PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464683
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464683
Neural Stem Cells Market size was valued at USD 6,756 Million in 2023, expanding at a CAGR of 12.5% from 2024 to 2032.
Neural stem cells are undifferentiated cells found in the central nervous system. These cells can produce new cells that can mature into neurons and glial cells. Ongoing research on neural stem cells aims to explore their potential in regenerative medicine and neuroscience, with a focus on understanding their characteristics, controlling their functions, and creating reliable treatments for neurological conditions.
Neural Stem Cells Market- Market Dynamics
Increasing awareness about neurological disease is expected to propel market demand
The recognition and diagnosis of neurological diseases have improved as awareness about these conditions increases. This has led to early diagnosis, which often results in a proactive approach to treatment. Regenerative therapies involving NSCs are now being considered as part of the treatment options. According to a recent United Nations report, approximately one in six people, totaling up to 1 billion individuals, suffer from various neurological disorders, including Alzheimer's disease, Parkinson's disease, strokes, multiple sclerosis, epilepsy, migraines, brain injuries, and neuro-infections. Sadly, around 6.8 million people die each year due to these conditions. Biotechnology and gene editing techniques, such as CRISPR-Cas9, present promising opportunities for enhancing the therapeutic potential of NSCs. However, the growth of the market may be limited by manufacturing challenges.
Neural Stem Cells Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2024-2032)
Based on Application segmentation, Hospital was predicted to show maximum market share in the year 2023
Based on region, North America was the leading revenue generator in 2023
The Global Neural Stem Cells Market is segmented based on Type, Application, and Region.
The market is categorized into three groups according to Type: Neural tube epithelial cells, Neuroglial cells, Neuroblast, and Neural precursor cells. The Neural Stem Cells market comprises a wide range of cell types that possess distinct properties and find applications in neuroscience research, regenerative medicine, and therapeutic development.
The market is segmented into three categories according to their application: Medical care, Hospital, and Laboratory. The dominant sector in the market is the Hospital category, which offers extensive care and rehabilitation services to patients with neurological disorders and injuries, including those involved in stem cell clinical trials.
Neural Stem Cells Market- Geographical Insights
This market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The North American region dominates the market, primarily due to its advanced healthcare infrastructure. The strong healthcare infrastructure in this region supports extensive research and development in the field of stem cell biology and regenerative medicine. By the end of 2022, the United States is projected to spend USD 4.5 trillion on healthcare, making it the country with the highest overall healthcare spending in the world. In 2021, the United States' healthcare spending is estimated to be USD 4.3 trillion, accounting for 18.5% of its GDP. Europe holds the second-largest region for market growth, mainly attributed to its robust research and development efforts.
The market for neural stem cells is highly competitive due to the increasing focus on regenerative medicine and the promising potential of stem cell therapies in treating different neurological disorders. Numerous companies and research institutions are actively engaged in the advancement and commercialization of products and therapies based on neural stem cells. These companies are striving to gain a competitive advantage in the neural stem cells market through product innovation, research and development, strategic partnerships, and market expansion efforts.
In January 2023, Stemedica Cell Technologies has revealed the initiation of a phase 2b/3 clinical trial aimed at evaluating the safety, effectiveness, and tolerance of a sole IV injection of allogeneic mesenchymal stem cells in individuals suffering from chronic ischemic stroke.
GLOBAL NEURAL STEM CELLS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Cellular Dynamics International
Stemedica Cell Technologies Inc
Fibrocell Science Inc
Corestem Inc, Corning Inc.
Celgene Corporation
Kangstem Biotech Ltd
Ge Healthcare
Biotime Inc
Thermo Fisher Vericel Corporation
Cellular Engineering Technologies Inc
Brainstorm Cell Therapeutics
Cytori Therapeutics
Becton Dickinson
Takara Holdings Inc.
Others