Global Stem Cell Therapy Market Segments
The global stem cell therapy market is expected to decline from $8.73 billion in 2019 to $8.62 billion in 2020 at a compound annual growth rate (CAGR) of -1.24%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The market is then expected to recover and reach $14.76 billion in 2023 at a CAGR of 19.62%. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases among people, driving the need for stem cell therapy. However, the high cost of stem cell therapy is expected to limit the growth of the market.
Stem cell therapy, also known as regenerative medicine, promotes the repair response of the 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.
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The global stem cell therapy market is further segmented based on type and geography.
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. Among these regions, the North American stem cell therapy market accounts for the largest share in the global stem cell therapy market.
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Trends In The Stem Cell Therapy Market
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.
Stem Cell Therapy Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides stem cell therapy market overviews, analyzes and forecasts stem cell therapy 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 size, stem cell therapy market segments and geographies, stem cell therapy market trends, stem cell therapy market drivers and stem cell therapy market restraints, 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.