Number of pages: 120 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
According to the deep-dive market assessment study by Growth Plus Reports, the global stem cells market was valued at US$ 13.18 billion in 2022 and is expected to register a revenue CAGR of 9.85% to reach US$ 30.69 billion by 2031.
Stem Cells Market Fundamentals
Stem cells are a unique type of cell found in the human body that can develop into different cell types and perform various functions. They are characterized by their self-renewal capacity, meaning they can divide and generate more stem cells, and their potential to differentiate into specialized cell types, including those found in different tissues and organs. There are several types of stem cells, including embryonic stem cells, adult or somatic stem cells, and induced pluripotent stem cells (iPSCs). Embryonic stem cells are derived from embryos and can differentiate into any cell type in the body. Adult or somatic stem cells are found in specific tissues and play a role in tissue maintenance and repair. iPSCs are generated by reprogramming adult cells to exhibit characteristics like embryonic stem cells.
Stem cells have a wide range of potential medical applications. They can be used in tissue engineering to create new tissues and organs for transplantation. Stem cell-based therapies are being explored to treat various conditions, including cardiovascular diseases, neurological disorders, autoimmune disorders, and orthopedic injuries. Stem cells are also used in drug discovery and development processes to study disease mechanisms, test drug efficacy, and identify potential therapeutic targets.
Stem Cells Market Dynamics
The increasing incidence of chronic diseases, such as cardiovascular disorders, neurodegenerative diseases, diabetes, and cancer, has created a significant demand for innovative treatment options. Stem cell therapies hold the potential to provide regenerative and reparative solutions for these conditions, driving the growth of the global stem cells market growth. For instance, according to the WHO’s factsheet of September 2022, 41 million individuals are killed due to chronic diseases each year. Continuous advancements in stem cell research, including improved isolation techniques, expansion methods, and differentiation protocols, have expanded the capabilities of stem cells in various applications. Technological advancements, such as induced pluripotent stem cells (iPSCs), gene editing tools like CRISPR-Cas9, and tissue engineering techniques, have opened new avenues for therapeutic development, boosting the global stem cell market.
Governments, private organizations, and venture capitalists are investing heavily in regenerative medicine and stem cell research. Funding support enables research institutions and companies to conduct extensive studies, clinical trials, and product development. The investment influx drives the market by facilitating research breakthroughs and the commercialization of stem cell-based therapies. Collaboration between academia, industry, and healthcare institutions is crucial in advancing stem cell research and development. Collaborations help pool expertise, resources, and infrastructure, leading to accelerated progress in stem cell therapies. Partnerships between research organizations, biotech companies, and healthcare providers fuel innovation, investment, and global stem cells market growth.
However, stem cell therapies can be expensive due to the complex procedures, specialized infrastructure, and research-intensive nature of their development. High treatment costs can limit patient access, particularly in healthcare systems with limited reimbursement coverage. Reimbursement challenges, such as the need for established reimbursement mechanisms and insufficient evidence on cost-effectiveness, can also hinder the adoption and utilization of stem cell therapies. Additionally, scientific & technical challenges and high treatment costs are some of the restraints impeding the overall market growth.
Stem Cells Market Ecosystem
The global stem cell market is analyzed from four perspectives: cell source, type, end user, and region.
Stem Cells Market by Cell Source
Based on the cell source, the global stem cells market is segmented into human embryonic stem cells, adult stem cells, induced pluripotent stem cells, and others.
The adult stem cells segment dominated the market with a principal revenue share of 81% in 2022, due to minimal possibilities of rejection of these cells by the body and high success rate. Adult stem cells, also known as somatic stem cells or tissue-specific stem cells, are found in various tissues and organs of the human body. Unlike embryonic stem cells derived from embryos, adult stem cells are present in mature tissues throughout a person's life and play a crucial role in tissue maintenance, repair, and regeneration. Adult stem cells can be obtained from several sources within the human body, including bone marrow, adipose tissue (fat), peripheral blood, dental pulp, umbilical cord blood, and various other tissues. Each source offers unique advantages and characteristics regarding the abundance of stem cells, ease of extraction, and differentiation potential. Adult stem cells actively participate in tissue repair and regeneration processes. When a tissue or organ is damaged, adult stem cells can proliferate and differentiate into the specific cell types needed for tissue repair. This regenerative capacity of adult stem cells has applications in various medical fields, including orthopedics, cardiology, neurology, and dermatology. These aspects contribute to the growth of the adult stem cells segment.
Stem Cells Market by Application
Based on the application, the global stem cells market is segmented into allogeneic and autologous stem cells.
The autologous stem cell therapy segment accounted for a significant share of the market in 2022, attributed to advantages such as reduced possibilities of infection from an unknown donor and lower chances of rejection by the body. Autologous stem cell therapy involves collecting stem cells from an individual, processing and manipulating them in the laboratory, and then re-implanting them back into the same person. This approach offers several advantages, including reduced risk of immune rejection and ethical concerns associated with the use of donor cells. Autologous stem cells can be obtained from various sources within the patient's body, such as bone marrow, adipose tissue (fat), peripheral blood, dental pulp, and other tissues. The collection process typically involves minimally invasive procedures, such as bone marrow aspiration or liposuction, to harvest the stem cells. Once collected, the autologous stem cells undergo processing and manipulation in the laboratory. This may involve isolation, purification, and concentration of the stem cells to obtain enough cells for therapeutic purposes. The stem cells may sometimes be subjected to specific culture conditions or genetic modifications to enhance their therapeutic potential. These factors contribute to the growth of the autologous stem cell therapy segment.
Stem Cells Market by Application
Based on the application, the global stem cells market is segmented into regenerative medicine and drug discovery & development.
The regenerative medicine segment is a key player in the stem cells market with the largest revenue share of about 85% in 2022, attributed to the rise in the number of research activities in the field of regenerative medicine using stem cells and an increase in the prevalence of cancer. For instance, according to the WHO’s factsheet of February 2022, in 2020, cancer accounted for nearly 10 million deaths. Regenerative medicine focuses on harnessing the body's natural healing capabilities and using stem cells, biomaterials, and other advanced therapies to repair, replace, or regenerate damaged or diseased tissues and organs. This field aims to restore functionality and improve patient outcomes by promoting the body's own regenerative processes. These overall factors contribute to the growth of the regenerative medicine segment.
Stem Cells Market by Region
Geographically, the global stem cells market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global stem cells market with the largest revenue share in 2022, attributed to a rise in public-private funding for R&D activities of regenerative medicines, an increase in the prevalence of chronic infectious diseases, and prominent players in the region. Moreover, the increase in the usage of stem cells in several ongoing studies in oncology, musculoskeletal disorders, and CNS disorders is expected to fuel the market revenue growth during the forecast period.
Stem Cells Market Competitive Landscape
The prominent players operating in the global stem cells market are:
Stem Cells Market Strategic Developments
Stem cells are a unique type of cell found in the human body that can develop into different cell types and perform various functions.
The global stem cells market was valued at US$ 13.18 billion in 2022.
The estimated market size of the global stem cells market in 2031 is US$ 30.69 billion.
The revenue CAGR of the stem cells market during the forecast period will be 9.85% from 2023 to 2031.
Some key companies operating in the global stem cells market are GSK Plc, Baxter, AlloSource, Astellas Pharma Inc., Pluristem Therapeutics Inc., and Regen BioPharma, Inc.
*Insights on financial performance are subject to the availability of information in the public domain