Increasing Research Activities on Stem Cells and Increasing Approvals of GMP Certified Facilities Are the Major Factors Driving the Growth of the Market
Hyderabad, India - July 22, 2021 /MarketersMedia/ —
Stem Cell Market size is forecast to reach $16.8 billion by 2026, growing at a CAGR of 9.4% during the forecast period 2021-2026. Stem cells grow in in-vivo as well as in-vitro environment. It is designed to perform medical treatment, heart diseases, and diabetes. Therapeutic cloning offers a great advantage for the gene therapy, gene editing, phenotypic screening, and reproductive medicine. Alkaline Phosphatase helps in identification of stem cells. Stem cell turn into specific cells to regenerate damaged tissues in people. They are found in adult tissues in small numbers including bone marrow. Increasing research activities on stem cells and increasing approvals of GMP certified facilities are the major factors driving the growth of the market. Growing demand for gene therapies, and increasing prevalence of chronic diseases is set to further enhance the overall market development of the Stem Cell Marker for the period 2021-2026.
Stem Cell Market Segment Analysis – By Stem Cell Therapy
Allogenic Stem Cell Therapy held the largest share in the Stem Cell Market in 2020 and is estimated to grow at a CAGR 8.4% during the forecast period 2021-2026. This is owing to the increasing incidences of cancer. It is used to kill the cancer cells by using immune system of the donors as the immune system of the donor is comparatively stronger than the recipient’s immune system. It is also used for treating leukemia, and myelomas. The demand for autologous stem cell therapy is increasing owing to the increasing application of these cells in clinical trials and increasing manufacturing standards. Autologous Stem Cell Therapy are estimated to register the higher CAGR over the period 2021-2026.
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Stem Cell Market Segment Analysis – By Therapeutic Application
Autoimmune Diseases held the largest share in the Stem Cell Market in 2020 and is estimated to grow at a CAGR 10.0% during the forecast period 2021-2026. This is owing to the autoimmune disorders that occurs from overactive immune response of a body and works against its own stem cells and causes the immune system to destroy its own body tissue. Autoimmune diseases have no permanent cure and they are almost chronic. 80 autoimmune diseases are there worldwide whose causes are unknown. Over 300 million patients suffer from this disorder, out of which around 70% - 80% autoimmune patients are women. Autoimmune Diseases are estimated to register the higher CAGR over the period 2021-2026.
Stem Cell Market Segment Analysis – By Geography
North America dominated the Stem Cell Market with a major share of 38.9% in 2020. This is attributed to the increasing prevalence of autoimmune disorders and increasing presence of government initiatives. Increasing healthcare expenditure, improving healthcare infrastructure, increasing penetration of new technology, and presence of major key players is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing development of stem cell based therapies and increasing government initiative for developing regenerative medicines.
Stem Cell Market Drivers
Increasing Prevalence of Cardiovascular Diseases
Increasing prevalence of cardiovascular diseases is increasing the growth of the Stem Cell Market. Some of the major factors of cardiovascular disease includes unhealthy diet, usage of tobacco, and physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, Four out of 5 cardiovascular deaths are owing to heart attacks and strokes. Thus, increasing the growth of the Stem Cell Market during the forecast period 2021-2026.
Growing Prevalence of Autoimmune Disorders
Growing prevalence of autoimmune disorders is increasing the growth of the Stem Cell Market. Autoimmune disease attacks the healthy cells, organs, and tissues. It can affect any part of the body that weakens the body function and can turn out to be life threatening. Women gets autoimmune disorders at much faster rate than men.Along with that, these diseases have no cure and sometimes it requires lifelong treatment for easing the symptoms. Thus, increasing the growth of the Stem Cell Market during the forecast period 2021-2026.
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Stem Cell Market Challenges
Inadequate Funding and High Cost Involved in The Treatment of the Diseases
Some of the factors that are set to impede the growth of the Stem Cell Market are inadequate funding and high cost involved in the treatment of the disease. Stringent government rules and ethical concerns related to stem cell is set to hinder the growth of the market.
Stem Cell Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Stem Cell Market. In 2020, the Stem Cell Market share is consolidated by the top ten players present in the market. The Stem Cell Market, top 10 companies are Caladrius, Opexa Therapeutics Inc., BioTime Inc., Astellas Pharma Inc., Nesoblast Inc., Biovault Family, Re Neuron Group PLC, Seneca Biopharmaceuticals Inc., Thermo Genesis Holdings Inc., and Virgin Health among others.
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