Stem cells have the potential to develop into many
different types of cells in the body. Stem cell therapies are used to replace
damaged or destroyed cells with healthy new ones. Stem cell therapies can be
used to treat many degenerative diseases and conditions such as Parkinson's
disease, diabetes, heart disease, and osteoarthritis. The growing prevalence of
chronic diseases coupled with the increased adoption of regenerative medicines
is expected to drive the global stem cell market during the forecast period.
The global
stem cells market is estimated to be valued at US$ 12.9 Bn in 2023 and is expected
to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted
in a new report published by Coherent Market Insights.
Market key trends:
The increasing investments by public and private organizations in stem cell
research is one of the major trends driving the growth of the global stem cells
market. For instance, the University of Cambridge received £210 million funding
in 2020 by the Wellcome Trust and Cancer Research UK for stem cell research.
Similarly, California Institute for Regenerative Medicine invested over $3
billion between 2015 to 2023 in stem cell research projects in California. The
rising funding is encouraging research activities in stem cells therapy
development and commercialization, which is expected to boost the market during
the forecast period.
Segment
Analysis
The global stem cells market is dominated by adult stem cells and cord stem
cells sub segments. Adult stem cells contribute over 50% market share owing to
their wide applications in diseases treatments including cancer, blood
disorders, neurodegenerative diseases etc. These cells have high proliferation
and differentiation ability to form other specialized cells. Cord stem cells
sub segment is the fastest growing segment growing at 8.5% CAGR during forecast
period. Umbilical cord blood being rich source stem cells and easy availability
is driving the growth of this segment.
Key Takeaways
The global stem cells market is expected to witness high growth during the
forecast period of 2023 to 2030. Global
Stem Cells Market Size is projected to reach US$ 12.9 Bn by 2024 from
US$ 8.1 Bn in 2021, registering a CAGR of 7.9% during the forecast period.
Regional analysis
North America dominates the global stem cells market with over 35% share.
Presence of advanced healthcare infrastructure, high adoption of stem cell
therapies and funding from government and private organizations for stem cell
research is boosting the market in the region. Asia Pacific is expected to grow
at fastest rate of 9% during forecast period. Increasing stem cell banking
facilities, rising healthcare expenditure and growing number of clinical trials
for stem cell therapies are contributing to the growth of market in the region.
Key players
Key players operating in the stem cells market are Abzena Ltd., Clarivate,
Immunetrics Inc., GNS Healthcare, Dassault Systemes, Evotec, Novadiscovery,
Insilico Medicine Inc., and InSilicoTrials Technologies. Abzena Ltd specializes
in development and manufacture of antibodies, proteins and stem cell products.
Clarivate is a leading provider of analytical tools and services to accelerate
the pace of innovation.
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