Global Stem Cell Cartilage Regeneration Market, by Stem Cell Type (Hematopoietic Stem Cells, Pluripotent Stem Cells, and Mesenchymal Stem Cells), by Treatment (Microfracture, Osteochondral Transplant, Autologous Chondrocyte Implantation, and Others), by End User (Hospitals & Clinics and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 298.3 million in 2019, and is expected to exhibit a CAGR of 9.1% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights
Stem cell-based therapy is a key focus in functional replacement of cartilage regeneration. Rising incidence of osteoarthritis among the global population is expected to increase adoption of efficient and promising treatment such as stem cell therapy during the forecast period. There were 14 million individuals in the U.S. who has symptomatic knee osteoarthritis and nearly 2 million people under the age of 45 that were suffering from symptomatic knee osteoarthritis as per Arthritis Foundation, 2017.
Furthermore, growing engagement of key players in developing stem cell therapy as commercially viable, safe, efficient, and economical therapeutic agents for cartilage regeneration is expected to drive growth of the global stem cell cartilage regeneration market over the forecast period. For instance, organizations such as California’s Stem Cell Agency is indulged in the development of new stem cell-based therapies for chronic diseases such as cancer and rare diseases. Moreover, manufacturers such as Sangamo Therapeutics and Fate Therapeutics are working on developing stem cell-based therapies for diseases such as β-Thalassemia and cancer, respectively.
Furthermore, companies are also focusing on research and development activities, in order to launch novel products to increase their revenue in the stem cell cartilage regeneration market. According to Alliance for Regenerative Medicine, globally there were 946 clinical trials in progress in 2017, an 18% increase over the previous year.
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Rising mergers and acquisitions by major players to strengthen their share in this market is further expected to drive growth of stem cell cartilage regeneration market. For instance, in March 2015, Fujifilm Holding Corporation acquired Cellular Dynamics International, Inc. (CDI). CDI’s technology platform enables the production of high-quality fully functioning human cells, including induced pluripotent stem cells (iPSCs), on an industrial scale, which will help the Fujifilm Holding Corporation to strengthen their position in this segment.
Key Takeaways of the Global Stem Cell Cartilage Regeneration Market: