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The global stem cell therapy market size is estimated to grow by USD 11,659.09 at a CAGR of 15.93% between 2022 and 2027.
With increasing advances in science and technology, consciousness about stem cell therapy has also increased. However, the knowledge is limited to aspects such as the high cost and adverse effects of regenerative medicine and not scientific facts. The cost of stem cell therapy is only addressed in developing countries where large insurers provide incentives to employers to send patients abroad. In certain countries with universal healthcare coverage, individuals may be paid by the government to be treated in other countries. These steps improve patient accessibility, making stem cells a more feasible option. This has led to the development of stem cell tourism in which patients travel to countries that do not have strict regulatory restrictions on stem cell therapy.
Technavio has segmented the market into :
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The market share growth by the cancer segment will be significant during the forecast period. Cellular therapies are given to boost the ability of a patient's immune system to ability to fight cancer. They are made by taking a specific set of cells from the patient blood, they were altered and then administered back to the patient so that they would be more effective in attacking cancer cells.
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The cancer segment was valued at USD 2,536.64 million in 2017. Stem cell therapy for cancer treats blood-related diseases like non-Hodgkin lymphoma, Hodgkin lymphoma, multiple myeloma, and leUKemia. The market is expected to grow over the forecast period, owing to the increased use of cell therapy for cancer. These factors will drive the growth of the global stem cell therapy market during the forecast period.
Allogeneic transplants are preferred more than autologous transplants as the scaling-up process is less complex than autologous, and they are financially viable. These transplants are preferred by patients as well as physicians and, thus, have a significant market share in the global stem cell therapy market. Allogeneic transplantation is immunosuppressive and has the ability to repair tissues, in particular mesenchymal stem cells. Hence this transplantation elicits only a lower or weakened immune response upon implantation. Hence, they pose as a promising cell-based therapy. These factors will drive the growth of the global stem cell therapy market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America occupies the largest share of the market. The US and Canada are the leading revenue contributors due to advanced facilities for stem cell isolation and storage. Also, efforts by the US federal authorities to regulate the US stem cell market have also increased the market growth of approved brands. Further, the increasing funds from government and private organizations will foster the development of stem cell therapies. The funding will contribute to the growth of the stem cell therapy market in the region during the forecast period.
The outbreak of COVID-19 in 2020 in the region accelerated R and D activities, especially in the US. The introduction of new products in the market and favorable investment policies are estimated to fuel regional market growth during the forecast period. Canada is another significant contributor to the cell isolation market in North America. Funding will enable US to build new pipelines of drugs, enabling partnerships and investment in further clinical development and testing. Thus, with an increase in such projects, the demand for cell therapy will increase in the region, which, in turn, will drive the growth of the regional market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Athersys Inc. - The company offers stem cell therapies such as MultiStem products.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing prevalence of chronic diseases is driving growth of the market. There is a rising global prevalence of various chronic diseases, such as heart disease, diabetes, stroke, cancer, obesity, and arthritis. Chronic diseases present a significant burden on patients and healthcare systems. Around the world, a substantial number of people have one or more chronic health conditions. Additionally, one in four adults suffers from two or more chronic diseases.
Moreover, most chronic diseases may result in tissue or organ damage. Most therapies for chronic illnesses are aimed at providing relief rather than a cure. The increased adoption of cell therapies for the treatment of chronic diseases, which, in turn, will drive the growth of the global stem cell therapy market during the forecast period.
The rise in costs of stem cell transplantation is a key trend in stem cell therapy market growth. Transplanting of stem cells is expensive as it requires high levels of specialized equipment and resources. The difference in the conditioning regimen and the type of transplant decide the cost of the transplantation. The median healthcare cost for allogeneic hematopoietic stem cell transplants was generally higher than for autologous ones.
However, the main cost factor in the case of autologous therapy arises from the fact that each individual has to undergo screening and testing, and stem cells have to be isolated and harvested in individual batches. In allogeneic transplantation, screening is done once to find suitable donors, and then a cell bank system can be created. These factors will positively impact the growth of the global stem cell therapy market during the forecast period.
The safety concerns from stem cell therapy are a major challenge in stem cell therapy market growth. There are various factors that contribute to the varying degrees of side effects experienced with stem cell therapy. In some patients, the side effects may be acute, developing immediately after transplantation. In others, they may be chronic, developing after a month or 100 days.
However, transplanted tissue may be rejected by the host immune system, posing safety concerns. Aggressive induction therapy is the current methodology used to prevent acute rejection. However, it does not guarantee long-term graft survival and may also result in an increased risk of infections. These factors will hinder the growth of the global stem cell therapy market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Stem Cell Therapy Market Customer Landscape
The stem cell therapy market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Stem Cell Therapy Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.93% |
Market growth 2023-2027 |
USD 11,659.09 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.45 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Athersys Inc., Becton Dickinson and Co., Brainstorm Cell Therapeutics Inc., Bristol Myers Squibb Co., CRISPR Therapeutics AG, Cynata Therapeutics Ltd., Cytori Therapeutics Inc., FUJIFILM Corp., Gamida Cell Ltd., Johnson and Johnson, Lonza Group Ltd., Mesoblast Ltd., Novartis AG, Pfizer Inc., Pluristem Therapeutics Inc., ReNeuron Group plc, STEMCELL Technologies Inc., Takeda Pharmaceutical Co. Ltd., Thermo Fisher Scientific Inc., and Vericel Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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