Stem cells therapy is the use of stem cells to treat or prevent a disease or condition. Stem cells are special human cells that have the ability to develop into many different cell types such as brain cells and muscle cells. Stem cells are typically used for production of regenerative medicines. Regenerative medicine refers to a group of biomedical approaches (such as tissue engineering) to stem cell therapies. These therapies have the ability to regenerate human cells, tissues, or organs, in order to restore normal functioning of the body. Stem cell therapies are used for treatment and improvement of disease such as spinal cord injury, Parkinson’s disease, sickle cell disease, diabetes, and heart disease.
The global stem cell therapy market was valued at US$ 7,313.6 million in 2018, and is expected to witness a CAGR of 21.1% during the forecast period (2019 – 2027).
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Figure 1. Global Stem Cell Therapy Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
Market Dynamics- Drivers
Increasing research and development activities are expected to drive growth of the stem cell therapy market
Increasing research and development activities are expected to drive growth of the global stem cell therapy market during the forecast period. For instance, in January 2010, the Augusta University (U.S.) initiated Phase I clinical trial to evaluate the safety and effectiveness of a single, autologous cord blood stem infusion for treatment of cerebral palsy in children. The study is estimated to complete in July 2019. Cerebral palsy is a severe, lifelong disability disease that affects children, and has various signs and symptoms such as poor coordination, stiff muscles, and tremors.
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Increasing product launches by market players is expected to propel the global stem cell therapy market over the forecast period. For instance, in March 2017, Osiris Therapeutics, Inc., launched their product called Prestige Lyotechnology for long-term storage of living cells and tissues. Prestige Lyotechnology mainly focuses on placental products such as stem cells. Such technological advancements are expected to support the growth of the stem cell therapy market.
Regional Insights
Regional segmentation of the global stem cell therapy market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Among regions, North America stem cell therapy market is expected to account for the largest market share, owing to increasing research and development activities in the region. For instance, in February 2018, City of Hope Medical Center, U.S initiated clinical phase I study of the pre-transplant immunosuppressive therapy for haploidentical transplants in patients with sickle cell disease. The study is expected to complete in February 2023.
Europe is expected to account for significant traction in the global stem cell therapy market during the forecast period. This is owing to increasing number of approvals by regulatory authorities in the region. For instance, in November 2018, Novartis AG received an approval from the European Commission for its CAR-T (Kymriah) for treatment of B-cell acute lymphoblastic leukemia in pediatric and adult patients.
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Furthermore, Asia Pacific is expected to witness significant growth in the stem cell therapy market over the forecast period, owing to increasing number of research programs in the region. For instance, in March 2019, the Chinese Academy of Sciences (CAS) announced the launch of three stem cell clinic research programs for treatment of severe eye diseases and gynecological diseases. The program is registered by the National Health Commission and the National Medical Products Administration. The stem cell research programs are majorly focused on treatment of retinal pigment degeneration, ovarian dysfunction, and intrauterine adhesions in women.
Figure 2. Global Stem Cell Therapy Market Share (%), by Cell Source, 2019 and 2027
Source: Coherent Market Insights Analysis (2019)
Competitive Landscape
Key players operating in the global stem cell therapy market are Osiris Therapeutics, Inc. Novartis AG, GlaxoSmithKline Plc., MEDIPOST Co., Ltd., Anterogen Co., Ltd. Pharmicell Co., Ltd. Holostem Terapie Avanzate S.r.l. JCR Pharmaceuticals Co., Ltd. NuVasive, Inc. RTI Surgical, Inc., and Fibrocell Science, Inc.
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Detailed Segmentation:
- Global Stem Cell Therapy Market, By Cell Source:
- Adult Stem Cells
- Induced Pluripotent Stem Cells
- Embryonic Stem Cells
- Others
- Global Stem Cell Therapy Market, By Application:
- Musculoskeletal Disorders
- Wounds and Injuries
- Cancer
- Autoimmune disorders
- Others
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