PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457962
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457962
The size of the stem cell therapy market was USD 306.1 million in 2023, and it will touch USD 910.8 million in 2030, with a rate of 16.9% throughout the projection period.
Growth Drivers
The key factors responsible for the advance of the market are the growing incidence of orthopedic conditions, traumatic injuries, neurological ailments, and autoimmune diseases, such as lupus, multiple sclerosis, COPD, stroke, Parkinson's disease, and ALS.
Also, with the growing familiarity of stem cell therapy, the rising requirement for stem cell banking will power the market in the future.
Moreover, the growing advances in research and a rising emphasis on customized medications will power the industry in the years to come as well.
For example, in November 2022, USD 8 million was invested by the California Institute for Regenerative Medicine in the UC San Diego Alpha Stem Cell Clinic for allowing the latter to create more-efficient stem cell therapies for the diseases, which are difficult to treat.
Allogeneic Stem Cell Therapy had the Largest Share
The largest share of 60% was held by the Allogeneic stem cell therapy in 2023, and it will power at a rate of 17% during 2024-2030.
This is because of the growth in the count of clinical trials for the advance of these kinds of treatments.
The foremost advantage of allogeneic transplantation is that there is not any contaminating tumor cell in the graft. The graft also comprises immunocompetent cells resultant from a donor, which might initiate an immune graft-against-malignancy effect.
Autologous Therapy To Grow Significantly
The autologous therapy category will have a significant growth in the future due to the little risk of rejection of graft in this treatment. People requiring high-dose of chemotherapy and radiation are frequently transplanted with autologous stem cells for replacing the bone marrow damaged by the main treatment.
Furthermore, more than a few studies, conducted in recent times are focusing on autologous HSCT have shown optimistic results for secondary progressive multiple sclerosis. The method makes use of healthy blood stem cells from the own body of a person for replacing diseased cells.
North America to have Largest Revenue Share
North America was the leader of the regional market, with a share of 55%, in 2023, and it will grow significantly by the end of this decade.
This is due to the investment being provided for the development of stem cell therapies in this region.
For example, in September 2022, a gene-therapy-focused contract development and manufacturing company Forge Biologics Inc, publicized that it has acquired a total amount of USD 90 million in a Series C financing round co-led by Drive Capital and Aisling Capital, with another unrevealed strategic investor.
APAC Region To Grow the Fastest
Ther APAC region is observing the fastest-growth, with China being a key nation concentrating on stem cell therapy.
For example, OBiO Technology Corp. Ltd., a Shanghai-based gene-and-cell-therapy-focused CRO and CDMO in January 2023, publicized that the FDA has acknowledged its GMP plasmid drug master file filings for autologous and allogenic cell therapy and stem cell therapy products and helps in reducing the time taken in communication, assessment, and analysis of the filings for related therapeutics on part of the FDA.