The global stem cell market size is expected to reach USD 15.63 billion by 2025, at a CAGR of 8.8% during the forecast period, according to a new report by Grand View Research, Inc. Amplifying research studies targeted at widening the utility scope of stem cell products is anticipated to drive the growth. These research projects are set to offer new opportunities for implementation of several clinical applications of stem cells. Thus, extensive research on exploring varied applications of stem cells would impact treatment options that aid in disease-modification.
In addition, collaborations targeted at achieving robust manufacturing of high-quality differentiated cells is expected open up new avenues of market expansion over the forecast period. Rapid transition from conventional treatment methods to regenerative medicine has been observed over the past few years. Regenerative medicine is set to become the new prototype of treatment in human health having the potential to address unmet medical needs across the globe. Integration of biologics, chemical compounds, materials, and devices is witnessed in stem cell therapeutics making it an interdisciplinary field.
Moreover, rising recognition of cellular therapies as an emerging revolutionary advancement has been witnessed in the healthcare industry in recent years. Business expansion is adopted by companies aiming at strengthening their portfolio regarding cellular therapy. This is expected to improve detailed understanding and future potential of stem cells for the of patients suffering from Parkinson's disease, diabetes, injuries associated with spinal cord, and other neurodegenerative disorders.
Further, a maturing and strongly diversified clinical pipeline is expected to contribute to the growth of stem cell market. Availability of latest data during the mid and late stage of the regenerative medicine clinical trials and increase in the product approvals regarding the same is expected to drive the market.
Adult stem cells displayed highest contribution in the market and is expected to maintain its dominance over the forecast period. Factors such as minimal ethical issues, lower rejection rates, and long-term renewal property associated with stem cells utility has contributed to the dominance of this segment. Moreover, the characteristic property of these cells to regenerate into malignant cells is anticipated to support the estimated share.
Scientists at Michigan State University revealed novel type of cells, named induced XEN cells, originated from a cellular trash pile in March 2016. The conclusions drawn from this research study is expected to drive emerging regenerative medicine treatment methods. In January 2019, research professionals at the University of Freiburg carried out research on the potential of mesenchymal stems cells in repairing damaged organs. This is further anticipated to boost research as well as sales in the market throughout the study period.
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Further key findings from the report suggest:
- Based on application regenerative medicine is estimated to hold a substantial market share in terms of revenue over the forecast period, owing to rise in emerging pipeline projects
- Progress of acquisition technology is expected to gain momentum during the forecast period owing to the rising research projects that demand the use of harvesting techniques
- Amongst the type of therapies used, autologous therapy accounted for the largest share of the stem cell market
- Likelihood of getting new infections is less in autologous cell-based therapy, consequently enhancing its adoption
- R&D activities carried out on large scale and huge funds granted by funding bodies to advance cellular research in U.S. have made North America the dominant region in the global market
- Vast research studies taking place in Singapore and Japan is anticipated to propel the Asia Pacific market in the forthcoming years
- Osiris Therapeutics Inc.; Celgene Corporation; BIOTIME, INC.; Cynata; Advanced Cell Technology Inc.; and STEMCELL Technologies Inc.; are some of the key market players
- The companies are undergoing strategic partnership to enhance their product line. They are keen on seeking investments from overseas organizations along with adopting partnership strategies with pharmaceutical organizations, which is set to fuel the market growth.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:Sherry James
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Grand View Research, Inc
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Information: www.grandviewresearch.com
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