Stem cells are derived from the human cells. Stem cell therapy is also known as regenerative medicine. The therapy has 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 cells market is estimated to account for US$ 9,941.2 Mn in terms of value in 2020 and is expected to reach US$ 18,289.9 Mn by the end of 2027.
Global Stem Cells Market: Drivers
Increasing adoption of stem cells for the treatment of various diseases is expected to propel growth of the global stem cells market over the forecast period. For instance, in June 2019, Personalized Stem Cells, Inc. submitted an Investigational New Drug Application (IND) to the U.S. FDA for utilizing patients own adipose-derived stem cells to treat their osteoarthritis.
Global Stem Cells Market: Opportunities
R&D in stem cells is expected to offer lucrative growth opportunities for players in the global stem cells market. For instance, in January 2020, researchers at Biomedical Research Institute, MEDIPOST Co., Ltd., South Korea, reported analysis of the effects of spheroid umbilical cord blood-derived mesenchymal stem cells (MSCs) and suggested a new therapeutic approach, 3D spheroid formation of MSCs, in order to enhance the regeneration process in the course of osteoarthritis.
Global Stem Cells Market: Restraints
Government regulations against unethical harvesting of stem cells are expected to hinder growth of the global stem cells market. For instance, in the U.S., the ban on federal funding had been imposed since 1974, and was lifted as late as 2009. Ban has also been enforced in certain European nations such as Germany, Austria, Portugal and Italy and some Asian nations such as China, South Korea and Israel.
The global stem cells market was valued at US$ 9,112.0 Mn in 2019 and is forecast to reach a value of US$ 18,289.9 Mn by 2027 at a CAGR of 9.1% between 2020 and 2027. Major factor driving the growth of global stem cells market during the forecast period include increasing research and development, and increasing applications of regenerative medicine.
Adult stem cells held dominant position in the global stem cells market in 2019, accounting for 81.2% share in terms of value, followed by Human Embryonic Stem Cells and Induced Pluripotent Stem Cells, respectively. Increasing use of adult stem cells in regenerative medicine is supporting growth of the segment.
Adoption of stem cells in R&D is expected to propel growth of the global stem cells market. For instance, in December 2019, in the journal Cell Reports, researchers from the University of California Los Angeles reported development of accurate model of organ scarring using stem cells in a lab.
Moreover, approval and launch of novel CAR-T therapies is also expected to aid in growth of the market. 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.
Global Stem Cells Market: Competitive Landscape
Major players operating in the global stem cells market include, Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Bioheart Inc., Lineage Cell Therapeutics., BrainStorm Cell Therapeutics, Inc., California Stem Cell Inc., Celgene Corporation, Takara Bio Europe AB, Cellular Engineering Technologies, Cytori Therapeutics Inc., Osiris Therapeutics, and STEMCELL Technologies Inc.
Global Stem Cells Market: Key Developments
Major players in the market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in September 2020, Lineage Cell Therapeutics, Inc., ES Cell International Pte Ltd., a subsidiary of Lineage, and AgeX Therapeutics, Inc., a company focused on developing and commercializing innovative therapeutics for human aging, announced the broadening of their collaborative relationship with regard to ES Cell International Pte Ltd. stem cell lines.
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