Number of pages: 120 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global stem cells market was pegged at US$ 10.57 billion in 2020 and is expected to witness a CAGR of 7.9% from 2021 to 2031
Stem cells are cells that have the unique ability to develop into different cell types called daughter cells. These new cells can range from muscle cells to brain cells. They help in replacing the damaged cells in the body. There are different types of stem cells including embryonic stem cells, adult stem cells, induced pluripotent stem cells, and perinatal stem cells. Different types of cells have different origins. Embryonic stem cells are derived from embryos that are three to five days old, adult stem cells are derived from adult tissues such as bone marrow. Perinatal stem cells are derived from the amniotic fluid as well as umbilical cord blood. As stem cells have the potential to repair damaged tissue, scientists are conducting several studies on stem cells to cure various diseases or disorders.
Growing public-private funding for stem cell research and the rising awareness related to therapeutic applications of stem cells are some of the factors propelling the growth of the stem cell market. Moreover, factors such as the increasing prevalence of chronic diseases such as cancer, the rising number of R&D activities related to stem cells, and the increasing demand for regenerative medicine are anticipated to propel the stem cell market growth during the projected period. However, ethical concerns and the possible risk of oncogene expression during the reprogramming of the cells are some of the factors likely to hinder the market growth to a certain extent.
The global stem cell market has been analyzed from four perspectives: Cell Source, Type, Application, and Region.
Stem Cells Market by Cell Source
Based on cell source, the stem cells market has been segmented into human embryonic stem cells, adult stem cells, induced pluripotent stem cells, and other types of stem cells. Adult stem cells are the most commonly used cell type and held the largest share of the stem cell market in 2020. Major factors attributing to the growth of this segment include low chances of rejection by the body and a high success rate. Moreover, as adult stem cells can be transformed into pluripotent stem cells, they have advantages over the embryonic cells without actually affecting the embryo. Such factors are positively driving the use of these types of cells.
Stem Cells Market by Type
Based on type, the stem cells market has been segmented into allogeneic stem cell therapy and autologous stem cell therapy. Autologous stem cell therapy is anticipated to be the fastest-growing segment during the forecast period. Advantages such as reduced chances of infection from an unknown donor and lower chances of rejection by the body are driving the segmental growth.
Stem Cells Market by Application
Based on application, the stem cells market has been segmented into regenerative medicine and drug discovery & development. Regenerative medicine segment held the largest share of the stem cell market in 2020. Factors attributing to the growth of this segment include the rising number of research activities in the field of regenerative medicine using stem cells and the increasing prevalence of cancer. Moreover, growing awareness related to regenerative medicine for the replacement of damaged tissues is also driving their use.
Stem Cells Market by Region
Regionally, the global stem cells market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest share of the global stem cells market in 2020. Major factors attributing to the growth of the stem cells market in this region include the rising public-private funding for R&D activities of regenerative medicine, increasing prevalence of chronic infectious diseases, and the presence of prominent players. Moreover, several ongoing studies using stem cells in the field of oncology, musculoskeletal disorders, and CNS disorders are further anticipated to fuel the market growth during the forecast period.
Some of the prominent players operating in the global stem cells market includes :-