Stem Cells Market: Introduction
According to the report, the global stem cells market was valued at US$ 11.73 Bn
in 2020 and is projected to expand at a CAGR of 10.4% from
2021 to 2028. Stem cells are defined as specialized cells of the human body
that can develop into various different kinds of cells. Stem cells can form
muscle cells, brain cells and all other cells in the body. Stem cells are used
to treat various illnesses in the body.
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North America was the largest market for stem cells
in 2020. The region dominated the global market due to substantial investments
in the field, impressive economic growth, increase in incidence of target
chronic diseases, and technological progress. Moreover, technological
advancements, increase in access to healthcare services, and entry of new
manufacturers are the other factors likely to fuel the growth of the market in
North America during the forecast period.
Asia Pacific is projected to be a highly lucrative
market for stem cells during the forecast period. The market in the region is
anticipated to expand at a high CAGR during the forecast period. High per
capita income has increased the consumption of diagnostic and therapy products
in the region. Rapid expansion of the market in the region can be attributed to
numerous government initiatives undertaken to improve the health care
infrastructure. The market in Asia Pacific is estimated to expand rapidly
compared to other regions due to shift in base of pharmaceutical companies and
clinical research industries from developed to developing regions such as China
and India. Moreover, changing lifestyles and increase in urbanization in these
countries have led to a gradual escalation in the incidence of
lifestyle-related diseases such as cancer, diabetes, and heart diseases.
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Technological Advancements to Drive Market
Several companies are developing new approaches to
culturing or utilizing stem cells for various applications. Stem cell
technology is a rapidly developing field that combines the efforts of cell
biologists, geneticists, and clinicians, and offers hope of effective treatment
for various malignant and non-malignant diseases. The stem cell technology is
progressing as a result of multidisciplinary effort, and advances in this
technology have stimulated a rapid growth in the understanding of embryonic and
postnatal neural development.
Adult Stem Cells Segment to Dominate Global Market
In terms of product type, the global stem cells
market has been classified into adult stem cells, human embryonic stem cells,
and induced pluripotent stem cells. The adult stem cells segment accounted for
leading share of the global market in 2020. The capability of adult stem cells
to generate a large number of specialized cells lowers the risk of rejection
and enables repair of damaged tissues.
Autologous Segment to Lead Market
Based on source, the global stem cells market has
been bifurcated into autologous and allogenic. The autologous segment accounted
for leading share of the global market in 2020. Autologous stem cells are used
from one’s own body to replace damaged bone marrow and hence it is safer and is
commonly being practiced.
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Regenerative Medicines to be Highly Lucrative
In terms of application, the global stem cells
market has been categorized into regenerative medicines (neurology, oncology,
cardiology, and others) and drug discovery & development. The regenerative
medicines segment accounted for major share of the global market in 2020, as
regenerative medicine is a stem cell therapy and the medicines are made using
stem cells in order to repair an injured tissue. Increase in the number of
cardiac diseases and other health conditions drive the segment.
Therapeutics Companies Emerge as Major End-users
Based on end-user, the global stem cells market has
been divided into therapeutics companies, cell & tissue banks, tools &
reagents companies, and service companies. The therapeutics companies segment
dominated the global stem cells market in 2020. The segment is driven by
increase in usage of stem cells to treat various illnesses in the body.
Therapeutic companies are increasing the utilization of stem cells for
providing various therapies. However, the cell & tissue banks segment is
projected to expand at a high CAGR during the forecast period. Increase in
number of banks that carry out research on stem cells required for tissue &
cell growth and elaborative use of stem cells to grow various cells &
tissues can be attributed to the growth of the segment.
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Regional Analysis
In terms of region, the global stem cells market
has been segmented into North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa. North America dominated the global stem cells market
in 2020, followed by Europe. Emerging markets in Asia Pacific hold immense
growth potential due to increase in income levels in emerging markets such as
India and China leading to a rise in healthcare spending.
Competition Landscape
The global stem cells market is fragmented in terms
of number of players. Key players in the global market include STEMCELL
Technologies, Inc., Astellas Pharma, Inc., Cellular Engineering Technologies,
Inc., BioTime, Inc., Takara Bio, Inc., U.S. Stem Cell, Inc., BrainStorm Cell
Therapeutics, Inc., Cytori Therapeutics, Inc., Osiris Therapeutics, Inc., and
Caladrius Biosciences, Inc.
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Global Stem Cells Market: Segmentation
Stem Cells Market, by Product
- Adult Stem Cell
- Human Embryonic Stem Cell
- Induced Pluripotent Stem Cell
- Others
Stem Cells Market, by Source
- Autologous
- Allogenic
Stem Cells Market, by Application
- Regenerative Medicines
- Neurology
- Oncology
- Cardiology
- Others
- Drug Discovery & Development
Stem Cells Market, by End-user
- Therapeutics Companies
- Cell & Tissue Banks
- Tools & Reagents Companies
- Service Companies
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