Stem Cells Industry Overview
The global stem cells market size is expected to reach USD 18.4 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.8% during the forecast period. The market is driven by the rising number of stem cell banks, growing focus on increasing therapeutic potential of these, and extensive research for the development of regenerative medicines, among other factors.
Stem Cells Market Segmentation
Grand View Research has segmented the global stem cells market based on product, application, technology, therapy, and region:
Based on the Product Insights, the market is segmented into Adult Stem Cells (ASCs), Human Embryonic Stem Cells (HESCs), Induced Pluripotent Stem Cells (iPSCs), Very Small Embryonic Like Stem Cells.
- The adult stem cells (ASCs) segment dominated the market in 2020, with a share of 85.7%. The primary factors that contributed to the dominance of the segment include the presence of minimal controversial issues concerning ethics, immune-rejection, and tumorigenesis.
- The application of ASCs in regenerative medicines can be further attributed to the segment growth. The ASCs bioprocessing for regenerative medicine is anticipated to face challenges during process development.
- The MSC segment is anticipated to expand at the fastest CAGR during the forecast period owing to their potential use in autologous transplantation, large clinical trials conducted that marked its application in the treatment of various diseases and extensive research to explore its therapeutic applications.
- The induced pluripotent stem cells (iPSCs) segment is expected to witness a substantial CAGR of 9.3% through 2021-2028 owing to increasing investment for developing regenerative medicines using iPSC, ensured reproducibility and maintenance, capable of differentiation into all the cell types and high proliferative ability.
Based on the Application Insights, the market is segmented into Regenerative Medicine, Drug Discovery and Development.
- Regenerative medicine is held the largest market share of 89.1% in 2020 owing to increasing approval for stem cell therapies clinical trials targeting different diseases.
- For instance, in June 2020, Longeveron LLC announced Japan’s Pharmaceutical and Medical Devices Agency (PMDA) approval for the starting Phase 2 clinical trial for evaluating the safety and efficacy of their Mesenchymal Stem Cells (LMSCs) that can be used for treating aging frailty.
- Besides, several governments are investing heavily in the development of regenerative medicines. For instance, in March 2020, the Government of Canada invested around USD 6.9 million for regenerative medicine research.
- The drug discovery and development segment is expected to witness a lucrative CAGR of 9.4% from 2021 to 2028. The market products are witnessing increased penetration across drug discovery as it is useful in studying human disease etiology, identifying pathological mechanisms, and developing therapeutic strategies for tackling various diseases.
Based on the Therapy Insights, the market is segmented into Autologous, Allogenic.
- Allogenic stem cell therapy accounted for the largest revenue share of 58.2% in 2020. Allogeneic cells are extensively used owing to their graft vs-cancer effect for the treatment of cancer. With the help of this effect stem cells from the donor can use their immune system cell for killing cancer cells.
- Autologous therapy is expected to expand at a lucrative CAGR during the forecast period. The growth can be attributed to the advantages such as few changes of graft rejection hence it is associated with fewer complications.
- The other factors contributing to the growth of the segment consist of high survival rate of patients, affordability, no necessity for HLA typing for matching donor, low risk, and application of these cells can proceed without being tested in clinical trials or facing stringent manufacturing standards.
Stem Cells Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Companies are progressively receiving approval for their stem cell therapies. For instance, in April 2020, Mesoblast Ltd received clearance from U.S. FDA for an IND (Investigational New Drug application for MSC product candidate remestemcel-L.
Some prominent players in the global stem cells market include
- CELGENE CORPORATION
- ReNeuron Group plc
- Virgin Health Bank
- Biovault family
- Precious Cells International Ltd
- Mesoblast Ltd
- Seneca Biopharmaceuticals, Inc.
- Opexa Therapeutics, Inc.
- Pluristem Therapeutics Inc
- STEMCELL Technologies Inc.
- ThermoGenesis Holdings, Inc
- Astellas Pharma Inc.
- Cellular Engineering Technologies
- BioTime, Inc.
Order a free sample PDF of the Stem Cells Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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