Status : Published Published On : Jul, 2019 Report Code : VRHC1024 Industry : Healthcare Available Format : Page : 98

Global Stem Cell Therapy Market – Analysis and Forecast (2019-2024)

Industry Insights by Type (Allogeneic and Autologous), by Therapeutic Application (Gastrointestinal Diseases, Musculoskeletal Disorders, Surgeries, Cardiovascular Diseases, and Wound & Injuries), by Cell Source (Adipose Tissue-Derived Mesenchymal Stem Cell, Cord Blood Cells and Bone Marrow-Derived Mesenchymal Stem Cells), by Geography (U.S., Canada, Germany, France, U.K., Japan, China, India, Brazil)

Industry Overview

The global stem cell therapy market is expected to grow at a CAGR of 10.6% during the forecast period with its market size predicted to reach USD 214.5 million by 2024. The global stem cell therapy market is primarily driven by due to growing awareness regarding therapeutic potency of stem cells and the development of infrastructure related to stem cell banking and processing. The market has witnessed a high demand for allogenic therapies over the last few years, due to easy production scale-up process, and increasing commercialization of allogeneic therapy products.

Stem Cell Therapy Market Highlights

Market Segmentation

Insight by Type

There are two types of stem cell therapy, allogeneic and autologous. Of both, the allogenic segment accounts for the larger share and is also predicted to grow at the faster rate in the coming years in the market due to its extensive therapeutic applications, increasing commercialization of allogeneic products, easy production scale-up process, and the growing number of clinical trials related to allogeneic therapies.

Insight by Therapeutic Application

The stem cell therapy market has been segmented by therapeutic application into gastrointestinal diseases, musculoskeletal disorders, surgeries, cardiovascular diseases, and wound and injuries. Musculoskeletal disorders category contributed the largest revenue in the market due to the increasing prevalence of musculoskeletal disorders and bone & joint diseases, increasing the availability of stem cell-based products for the treatment of musculoskeletal disorders, and growing patient preference for effective & early treatment strategies.

Insight by Cell Source

The global stem cell therapy market has also been segmented by cell source into an adipose tissue-derived mesenchymal stem cell, cord blood cells, and bone marrow-derived mesenchymal stem cells. Of all the categories, the bone marrow-derived mesenchymal stem cells are increasingly being used for therapeutic applications.

Industry Dynamics

Growth Drivers

The growing awareness related to the therapeutic potency of stem cells, development of infrastructure related to stem cell banking and processing, development of advanced genome-based cell analysis techniques, and increasing private-public investment for the development of stem cell therapies are the primary growth drivers for stem cell therapy market. According to the World Health Organization (WHO) globally, more than 50,000 transplants are carried out annually and it is increasing each year.

Increasing prevalence of chronic diseases, supporting regulations across developing countries, technological advancement in healthcare, cellular therapies are the major advancements in transforming healthcare and identification of new stem cell lines are also fueling the growth of the stem cell therapy market. Diseases such as osteoarthritis, multiple sclerosis, heart failure, hearing loss, and cerebral palsy are some of the diseases that could be treated using stem cell therapies. For instance, according to the WHO by 2050, it is estimated 900 million people will have disabling hearing loss. Moreover, 60 percent of childhood hearing loss is due to preventable causes.

Moreover, restrictions of traditional organ transplantation such as dependence on organ donor, the threat of infection, rejection, and immunosuppression threat and increasing pipeline and development of drugs for emerging applications are also boosting the growth of the stem cell therapy market.

Challenges

The technical limitations related to production scale-up, socio-ethical issues related to the use of stem cell in disease treatment and research and unclear regulatory guidelines for product development & commercialization are the major challenges for the growth of stem cell therapy market. The socio-ethical issues involved in stem cell research such as religious briefs and destruction of the human embryo are considered as the hindering factor for the adaptation of stem cell therapy by the patient.

Moreover, high cost of research, less developed research infrastructure for stem cell therapies and storage of stem cell, difficulty related with the preservation of stem cell, and strict regulations to conduct trials on human are also hindering the growth of the stem cell therapy market.

Geographic Overview

Geographically, North America is the largest stem cell therapy market and is observed to witness the fastest growth in the market. Some of the factors leading to the growth of the North American stem cell therapy market are increasing number of clinical trials to evaluate therapeutic potential of products, increasing prevalence of chronic diseases, the growing patient base for target diseases, growing public awareness related to the therapeutic potency of therapy, and increasing public-private funding & research grants for developing safe and effective stem cell therapy products. Europe is also anticipated to witness considerable growth in the coming years for stem cell therapy.

Competitive Insight

Major players in the industry are capitalizing on the development of technologically inventive and advance products, which is strengthening their position in the stem cell therapy market. In March 2017, Osiris Therapeutics launched Prestige Lyotechnology, a method for storage of living cells and tissues. In addition, in February 2018, MEDIPOST announced that the FDA has approved its stem cell-based Alzheimer’s disease drug, NEUROSTEM for clinical trials. Osiris Therapeutics, Inc., RTI Surgical, Inc., MEDIPOST Co., Ltd., Nuvasive, Inc., Pharmicell Co., Ltd., Holostem Terapie Avanzate Srl, JCR Pharmaceuticals Co., Ltd., Anterogen Co., Ltd., and Allosource are some of the key players offering stem cell therapy products.

Forecast Parameters

- Identifying variables and establishing market impact.

- Establishing market trends regionally.

- Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.

- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.

- Analyzing sustainability strategies adhered by market participants in an attempt to determine the future course of the market.

- Analyzing historical market trends and super-imposing them on the current and future variables to determine the year-on-year trend.

- Understanding adoption, production, export, import, and regulatory framework.

Data Validation

- Estimated and forecasted data was validated through industry experts.

- Apart from industry experts, data triangulation methods were used for validation.

- Bottom-up and top-down approach has been used for estimation and forecast of market data, whereas top-down approach was used for validation.

- Demands, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behavior.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

Stem Cell Therapy Market Size

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Stem Cell Therapy Market