SAN FRANCISCO, Oct. 27, 2022 /PRNewswire/ — The global stem cells market size is expected to reach USD 31.6 billion by 2030, registering a CAGR of 11.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. Stem cells are cells that can differentiate into a variety of other cells, eventually forming organs or tissues. Many studies have been conducted over the years to assess the true potential of stem cells, leading to a variety of applications in the fields of genetic disease treatment , neurological disorders, oncology, and organ regeneration. The market is driven by the rising number of banks, growing focus on increasing therapeutic potential of these products, and extensive research for the development of regenerative medicines, among other factors.
Key Industry Insights & Findings from the report:
- ASCs segment accounted for the largest share in 2021 as it is considered as a gold standard in stem cell-based therapies. They are widely accepted owing to their consistent clinical success especially in hematopoietic transplants and there is a relatively less controversial view regarding their origin.
- The iPSC segment is expected to witness a lucrative CAGR through 2022-2030 owing to the increasing focus of companies in using iPS for cell therapies. For instance, in July 2020Cynata Therapeutics Limited announced positive results for the phase 1 clinical trial of CYP-001the company’s lead iPSC derived Cymerus.
- Regenerative medicine dominated the market in 2021 owing to increasing funding by the government for the development of regenerative medicines. For instance, in October 2020the AusBiotech-led consortium received funding of USD 300,000 from MTPConnect’s Industry Growth Centre Project Fund for the development of regenerative medicines in Australia.
- Cell acquisition technology held the largest market share in 2021 and is expected to expand at the fastest CAGR through 2022-2030 owing to increasing research studies involving cell harvesting.
- Allogenic therapy dominated the market in 2021 owing to the increasing application of allogeneic stem cell transplants for cancer treatment.
- Pharmaceutical and biotechnology companies held the largest market share in 2021, and is anticipated to exhibit at fastest CAGR owing to upsurge in R&D, increasing clinical trials coupled with strategic activities by major market players.
- North America market encompasses US and Canada. The factors contributing to the market growth in the region include robust government funding, increasing research, and the presence of prominent players in this region.
- Asia Pacific is expected to grow with the fastest CAGR of through 2022 to 2030 owing to increasing expansion by key companies in this region. For instance, in April 2020Seneca Biopharma completed its new stem cell manufacturing facility in Suzhou, China.
Read 150-page full market research report, “Stem Cells Market Size, Share & Trends Analysis Report By Product (Adult Stem Cells, Human Embryonic Stem Cells), By Application, By Technology, By Therapy, By End Use, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Stem Cells Market Growth & Trends
The growing focus on regenerative therapies is fueling market expansion. iPSCs are becoming increasingly popular for the creation of customized cellular therapies, and opening up new possibilities in regenerative medicine. For …
