The stem cell therapy market consists of the sales of stem cell therapy and related services by entities (organizations, sole traders, and partnerships) that provide stem cell therapy. Stem cell therapy, also known as regenerative medicine, promotes the repair response of diseased patient, dysfunctional or injured tissue using stem cells or their derivatives. Only goods and services traded between entities or sold to end consumers are included.
Global Stem Cell Therapy Market Size And Drivers:
The global stem cell therapy market is expected to grow from $8.62 billion in 2020 to $10.20 billion in 2021 at a compound annual growth rate (CAGR) of 18.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The stem cell therapy market is expected to reach $20.87 billion in 2025 at a CAGR of 20%. The rising prevalence of chronic diseases contributed to the growth of the stem cell therapy market.
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Trends In The Global Stem Cell Therapy Market
The companies in the stem cell therapy market are increasingly investing in strategic partnerships. The strategic partnership is a mutually beneficial agreement between two companies that do not compete directly with each other. For instance, in September 2018, CRISPR Therapeutics, a biotechnology company that develops transformative medicine using the gene-editing platform for serious diseases, and ViaCyte, a California-based regenerative medicine company, collaborated for the development and commercialization of allogeneic stem cell therapies for diabetes treatment.
Global Stem Cell Therapy Market Segments:
The global stem cell therapy market is further segmented –
By Type: Allogeneic Stem Cell Therapy, Autologous Stem Cell Therapy
By Cell Source: Adult Stem Cells, Induced Pluripotent Stem Cells, Embryonic Stem Cells
By Application: Musculoskeletal Disorders, Wounds and Injuries, Cancer, Autoimmune Disorders, Others
By End-User: Hospitals, Clinics
By Geography: The global stem cell therapy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Stem Cell Therapy Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides stem cell therapy market overviews, analyzes and forecasts market size and growth for the global stem cell therapy market, stem cell therapy market share, stem cell therapy market players, stem cell therapy market segments and geographies, stem cell therapy market’s leading competitors’ revenues, profiles and market shares. The stem cell therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
