Global stem cell market size was valued at USD 11.92 billion in 2021 and is expected to reach USD 30.46 Billion by 2030, growing at a CAGR of 11.3% during the forecast period.
Polaris Market Research recently published [115+ Pages] research report on “Stem Cell Market Share, Size, Trends, Industry Analysis Report, By Type; By Application (Drug Discovery and Development, Regenerative Medicine); By Technology; By Therapy; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global stem cell market size was valued at USD 11.92 billion in 2021 and is expected to reach USD 30.46 Billion by 2030, growing at a CAGR of 11.3% during the forecast period.
What is a Stem Cell? How Big is the Stem Cell Market Size?
Stem cells are the body’s raw materials, cells from which all other cells with particular functions are generated. Under the appropriate conditions in the body or a laboratory, stem cells segregate to form more cells. The rapidly rising demand for the stem cell market can be attributed to the fact that it assists in comprehending how diseases occur. By observing stem cells grow into cells in bones, heart muscles, nerves, and other organs and tissues, researchers may better comprehend how diseases and conditions advance.
The increasing evolution of precision medicine, growth in cell treatment production provisions, and the growing number of clinical trials are considered significant driving factors in the market. Latest progressions in stem cell therapeutics and tissue engineering have the capacity to turn heads toward the treatment of several diseases. Additionally, growing demand for stem cell banking and growth in research pursuits concerning stem cell production, storage, and depiction is also anticipated to fuel the revenue growth for the market.
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Growth Driving Factors
There are extensive global expectations for stem cell-based therapies as they are safe and effective. Stem cells are acquiring awareness for the advancement of regenerative medicine. The stem cell market size is expanding as regenerative cell therapy has the possibility of healing and restoring defaced tissues and organs. For these therapies, stem cells constitute a promising cell source and thus are securing growing attention from researchers, clinicians, and scientists.
Notable R&D spending is one of the prominent contributors to market growth. The stem cell market sales are soaring as there is an increasing requirement for effective therapeutics to lessen the disease burden in the course of the forecast period. For instance, Celavie Biosciences’ five-year investigative study on Parkinson’s disease advanced in May 2020. The establishment works on regenerative stem cell therapy to cure Parkinson’s disease and other central nervous system clutter.
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Recent Developments
Segmental Analysis
Based on type adult stem cell type accounted for the largest market share. They provide advantages such as a magnitude for autologous conversion, decreased probability of tumor formation, and obtainability of accepted treatment alternatives. The stem cell market demand is increasing as these cells reject embryo destruction, which is the scenario in embryonic stem cells. Additionally, there is no probability of graft decline in the case of adult stem cells.
Based on application, the regenerative medicine segment acquired the largest market share. They have played a crucial role in orthopedic regenerative medicine, especially in relieving the body without interfering with surgery. The stem cell market trends include orthopedic therapy implementations, which are still evolving. The latest research has shown encouraging results anticipated to drive future market growth.
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Geographic Overview
North America held the largest stem cell market share due to the robust biotechnology industry, the supremacy of prominent key players, substantial R&D ventures, and the fostering of personalized medicines. Additionally, growth can be attributed to evolving government’s capability to stimulate stem cell therapies. For instance, the Canadian government financed about USD 7 million in regenerative medicine and stem cell research in March 2020. It will invest in nine transnational projects and four clinical attempts in the country to help the country’s development in the regenerative medicine sector.
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Frequently Asked Questions
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Jan 23, 2023