Stem Cells Market Outlook 2028
The global stem cells market was valued over US$ 11.73 Bn in 2020
It is estimated to expand at a CAGR of 10.4% from 2021 to 2030
The global stem cells market is expected to reach the value of US$ 25.68 Bn by the end of 2030
Analysts’ Viewpoint on Stem Cells Market Scenario
Stem cells are used in treating various illnesses in the body. Technological advancements in healthcare and pharmaceutical industries are creating potential revenue opportunities for market players operating in the stem cells market. Increasing investments in R&D activities to explore innovative ways to use stem cells for different healthcare applications are driving the global stem cells market. The growing incidences of diseases such as cancer, diabetes, and heart diseases boost the demand for stem cells. Market players are exploring new approaches to culturing or utilizing stem cells in various applications. Rapid expansion of pharmaceutical companies and clinical research institutes in developed regions is fueling the growth of the market. High cost is a major factor affecting the growth of the global stem cells market. Companies in the stem cells market should experiment with new techniques to improvise the testing processes.
Increasing Demand for Stem Cells in Regenerative Medicines Accelerates Market Growth
The global stem cells market is majorly driven by rising applications of stem cells in regenerative medicines. Increase in the number of chronic diseases such as cardiac diseases, diabetes, cancer, etc. across the globe is responsible for market growth. Regenerative medicines are used in the treatment of various diseases, and are made using stem cells in order to repair an injured tissue. The rising clinical trials for regenerative medicines, along with increasing development in stem cell-based therapies is the factor creating value-grab opportunities for the market players. Companies operating in the global stem cells market are conducting basic research and preclinical trials for testing the regenerative capacity of stem cells in the treatment of various neurological conditions. With consistent efforts of scientists and R&D activities in stem cell biologics, market players are gaining lucrative growth opportunities in the global market.
Rising Healthcare Expenditure and Increasing Investment in R&D Activities
There has been a lot of research & development activities in the field of stem cells biologics. The high demand for stem cells in therapeutic treatments for neurological disorders, cancer, heart diseases, diabetes, etc. is driving the global market, creating lucrative revenue opportunities for manufacturers in the stem cells market. Governments are taking steps to support pharmaceutical companies, and investing in research and development activities. Manufacturers are bolstering their R&D capabilities to experiment with new technologies and applications. Manufacturers operating in the global stem cells market are using technological innovations to stay ahead of the competition and generate more revenue opportunities. Increasing healthcare expenditure, research & development activities, and trending advances in biologics strengthen the scope and expansion of the stem cells market.
Increase in Funding for Stem Cell Research Generates Potential Opportunities
Increasing applications of stem cells for many health conditions and chronic diseases that affect millions of people globally. Consistent research in the field of stem cells is one of the key factors driving the growth of the market. Funding provided by governments and other private organizations to carry out extensive research on stem cells are encouraging market stakeholders to pave their ways in the global market by providing treatment for various chronic illnesses. The stem cells market is expected to witness abundance of growth opportunities in the upcoming years. The increasing number of chronic illnesses is anticipated to revive the growth of the stem cells market.
North America Market Players Offering Profitable Revenue Opportunities
North America is expected to account for a major share of the global stem cells market during the forecast period. The North America stem cells market is majorly driven by increasing prevalence of lifestyle diseases such as diabetes, cancer, heart diseases, etc. in the region. In addition, technological advancements in healthcare, increasing investment on research & development activities, and growing number of diagnostic facilities are some of the key factors fueling market growth in North America. Manufacturers operating in the stem cells market are shifting toward electronics medical devices to increase the performance of services. Countries in Asia Pacific such as China and India are responsible for the fastest growth of the stem cells market in the region. Moreover, rapid urbanization and increasing spending on healthcare are factors contributing to the market growth in Asia Pacific.
Stem Cells Market: Overview
The global stem cells market for the historical period 2017–2019 and forecast period 2021–2028, Increasing health care expenditure in developing countries is projected to drive the global stem cells market during the forecast period
Increase in Funding for Stem Cell Research: Key Driver
Stem cells hold the promise for treatments and cures of more than 70 major diseases and conditions that affect millions of people globally. Several private and government sectors support funding for stem cell research.
According to Change.org, Inc., in the U.S., 64% of the people support federal funding of research on chronic diseases using stem cells taken from human embryos
Internationally, stem cell research is supported by significant government investments, with Asia being one of the most favorable regions. Stem cell research funding by the National Institutes of Health (NIH) has been increasing in the past few years.
Rise in Stem Cell Banking Services to Boost Market Growth
Umbilical cord blood provides a pool of hematopoietic and mesenchymal stem cells, which can be stored after childbirth for later use. The stored blood finds applications in treatment of hematological disorders such as leukemia, lymphoma, and sickle cell anemia.
The cost of storage is high, and according to the American Academy of Pediatrics, the odds that a person will require cord blood stem cells are 1:1,000
Nevertheless, parents opt for the storage and over 20,000 people in the U.S. have undergone surgeries, which have utilized stored umbilical cord blood
High Treatment Cost to Hamper Market
Stem cell treatment is expensive; major proportion of the global population cannot afford it
For instance, a full treatment with Prochymal, a stem cell-based drug approved in Canada to alleviate pediatric rejection of bone marrow transplants, is estimated to cost around US$ 200,000
This substantiates the fact that only a small proportion of population of the world is capable of spending on stem cell therapies
Stem Cells Market: Competition Landscape
This report profiles major players in the global stem cells market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global stem cells market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global stem cells market are
Key Questions Answered in Stem Cells Market Report
Stem Cells Market – Segmentation