The Market growth is driven mainly by factors such as increasing investment in stem cell research and the rising number of GMP-certified stem cell manufacturing plants. However, factors such as ethical concerns and the high cost of stem cell research and manufacturing process likely to hinder the growth of this market.
The global stem cell therapy market is projected to reach USD 401 million by 2026 from USD 187 million in 2021, at a CAGR of 16.5% during the forecast period.
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Based on the cell source from which stem cells are obtained, the global market is segmented into four sources. These include adipose tissue-derived MSCs (mesenchymal stem cells), bone marrow-derived MSCs, placenta/umbilical cord-derived MSCs, and other cell sources (which includes human corneal epithelium stem cells, peripheral arterial-derived stem cells, and induced pluripotent stem cell lines). In 2020, adipose tissue-derived MSCs accounted for the markets largest share due to their increasing utilization in treating inflammatory diseases and wounds & injuries. There are several associated advantages, such as ease of harvesting stem cells by minimally invasive methods, simplicity of the isolation procedure, and better quality & proliferation capacity of adipose tissue-derived stem cells.
Based on therapeutic application, the global market is segmented into musculoskeletal disorders, wounds & injuries, cardiovascular diseases, surgeries, inflammatory & autoimmune diseases, neurological disorders, and other therapeutic applications (which include ocular diseases, fat loss, and peripheral arterial diseases). In 2020, the musculoskeletal disorders segment accounted for the largest share of the therapeutic application segment. The large market share of this segment is attributed to the increasing prevalence of musculoskeletal disorders such as osteoarthritis, bone repair, and regeneration
The Asia Pacific region is estimated to grow at the highest CAGR in the market during the forecast period. Some of the major factors fueling the growth of the APAC market include regulatory approvals and guidelines for product approvals and the presence of major stem cell players in countries such as South Korea, Japan, India, and Australia.
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Top Key Players:
Key players in the Stem Cell Therapy Market include Smith & Nephew (UK), MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), PHARMICELL Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd. (Japan), and NuVasive, Inc. (US).