by The global Stem Cell Therapy Market is estimated to be valued at US$ 54.14 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stem cell therapy is a type of regenerative medicine that involves the use of stem cells to repair or regenerate damaged tissues or organs of the body. Stem cells have the potential ability to develop into many different cell types in the body during early life and growth. The main advantage of stem cell therapy is its ability to trigger the body’s natural healing process by developing cells and tissues.
Market key trends:
One of the key trends driving the growth of the Stem Cell Therapy Market Analysis is the increasing adoption of digital education and resources on stem cell banking and therapy. The pandemic has accelerated the use of digital platforms to spread awareness about various regenerative therapies including stem cell therapy. Major industry players are developing online educational portals, mobile apps, webinars, and e-learning courses on how stem cell banking and therapies work. This is enhancing accessibility of information and driving greater adoption of these therapies over the forecast period. Moreover, digital education helps address major concerns and dispel myths regarding the therapeutic potential and clinical applications of stem cell therapy through an engaging learning experience.
Segment Analysis
The global stem cell therapy market is segmented on the basis of therapy type into allogeneic stem cell therapy and autologous stem cell therapy. The allogeneic stem cell therapy segment is dominating currently due to lower risks associated with it as compared to autologous stem cell therapy. Allogeneic stem cell therapy involves donor stem cells and hence it has lower risks of contamination.
Key Takeaways
The global stem cell therapy market is expected to witness high growth, exhibiting CAGR of 21.% over the forecast period, due to increasing prevalence of chronic diseases and rise in number of stem cell clinical trials.
The market size for stem cell therapy is expected to reach US$ 54.14 Mn in 2023.
Asia Pacific is expected to be the fastest growing region in the stem cell therapy market due to rising geriatric population, increased healthcare expenditure, and growing research activity in the field of regenerative medicines. North America dominated the global stem cell therapy market in 2022 due to high adoption of stem cell therapy to treat diseases such as cancer, orthopedic, and wound healing in the region.
Key players operating in the stem cell therapy market are Magellan, Medipost Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell Technologies, Inc. Magellan and Medipost Co. dominates the market currently due to their strong distribution network and wide portfolio of stem cell therapy products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
