Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Stem Cell Therapy Market – Market Insights
Stem cells are derived from the human cells. Stem cell therapy is also known as regenerative medicine. Regenerative medicine refers to a group of biomedical approaches (such as tissue engineering), which involves adoption of stem cells. 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 in the treatment of spinal cord injury, Parkinson’s disease, sickle cell disease, diabetes, and heart diseases.
The global stem cell therapy market size was valued at US$ 7,313.6 million in 2018, and is expected to exhibit a CAGR of 21.1% over the forecast period (2019-2027).
Figure 1. Global Stem Cell Therapy Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
Increasing research and development activities are expected to boost growth of the stem cell therapy market
Increasing research and development activities by the market players are one of the major factors that are expected to drive growth of the stem cell therapy market over the forecast period. For instance, in July 2018, the Emory Orthopaedics & Spine Center, in collaboration with Sanford Health, Duke University, Andrews Institute, and Georgia Institute of Technology, received US$ 13 million grant from the Marcus Foundation for a multicenter clinical trial studying stem cell options for treating osteoarthritis. The Phase 3 trial was initiated in March 2019, and is expected to complete by December 2021. Moreover, in December 2017, Mayo Clinic initiated the clinical phase I study on safety and feasibility of mesenchymal stem cell therapy in patients with intracerebral hemorrhage. This therapy is used for treating acute spontaneous hemorrhagic stroke. The study is expected to complete by December 2020.
Moreover, increasing product launches by key players is expected to boost demand for stem cell therapy over the forecast period. For instance, in August 2017, LifeCell, a healthcare service provider, launched an advanced umbilical cord-stem cell collection kit which offers enhanced protection to neonatal stem cells from environmental damage and temperature fluctuations.
Figure 2. Global Stem Cell Therapy Market Share (%), by Cell Source, 2019 and 2027
Source: Coherent Market Insights Analysis (2019)
Stem Cell Therapy Market - Regional Analysis
North America stem cell therapy market is expected to account for the largest market share over the forecast period, owing to increasing research and development activities by the market players 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 transplant in patients with sickle cell disease. The study is expected to complete by February 2023.
Moreover, Europe is expected to witness significant growth in the global stem cell therapy market over the forecast period, owing to increasing number of product approvals by regulatory authorities and rising number of clinical trials 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. Moreover, in January, 2019, the Center for Beta Cell Therapy in Diabetes and ViaCyte Inc. entered into a collaboration for their first European clinical trial involving human stem cell-derived implants among T1D patients. The trial was carried out by the Beta Cell Therapy Consortium with the support of Horizon 2020 grant from the European Commission.
Moreover, Asia Pacific is expected to witness significant growth in the stem cell therapy market over the forecast period, owing to increasing number of research programs and launch of new stem cell bank 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 was 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. Moreover, in January 2018, Lifecell Biotechnology launched a stem cell bank in India, which preserves and provides umbilical cord stem cells for stem cell transplantation. In a stem cell transplantation therapy, damaged and diseased cell or tissues are replaced or repaired by using stem cells. Hence, increasing launches of stem cell banks is expected to drive the stem cell therapy market growth over the forecast period.
Major players operating in the global stem cell therapy market include 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.