Global Stem Cell Market was worth $15.82 billion in 2016 and estimated to reach $30.19 billion by the end of 2021 with a CAGR of 13.8%. The allogeneic stem cell therapy is expected to command the largest share of the market in 2016.
The market is expected to grow rapidly because of the extensive research and development which is being done. In the field of life sciences, one of the most promising markets at the moment is the Global Stem Cell Market and is expected to grow exponentially in the coming years as stem cells allow cost-effective treatment of many illnesses that currently have no or ineffective treatment.
Regenerative medicine is perhaps the most important use of stem cells, and other important areas include oncology, haematology, orthopaedics, cardiology and neurology. Another widely found application is drug discovery and development.
Stem cells are kind of a research tool, as their in vitro study would allow scientists to understand in depth about the role of various organs and the development of particular illnesses; stem cells may also possibly allow drug developers to test emerging therapies on diseased cells. Stem cells therapy has shown substantial potential to treat cancer successfully.
Cancer stem cells which have been tested on animals have shown satisfactory results.
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Some of the key drivers of stem cell market are improved funding from various government and private organizations for research and development for unmet medical needs, growing industry attention on stem cell research, and increasing global awareness about stem cell therapies. Development of cutting-edge genomic techniques for stem cell analysis, and increasing approvals for clinical trials of stem cell therapy are other factors that are propelling the growth of the market.
While on the other hand, ethical issues are involved in the stem cells research and strict regulations to conduct trials on humans are some of the restraining factors. Also factors such as lack of required infrastructure and complications associated with the preservation of stem cell are limiting the growth of the stem cells market.
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The stem cell market is segmented based on the treatment mode, cell types, applications, and technology. Treatment mode is segmented into allogeneic and autologous stem cell therapy.
The cells type segment contains adult stem cells, induced pluripotent stem cells, human embryonic stem cells, and others. In the global stem cells market, the adult stem cells hold the highest share, while the market share of induced pluripotent stem cells is likely to grow in the next few years.
The technology segment is divided into cell acquisition, cell production, cryopreservation and other sub-segments. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
As of now, North America region dominates the global stem cells market. Europe comes next. However, the Asia-Pacific stem cell therapy market is expected to grow the fastest in this forecast period, mainly because of better regulatory support through encouraging government policies and increasing awareness among the public.
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Some of the major players in this market are Athersys, StemCells Inc., Cryo Cell International, Geron Corporation, Mesoblast Ltd., Aastrom Biosciences Inc., Celgene Corporation, Invitrogen and Cytori Therapeutics Inc.
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