the stem cell therapy market include, Osiris Therapeutics, Inc. Novartis AG, GlaxoSmithKline Plc., MEDIPOST Co., Ltd., Anterogen Co., Ltd. Pharmicell Co., Ltd. Holostem Terapie Avanzate S.r.l. JCR Pharmaceuticals Co., Ltd. NuVasive, Inc. RTI Surgical, Inc., and Fibrocell Science, Inc.
Stem cells are divided into two major classes; pluripotent and multipotent. Pluripotent cells are stem replicating cells which are derived from the embryo or fetal tissues. The pluripotent stem cells facilitate the development of cells and tissues in three primary germ layers such as mesoderm, ectoderm, and endoderm.
Expansion of facilities related to stem cell therapies is expected to propel growth of the stem cell therapy market. For instance, in January 2018, the University of Florida, U.S. launched the Center for Regenerative Medicine that is focused on development of stem cell therapies for the treatment of damaged tissue and organ. The Centre for Regenerative Medicines is divided into two segments such as focus groups and shared services. Focus groups such as research and development activities for stem cell therapies; and the shared services segment provides technical resources related to stem cell therapies.
Furthermore, rising collaboration activities by key players are expected to drive growth of the global stem cell therapy market. For instance, in May 2018, Procella Therapeutics and Smartwise Medtech Company collaborated with AstraZeneca Pharmaceuticals. Under this collaboration, AstraZeneca was able to utilize Procella Therapeutics’ stem cell technology for development of stem cell therapies in cardiovascular diseases.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section
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