Stem Cell Therapy Market size was valued at USD 16.5 billion in 2021 and is expected to reach USD 32.2 billion by 2028, at a CAGR of 10% during the forecast period 2022 to 2028. Stem cell therapy involves use of stem cells to treat various diseases or disorders. Stem cells are fundamental for every tissue and organ in the body.Â Stem cells are indistinguishable biological cells that are able to differentiate into specialised cells (liver cells, cardiac cells etc.) and can renew itself (through mitosis) to produce more stem cells. Stem cells have the ability to replicate, repair, and replace other damaged tissues in the human body. In addition, stem cell based therapies are also used to treat several chronic diseases such as blood disorders, cancer and others. Stakeholders in stem cell therapy such as academic institutions and research firms are collaborating in development of stem cell therapy and industry collaborations also projecting enormous growth of stem cell therapy market. For instance, in November 2015, Cellular Dynamics International, Inc. (FUJIFILM) collaborated with Roche to supply iCell (CDI's induced pluripotent stem cell derived) products that enables in identification of novel drug candidates at the early stages of drug discovery. Similarly, in May 2017, Magenta Therapeutics, entered into strategic partnership with Be The Match BioTherapies, to improve and expand the use of curative stem cell transplantation.
Fastest Growing Market
Growing awareness about the potency of stem cells in disease management, development of advanced gene based analysis techniques and increase in public, private investments in stem cell research are acting as growth drivers for stem cell therapy market. In addition, identification of new stem cell lines and development of infrastructure for stem cell banking & processing are propelling the growth of the global stem cell therapy market. However, ethical issues involved in stem cells research such as destruction of human embryos, religious beliefs are considered as road blocks for adaptation of stem cell therapy by patients. However, stringent regulations to conduct trials on humans, high-cost of research and storage of stem cells are some restraining factors for stem cell therapy market.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.